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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $435.19
- 2 Days on Market
- MLS # : CV21000351
- Updated Date : 01/02/2021 at 12:39
CONSTRUCTION
- Beds : 3
- Floor Size : 1,367 sqft
- Baths : 2 full
Listing Agent
Torres Realty Inc
Listing Agent's Description
Beautiful 3 Bedroom 2 Bath Home In West Covina. Large Front Yard with Long Driveway with RV Parking. Laminate Wood Flooring Throughout Home with Fire Place in Living Room. Recess Lighting In Living Room, Kitchen and Dining Room Areas. Spacious Kitchen with Stainless Steel Appliances with Plenty Cupboard Space. Open Floor Plan. Newer His & Her Sinks and Glass Shower Door in Master Bathroom. Spacious Backyard with Aluminum Patio Covering with Tiled Flooring in Patio. Great For Entertaining Guests. Hurry This Property Won't Last!
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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: Freeway Corridor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Freeway Corridor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,300 |
| EXPENSES | Loan Payment | -$2,195 |
| Property Tax | -$609 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$113 | |
|
CASH FLOW
-$677
|
||
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.
$594,900
PROJECTED PRICE
$2,300
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 7.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$163,399
LOAN DETAILS
$2,195
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $148,725 |
| Loan Amount | $446,175 |
1.17
YEARS SAVED
$3,601
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,300
LIST RENT -
$1.68
LIST RENT PER SQFT
-
$2,286
COMP ESTIMATED VALUE -
$1.67
COMP AVG. RENT PER SQFT
Comps Range
-
1928 W Kenoak Drive West Covina, CA 1
- 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1953
- Rent
- Rent Per SQFT
- $2,300
- $1.68
-
1901 W Devers Street West Covina, CA 2
- 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960
LEASED 09/02/19- Rent
- Rent Per SQFT
- $2,400
- $1.71
-
1120 S Shadydale Avenue West Covina, CA 3
- 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1955
LEASED 10/21/19- Rent
- Rent Per SQFT
- $2,500
- $1.65
-
14835 Clydewood Street Baldwin Park, CA 4
- 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1949
LEASED 08/04/20- Rent
- Rent Per SQFT
- $2,580
- $1.69
-
225 N Broadmoor Avenue West Covina, CA 5
- 3 beds 1 baths ∙ 1,642 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,642 Sqft ∙ Built 1952
LEASED 10/07/19- Rent
- Rent Per SQFT
- $2,700
- $1.64
PROPERTY LISTING DETAILS
Torres Realty Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21000351
Last Updated: 01/02/2021
