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1704 Aspen Village Way West Covina, CA 91791

3 Beds 3 Baths 1,415 sqft Built 1976

$495,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $349.82
  • 7 Days on Market
  • MLS # : CV20253034
  • Updated Date : 12/07/2020 at 14:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,415 sqft
  • Baths : 3 full
Listing Agent

Martindale Commercial R.e.

Listing Agent's Description

The current owner of this beautiful condo purchased it from the original homeowner. The original owner was one of the first to purchase a lot in this highly sought after association and it is apparent why he purported to have the most premium lot in Aspen Village. The home is on the corner and has an unobstructed view of the pool and brooks that meander throughout the complex. The first floor is spacious and has a renovated powder room, living room with stacked stone fireplace and laminate flooring, a dining room situated next to a sliding glass door that provides gorgeous unobstructed views. The kitchen has been completely remodeled with new cabinets, granite countertops, upgraded light fixtures and tile flooring. The side-by-side refrigerator with ice maker and water dispenser is included in the sale. The second floor has three large bedrooms as well as an additional hallway bathroom. The master bedroom has an in-room vanity in addition to the bathroom as well as a large walk-in closet. Both second floor bathrooms are scheduled to have granite counter tops installed. The house has an incredible amount of storage and is thoughtfully laid out and tastefully upgraded. The outdoor space is generous and includes both a front and back patio. This condo is a must-see and will not disappoint!

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MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Azusa-Cameron

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $184k856k

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

Neighborhood: Azusa-Cameron

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15053697

* 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
Cameron Elementary School Primary Regular 481 20 5
Hollencrest Middle School Middle Regular 774 30 7
Edgewood High School High Regular 831 33 7

Cameron Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 20
5
GreatSchools Rating

Hollencrest Middle School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 30
7
GreatSchools Rating

Edgewood High School

  • Education Level: High
  • # of students: 831
  • # of teachers: 33
7
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,826
Property Tax -$507
Property Insurance -$61
HOA -$435
Property Management Fees -$112
CASH FLOW
-$652

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$495,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $2,282

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2903$2,3454$2,3505$2,695
$2,695
RENT COMPS ANALYSIS
  • 1704 Aspen Village Way West Covina, CA 2
    • 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,415 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.62
    •  
  • 1690 Bridgeport West Covina, CA 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1984
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.56
    •  
  • 1747 Bridgeport West Covina, CA 3
    • 3 beds 3 baths ∙ 1,389 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,389 Sqft ∙ Built 1986
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $1.69
    •  
  • 1900 Jasmine Circle West Covina, CA 4
    • 4 beds 3 baths ∙ 1,543 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,543 Sqft ∙ Built 1992
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.52
    •  
  • 1609 Oxford Court West Covina, CA 5
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1980
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.68
    •  
PROPERTY LISTING DETAILS
Megan Radillo
Martindale Commercial R.e.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20253034
Last Updated: 12/07/2020
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