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16885 Wegman Drive La Puente, CA 91744

3 Beds 1 Baths 1,398 sqft Built 1956

$550,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $393.42
  • 3 Days on Market
  • MLS # : SR20259542
  • Updated Date : 12/18/2020 at 17:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,398 sqft
  • Baths : 1 full
Listing Agent

Keller Williams North Valley

Listing Agent's Description

Gorgeous 3 bedroom 1 bathroom home. Entry door welcomes you into the spacious dining room open to the living room with a brick fireplace, and sliding glass door out to the back yard, perfect for relaxing with family and friends. Large driveway for several cars leads to the two car garage and backyard space for all your entertainment memories. The bonus room was the original garage converted into a music room. Also, wonderfully located in a great location for the needs of a growing family.

SEE MORE

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: La Puente

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $141k622k

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

Neighborhood: La Puente

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13152941

* 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
Hurley Elementary School Primary Regular 623 26 5
Hurley Elementary School Middle Regular 623 26 5
Nogales High School High Regular 1,959 84 5

Hurley Elementary School

  • Education Level: Primary
  • # of students: 623
  • # of teachers: 26
5
GreatSchools Rating

Hurley Elementary School

  • Education Level: Middle
  • # of students: 623
  • # of teachers: 26
5
GreatSchools Rating

Nogales High School

  • Education Level: High
  • # of students: 1,959
  • # of teachers: 84
5
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$2,029
Property Tax -$592
Property Insurance -$61
Property Management Fees -$110
CASH FLOW
-$552

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.

$550,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.5%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $2,509

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,2503$2,3004$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 16885 Wegman Drive La Puente, CA 1
    • 3 beds 1 baths ∙ 1,398 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,398 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.60
    •  
  • 16409 Main Street La Puente, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.88
    •  
  • 621 Ocala Avenue La Puente, CA 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1959
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.70
    •  
  • 16365 Main Street La Puente, CA 4
    • 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1973
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.87
    •  
  • 412 Rimgrove Drive La Puente, CA 5
    • 4 beds 2 baths ∙ 1,420 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,420 Sqft ∙ Built 1956
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.73
    •  
PROPERTY LISTING DETAILS
Claudia Mezquita
Keller Williams North Valley
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20259542
Last Updated: 12/18/2020
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