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1848 Bolanos Avenue Rowland Heights, CA 91748

4 Beds 3 Baths 1,794 sqft Built 1961

$645,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $359.53
  • 14 Days on Market
  • MLS # : IV21042560
  • Updated Date : 03/11/2021 at 09:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,794 sqft
  • Baths : 3 full
Listing Agent

Century 21 Masters

Listing Agent's Description

BEAUTIFUL FAMILY HOME WITH AMAZING CURB APPEAL. GREAT LOCATION OF ROWLAND HEIGHTS. CLOSE TO THE 60 FREEWAY, AND SHOPPING CENTERS NEAR BY.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)
  • 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)

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
 

$580,500$709,500$645,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,240
Property Tax -$670
Property Insurance -$70
Property Management Fees -$138
CASH FLOW
-$299

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.

$645,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.44%

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$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$23,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $3,081

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,7904$2,8005$2,820
$2,820
RENT COMPS ANALYSIS
  • 1848 Bolanos Avenue Rowland Heights, CA 5
    • 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.57
    •  
  • 19027 Jodi Street Rowland Heights, CA 1
    • 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 1975
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.68
    •  
  • 1414 Heatherton Avenue Rowland Heights, CA 2
    • 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.72
    •  
  • 1421 Greenport Avenue Rowland Heights, CA 3
    • 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.75
    •  
  • 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
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.72
    •  
PROPERTY LISTING DETAILS
Frank Garcia
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21042560
Last Updated: 03/11/2021
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