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18411 E Ghent Street Azusa, CA 91702

4 Beds 2 Baths 1,598 sqft Built 1954

$475,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $297.25
  • 5 Days on Market
  • MLS # : CV20248643
  • Updated Date : 12/02/2020 at 21:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,598 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Blackstone Rty

Listing Agent's Description

This is a great opportunity to purchase a mid century modern home with four bedrooms and two full baths. Extra room would make a great office, in home class room, work out center, game room, or you can use your imagination for the extra space. Front yard is gated with plenty of room to park your cars and toys in the garage or on the driveway. Walking distance to grammar school, easy access to 210 and 57 freeways, near shopping, restaurants, Citrus College, Azusa Pacific University, Gold Line, parks and just minutes away from the charming downtown districts of Glendora and Covina!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Citrus

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $147k622k

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

Neighborhood: Citrus

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13962941

* 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
Gladstone Street Elementary School Primary Regular 373 16 3
Center Middle School Middle Regular 567 28 4
Azusa High School High Regular 1,393 65 5

Gladstone Street Elementary School

  • Education Level: Primary
  • # of students: 373
  • # of teachers: 16
3
GreatSchools Rating

Center Middle School

  • Education Level: Middle
  • # of students: 567
  • # of teachers: 28
4
GreatSchools Rating

Azusa High School

  • Education Level: High
  • # of students: 1,393
  • # of teachers: 65
5
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,753
Property Tax -$517
Property Insurance -$66
Property Management Fees -$132
CASH FLOW
$233

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.

$475,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$74,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.69

    LIST RENT PER SQFT
  • $2,820

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3503$2,6004$2,7005$2,850
$2,850
RENT COMPS ANALYSIS
  • 18411 E Ghent Street Azusa, CA 4
    • 4 beds 2 baths ∙ 1,598 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,598 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.69
    •  
  • 18319 E Nearfield Street Azusa, CA 1
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1954
    property image
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.73
    •  
  • 18852 E Galatea Street Azusa, CA 2
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.87
    •  
  • 931 E Hollyvale Street Azusa, CA 3
    • 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1955
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.63
    •  
  • 1043 E Ghent Street Azusa, CA 5
    • 4 beds 2 baths ∙ 1,558 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,558 Sqft ∙ Built 1955
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.83
    •  
PROPERTY LISTING DETAILS
Phyllis Fritz
Coldwell Banker Blackstone Rty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20248643
Last Updated: 12/02/2020
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