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16223 E Bellbrook Street Covina, CA 91722

3 Beds 1 Baths 1,122 sqft Built 1953

$549,888

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $490.10
  • 7 Days on Market
  • MLS # : TR21059035
  • Updated Date : 03/24/2021 at 15:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,122 sqft
  • Baths : 1 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Welcome home! Your charming Covina home on a corner lot is ready for you to enjoy, inside and outside. The pride of home ownership is evident in each room. A large living room leads to a dining area with a beautiful bay window. The white counters and cabinets as well as a laundry room off of the kitchen, are bright and cheery. The home features 3 bedrooms with built in shelving and 1 bathroom with a walk in tub. Your outside oasis awaits as you step into the enclosed patio, with ceiling fan and curtains. The yard includes a gazebo covering and a beautiful, sparkling clean swimming pool close to a citrus tree. There is plenty of room for swim parties with friends and family. The two car garage is detached and a perfect opportunity for converting to a separate apartment space. You have to see it to believe it. Don't miss this opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Vincent

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Vincent

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13822941

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Merwin Elementary School Primary Regular 417 18 6
Las Palmas Middle School Middle Regular 870 35 4
Northview High School High Regular 1,346 54 6

Merwin Elementary School

  • Education Level: Primary
  • # of students: 417
  • # of teachers: 18
6
GreatSchools Rating

Las Palmas Middle School

  • Education Level: Middle
  • # of students: 870
  • # of teachers: 35
4
GreatSchools Rating

Northview High School

  • Education Level: High
  • # of students: 1,346
  • # of teachers: 54
6
GreatSchools Rating
 

$494,899$604,877$549,888

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,910
Property Tax -$648
Property Insurance -$54
Property Management Fees -$103
CASH FLOW
-$615

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$549,888

PROJECTED PRICE

$2,100

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,470

INVESTMENT

$151,470

Down Payment
$137,472
Rehab Estimate
$5,750
Closing Costs
$8,248

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,472
Loan Amount $412,416
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,857

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,100

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $2,109

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3003$2,5004$2,6505$2,800
$2,800
RENT COMPS ANALYSIS
  • 16223 E Bellbrook Street Covina, CA 1
    • 3 beds 1 baths ∙ 1,122 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,122 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.87
    •  
  • 16631 E Masline Street Covina, CA 2
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1955
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.77
    •  
  • 725 N Neil Street West Covina, CA 3
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1954
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.76
    •  
  • 1209 E Elgenia Avenue West Covina, CA 4
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1955
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.97
    •  
  • 4126 N Walnuthaven Drive Covina, CA 5
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1954
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.02
    •  
PROPERTY LISTING DETAILS
Jordana Treadwell
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21059035
Last Updated: 03/24/2021
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