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1801 Nowell Avenue Rowland Heights, CA 91748

4 Beds 3 Baths 1,580 sqft Built 1963

$725,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $458.86
  • 3 Days on Market
  • MLS # : AR21000263
  • Updated Date : 01/02/2021 at 14:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,580 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

***Looking for a remodeled turnkey home?*** Come see this gorgeous south facing 4 bedroom/ 3 bath charmer located on a cul-de-sac street. The new trend of 2 en-suites are designed for your flexibility and perfect for multi-generational living. The en-suite on the 1st level has it’s own entrance and patio. The generous kitchen is designed with shaker style cabinetry, quartz countertops, tile back splash, and stainless-steel appliances. The open concept kitchen and living room overlooking the patio makes entertaining a breeze. Bright and airy with modern colors, recessed lighting, gas fireplace, elegantly designed bathrooms, and 2 car attached garage. The spacious backyard with mountain views invite your imagination for new outdoor ideas and peaceful enjoyment. Conveniently located near restaurants, cafes, supermarkets, shopping, hiking trails, parks, and great schools. This beautifully crafted opportunity awaits your arrival for the new lifestyle you have been dreaming of. (Assessor data shows 5 bedrooms. There are currently 4 bedrooms.) 3D Virtual Tour is available at https://my.matterport.com/show/?m=f4fLHvWwXGS&mls=1

SEE MORE

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $187k690k

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

Neighborhood: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001700180019002000210022002300240025002600270028002900Rent in $15582941

* 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
Killian Elementary School Primary Regular 629 26 7
Alvarado Intermediate School Middle Regular 750 30 7
John A. Rowland High School High Regular 2,329 87 8

Killian Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 26
7
GreatSchools Rating

Alvarado Intermediate School

  • Education Level: Middle
  • # of students: 750
  • # of teachers: 30
7
GreatSchools Rating

John A. Rowland High School

  • Education Level: High
  • # of students: 2,329
  • # of teachers: 87
8
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,675
Property Tax -$750
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$989

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.

$725,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$890

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $2,694

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6303$2,7504$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 1801 Nowell Avenue Rowland Heights, CA 2
    • 5 beds 3 baths ∙ 1,580 Sqft ∙ Built 1963 5 beds 3 baths ∙ 1,580 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.66
    •  
  • 19352 Pilario Street Rowland Heights, CA 1
    • 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1976
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.74
    •  
  • 1414 Heatherton Avenue Rowland Heights, CA 3
    • 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.72
    •  
  • 19109 Galatina Street Rowland Heights, CA 4
    • 4 beds 4 baths ∙ 1,624 Sqft ∙ Built 1968 4 beds 4 baths ∙ 1,624 Sqft ∙ Built 1968
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.72
    •  
  • 19117 La Guardia Street Rowland Heights, CA 5
    • 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1963
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.64
    •  
PROPERTY LISTING DETAILS
Sherry Carr
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21000263
Last Updated: 01/02/2021
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