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18499 Barroso Street Rowland Heights, CA 91748

3 Beds 2 Baths 1,464 sqft Built 1960

$675,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $461.07
  • 2 Days on Market
  • MLS # : IG20232078
  • Updated Date : 11/07/2020 at 10:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,464 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Completely Remodel Home! Wonderful single story great for first time buyers. Offering 3 bedrooms, 2 bathrooms, living room, dining room, great kitchen with island, cathedral ceiling in family room with big fireplace, sqft 1464, lot 5952, BLT 1960, 2 car garage. All the work has been done for you. Close to schools, shopping center & FWY. All Brand New: Roof, Central Air and Heat, Water Heater, Dual Pane Low E Windows, White Shaker Cabinets with Quartz Countertops, Custom Tiled Bathrooms, Water Proof Vinyl Plank Flooring, Recessed lights, Doors, Baseboards, Crown Molding

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
Rowland Elementary School Primary Regular 528 22 3
Alvarado Intermediate School Middle Regular 750 30 7
John A. Rowland High School High Regular 2,329 87 8

Rowland Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 22
3
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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$2,490
Property Tax -$702
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$954

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.

$675,000

PROJECTED PRICE

$2,420

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $2,412

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3803$2,4004$2,4205$2,500
$2,500
RENT COMPS ANALYSIS
  • 18499 Barroso Street Rowland Heights, CA 4
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.65
    •  
  • 18693 Bellorita Street Rowland Heights, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.68
    •  
  • 18602 Barroso Street Rowland Heights, CA 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1960
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.57
    •  
  • 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
    •  
  • 18753 Aguiro Street Rowland Heights, CA 5
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1960
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.59
    •  
PROPERTY LISTING DETAILS
Claudia Gil
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20232078
Last Updated: 11/07/2020
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