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18445 Marimba Street Rowland Heights, CA 91748

4 Beds 2 Baths 1,152 sqft Built 1961

$575,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $499.13
  • 5 Days on Market
  • MLS # : OC21038477
  • Updated Date : 03/24/2021 at 17:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,152 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Charming desirable single level home ideally located in a family friendly neighborhood close to local schools, parks, the rolling hills of Powder Canyon, with picturesque Mountains to the north. Manicured landscaping and beautiful exterior details provide a welcoming curb appeal. The spacious living area boasts crown molding and direct access to the back patio creating and ideal indoor-outdoor living space. The light filled kitchen has rich oak cabinetry, a fully tiled backsplash, garden window, updated stainless steel appliances, tile floors, and is open to the dining area with custom light fixture and fan and decorating nooks. The master suite is a peaceful retreat with mirrored closet doors and en-suite master bath with oversized step in shower. 3 additional guest bedrooms and a full guest bathroom complete this awesome floor plan. The expansive backyard is a private oasis with fragrant fruit trees, a large grassy lawn, and a spacious covered patio, perfect for relaxing and entertaining. Direct access 2 car garage with laundry hookup, plus and oversized driveway with room for RV or Boat Storage. Close to Puente Hills Mall, shopping, dining, entertainment, easy frwy access, and an abundance of outdoor recreation in the Peter Schabarum Regional Park. No HOA, No Mello Roos!

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
Alvarado Intermediate School Middle Regular 750 30 7
John A. Rowland High School High Regular 2,329 87 8

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
 

$517,500$632,500$575,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,997
Property Tax -$598
Property Insurance -$55
Property Management Fees -$104
CASH FLOW
-$625

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.

$575,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.37%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,539

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $2,100

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,2953$2,4004$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 18445 Marimba Street Rowland Heights, CA 1
    • 4 beds 2 baths ∙ 1,152 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,152 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.85
    •  
  • 2037 Paso Real Avenue Rowland Heights, CA 2
    • 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 1963
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.90
    •  
  • 18484 Dragonera Drive Rowland Heights, CA 3
    • 3 beds 1 baths ∙ 1,372 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,372 Sqft ∙ Built 1963
    property image
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.75
    •  
  • 19121 La Guardia Street Rowland Heights, CA 4
    • 4 beds 2 baths ∙ 1,460 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,460 Sqft ∙ Built 1963
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.78
    •  
  • 2753 Plano Drive Rowland Heights, CA 5
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1963
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.86
    •  
PROPERTY LISTING DETAILS
Jordan Bennett
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21038477
Last Updated: 03/24/2021
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