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1732 Glenridge Circle West Covina, CA 91792

4 Beds 3 Baths 1,600 sqft Built 1970

$550,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1970
  • Price/Sqft : $343.75
  • 25 Days on Market
  • MLS # : CV20214226
  • Updated Date : 11/02/2020 at 19:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,600 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Masters & Associates

Listing Agent's Description

*Location, Location, Location!* Centrally Located 4 bedrooms 2.5 Baths home in West Covina close to Walnut featuring a large living room, open dining/kitchen area for entertaining, laundry and bonus room to be used as an office or play room. There's a bedroom and half bath downstairs. Newer water heater and newer insulation to keep summers cool and winters toasty. Low maintenance front yard as well as a perfect sized backyard with covered patio and just the right amount of space for gardening or entertaining. Best of all, within walking distance to Seafood City Supermarket, plus numerous restaurants. Minutes from The Heights at West Covina; Target, Home Depot, Petsmart, CVS Pharmacy, Supermarkets. Close to 60, 10, 57, 605 FWYS. Easy drive to Mt. San Antonio and Cal Poly College. Great investment home and great for first time home buyers.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Woodside

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $184k622k

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

Neighborhood: Woodside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14392941

* 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
Yorbita Elementary School Primary Regular 539 24 4
Yorbita Elementary School Middle Regular 539 24 4
Nogales High School High Regular 1,959 84 5

Yorbita Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 24
4
GreatSchools Rating

Yorbita Elementary School

  • Education Level: Middle
  • # of students: 539
  • # of teachers: 24
4
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

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,029
Property Tax -$621
Property Insurance -$66
HOA -$26
Property Management Fees -$130
CASH FLOW
-$222

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.

$550,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$5.0k$0.0$5.0k$10k$15k$20k

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 55% 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

4.42

YEARS SAVED

$27,865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $2,608

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4503$2,6504$2,6505$2,800
$2,800
RENT COMPS ANALYSIS
  • 1732 Glenridge Circle West Covina, CA 4
    • 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1970 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.66
    •  
  • 2612 Paseo Olivas West Covina, CA 1
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1978
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.56
    •  
  • 412 Rimgrove Drive La Puente, CA 2
    • 4 beds 2 baths ∙ 1,420 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,420 Sqft ∙ Built 1956
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.73
    •  
  • 2647 Evelyn Avenue West Covina, CA 3
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.57
    •  
  • 2004 Delores Street West Covina, CA 5
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.66
    •  
PROPERTY LISTING DETAILS
Jessie Hsieh
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20214226
Last Updated: 11/02/2020
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