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16830 E Nubia Street Covina, CA 91722

3 Beds 1 Baths 1,080 sqft Built 1954

$569,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $527.69
  • 2 Days on Market
  • MLS # : MB20260199
  • Updated Date : 12/19/2020 at 13:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,080 sqft
  • Baths : 1 full
Listing Agent

L.a. Real Estate Network Group

Listing Agent's Description

Please cut and paste this link for CONTACTLESS VIRTUAL 3D TOUR: https://my.matterport.com/show/?m=GM8VdVqWGHt&mls=1"COVINA" TURN KEY HOME READY TO BE YOURS!!!Beautifully updated with taste and a great floor plan that flows just right. This home features new windows, new flooring, new paint, new recessed lighting, a large living room with plenty of space for those movie nights, nicely updated kitchen with new appliances, in close proximity to the dining area and living room to get those tasty meals and snacks. 3 great size bedrooms, remodeled bathroom, inside laundry area, huge back yard with nice covered gazebo, plenty of cemented area for parking cars, toys and large grass area for outdoor fun. Extra storage room at rear yard perfect as a hobby room, for the gardening tools and other items you may want to store away. Use your imagination with the amenities we have here. SEE IT!!! FALL IN LOVE WITH IT!!! BUY IT!!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Alice Ellington Elementary School Primary Regular 480 21 5
Center Middle School Middle Regular 567 28 4
Gladstone High School High Regular 1,217 55 6

Alice Ellington Elementary School

  • Education Level: Primary
  • # of students: 480
  • # of teachers: 21
5
GreatSchools Rating

Center Middle School

  • Education Level: Middle
  • # of students: 567
  • # of teachers: 28
4
GreatSchools Rating

Gladstone High School

  • Education Level: High
  • # of students: 1,217
  • # of teachers: 55
6
GreatSchools Rating
 

$512,910$626,890$569,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$2,103
Property Tax -$593
Property Insurance -$53
Property Management Fees -$105
CASH FLOW
-$704

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.

$569,900

PROJECTED PRICE

$2,150

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$156,774

INVESTMENT

$156,774

Down Payment
$142,475
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,475
Loan Amount $427,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,914

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$2,1503$2,3004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 16830 E Nubia Street Covina, CA 2
    • 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.99
    •  
  • 5158 N Burwood Avenue Covina, CA 1
    • 4 beds 2 baths ∙ 1,065 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,065 Sqft ∙ Built 1955
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.48
    •  
  • 16631 E Masline Street Covina, CA 3
    • 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 4
    • 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
    •  
  • 4937 N Clydebank Avenue Covina, CA 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1955
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.82
    •  
PROPERTY LISTING DETAILS
Ray Duran, Jr.
L.a. Real Estate Network Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: MB20260199
Last Updated: 12/19/2020
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