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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $423.19
- 3 Days on Market
- MLS # : CV21057816
- Updated Date : 03/20/2021 at 19:52
CONSTRUCTION
- Beds : 4
- Floor Size : 1,406 sqft
- Baths : 2 full
Listing Agent
Re/max Top Producers
Listing Agent's Description
**Beautiful Home in Mint Condition***Once you walk through the front door, you will see the pride in ownership of this wonderful single- story home. The home has a great floor layout, with a spacious formal living room with large glass slider that leads to the back yard. A big kitchen with newer tile counter top and a coffee bar area. This beautiful home features 4 bedrooms & 2 baths, large master bedroom, all bedrooms are carpeted, Laminate flooring in parts of the home. The home has central A/C and heating Unit. The outside is equally in great shape with a 2 yr. old Roof, Aluma-wood covered patio and Newer windows. Nicely landscaped on a corner lot. The home is close to transportation and shopping. It is also close to 10,60 and 57 Freeways for those commuters who travel to Los Angeles and Orange county. This is a great opportunity you don't want to own this beautiful well kept home!!
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MARKET HIGHLIGHTS
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
- 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)
- 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)
- 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 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: La Puente
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,330 |
| EXPENSES | Loan Payment | -$2,067 |
| Property Tax | -$635 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$114 | |
|
CASH FLOW
-$547
|
||
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.
$595,000
PROJECTED PRICE
$2,330
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$163,425
LOAN DETAILS
$2,067
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $148,750 |
| Loan Amount | $446,250 |
1.58
YEARS SAVED
$5,520
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,330
LIST RENT -
$1.66
LIST RENT PER SQFT
-
$2,534
COMP ESTIMATED VALUE -
$1.8
COMP AVG. RENT PER SQFT
Comps Range
-
17231 Main Street La Puente, CA 2
- 4 beds 2 baths ∙ 1,406 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,406 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $2,330
- $1.66
-
16409 Main Street La Puente, CA 1
- 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
-
16365 Main Street La Puente, CA 3
- 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 4
- 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
-
331 Vidalia Avenue La Puente, CA 5
- 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1960
LEASED 04/13/20- Rent
- Rent Per SQFT
- $2,600
- $1.73
PROPERTY LISTING DETAILS
Re/max Top Producers
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21057816
Last Updated: 03/20/2021
