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PROPERTY INFO
FACTS
- Single Family
- Built In 1948
- Price/Sqft : $389.81
- 3 Days on Market
- MLS # : DW21027488
- Updated Date : 02/19/2021 at 17:24
CONSTRUCTION
- Beds : 4
- Floor Size : 1,688 sqft
- Baths : 2 full
Listing Agent
Excellence Premier Real Estate
Listing Agent's Description
Perfect for First Time Home Buyers! Corner Lot property with 3 bedrooms 1 Bath in front house (1,204 sqft) . Guest unit is 484 sqt. Guest house and garage were build from the ground up in 2007 with permits separate from front house. Both front house have a/c heating and central cooling. . Single story total 4 beds 2 bath. Lot is 0.29 acres, rv parking or 8 parking spaces.
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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)
- 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]
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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: Sunset
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sunset
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,460 |
| EXPENSES | Loan Payment | -$2,285 |
| Property Tax | -$674 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$121 | |
|
CASH FLOW
-$676
|
||
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.
$658,000
PROJECTED PRICE
$2,460
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 5.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$180,120
LOAN DETAILS
$2,285
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $164,500 |
| Loan Amount | $493,500 |
1.25
YEARS SAVED
$4,051
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,460
LIST RENT -
$2.04
LIST RENT PER SQFT
-
$2,071
COMP ESTIMATED VALUE -
$1.72
COMP AVG. RENT PER SQFT
Comps Range
-
1705 S Cabana Avenue West Covina, CA 2
- 3 beds 1 baths ∙ 1,204 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,204 Sqft ∙ Built 1948
- Rent
- Rent Per SQFT
- $2,460
- $2.04
-
1901 W Devers Street West Covina, CA 1
- 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960
LEASED 09/02/19- Rent
- Rent Per SQFT
- $2,400
- $1.71
-
14835 Clydewood Street Baldwin Park, CA 3
- 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1949
LEASED 08/04/20- Rent
- Rent Per SQFT
- $2,580
- $1.69
-
1037 S Valinda Avenue West Covina, CA 4
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1951
LEASED 07/18/20- Rent
- Rent Per SQFT
- $2,600
- $1.73
-
1327 W Randall Way West Covina, CA 5
- 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1959
LEASED 10/14/20- Rent
- Rent Per SQFT
- $2,675
- $1.75
PROPERTY LISTING DETAILS
Excellence Premier Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: DW21027488
Last Updated: 02/19/2021
