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18719 Greenbay Drive Rowland Heights, CA 91748

3 Beds 2 Baths 1,432 sqft Built 1979

$643,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $449.02
  • 7 Days on Market
  • MLS # : CV21060011
  • Updated Date : 03/24/2021 at 05:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,432 sqft
  • Baths : 2 full
Listing Agent

Vincent Yu, Broker

Listing Agent's Description

Charming turnkey home of nice community, gorgeous inside, no steps, easy access to kitchen, rooms, attached garage, yards, patio "flat and smooth"; combination of hardwood, tile flooring, cement concrete slab yards, close to shopping, businesses, freeways 60, 57. Upgraded backyard, front, new fence, new water heater; double pane door and double pane windows with new blinds throughout, quiet inside, small office den at rear. One story, front porch patio by master bedroom with twin shower bath, garage side door to access yards, newly added small golf practice green lawn. Streetlights, curbs, morning, night walk, great for outdoor exercise. Two-car garage plus additional parking space, wide 50 feet width driveway, street parking available

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
Jellick Elementary School Primary Regular 440 20 4
Alvarado Intermediate School Middle Regular 750 30 7
John A. Rowland High School High Regular 2,329 87 8

Jellick Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 20
4
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
 

$578,700$707,300$643,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,233
Property Tax -$696
Property Insurance -$62
Property Management Fees -$116
CASH FLOW
-$747

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.

$643,000

PROJECTED PRICE

$2,360

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$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,145

INVESTMENT

$176,145

Down Payment
$160,750
Rehab Estimate
$5,750
Closing Costs
$9,645

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $160,750
Loan Amount $482,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,592

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $2,417

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3603$2,7004$2,7505$2,790
$2,790
RENT COMPS ANALYSIS
  • 18719 Greenbay Drive Rowland Heights, CA 2
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.65
    •  
  • 1601 Greencastle Avenue Rowland Heights, CA 1
    • 4 beds 2 baths ∙ 1,439 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,439 Sqft ∙ Built 1964
    LEASED 02/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 19027 Jodi Street Rowland Heights, CA 3
    • 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 1975
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.68
    •  
  • 1414 Heatherton Avenue Rowland Heights, CA 4
    • 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.72
    •  
  • 1421 Greenport Avenue Rowland Heights, CA 5
    • 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.75
    •  
PROPERTY LISTING DETAILS
Vincent Yu
Vincent Yu, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21060011
Last Updated: 03/24/2021
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