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18659 Galatina Street Rowland Heights, CA 91748

3 Beds 2 Baths 1,150 sqft Built 1960

$590,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $513.04
  • 6 Days on Market
  • MLS # : OC21148938
  • Updated Date : 07/08/2021 at 13:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,150 sqft
  • Baths : 2 full
Listing Agent

Simptex Real Estate

Listing Agent's Description

This wonderful home is in one of the great areas of Rowland Heights. Recently painted inside and out and in very well kept conditions by the seller. Nice interior tile flooring, kitchen granite counters, cabinets, double pane windows and many other features that you will enjoy. Doing laundry won't be a problem anymore, this home comes with its own laundry room area inside of the attached 2 car garage. Very close to the 60 & 57 freeways, Puente Hills Mall and nice restaurants nearby. Don't miss out on this great opportunity, this home is PRICED TO SELL and it will not last!!!

SEE MORE

MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]

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
 

$531,000$649,000$590,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$2,049
Property Tax -$613
Property Insurance -$55
Property Management Fees -$103
CASH FLOW
-$720

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.

$590,000

PROJECTED PRICE

$2,100

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

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$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $2,116

    COMP ESTIMATED VALUE
  • $1.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,6003$2,6004$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 18659 Galatina Street Rowland Heights, CA 1
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.83
    •  
  • 19310 Springport Drive Rowland Heights, CA 2
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1963
    property image
    LEASED 06/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.79
    •  
  • 2753 Plano Drive Rowland Heights, CA 3
    • 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
    •  
  • 18314 Companario Drive Rowland Heights, CA 4
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1958
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.85
    •  
  • 18433 Seadler Drive Rowland Heights, CA 5
    • 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1976
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.86
    •  
PROPERTY LISTING DETAILS
Hector Montano
Simptex Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21148938
Last Updated: 07/08/2021
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