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1930 Driftstone Drive #41 Glendora, CA 91740

3 Beds 3 Baths 1,638 sqft Built 1985

$519,800

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $317.34
  • 11 Days on Market
  • MLS # : CV21005908
  • Updated Date : 01/23/2021 at 09:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Blackstone Rty

Listing Agent's Description

Welcome to this beautiful, turnkey 3 bedroom, 3 bath condo located in the prime community of Glendora Springs. This home boasts one of the largest floor plans and is an end unit. From the moment you walk in, you are greeted by cathedral high ceilings, lots of windows, and gorgeous hardwood floors that are in the living and family room area. Also in the family room area is a gas fireplace, perfect for those chilly nights. The cheery and bright kitchen is complete with GE Stainless Steel Appliances and plenty of cupboard space that is adjoined by the dining area. It even has a cute breakfast bar area, perfect for that early morning coffee. Upstairs you will find a spacious Master bedroom, with 2 large, mirrored door, closets and a en-suite full bathroom. The Master Bathroom has been completely remodeled with Double Sink Vanity, Stone Countertops, mirrors, lights, and separate walk-in seamless glass shower. Across the hall, there are also 2 roomy bedrooms, both with mirrored closet doors and full hall bathroom that also has been remodeled with New Vanity, Stone Countertop, mirror and lighting. All 3 bedrooms/hall area have recently been carpeted. Downstairs there is a guest bath as well. Enjoy entertaining in your private and secluded back patio and side yard area. There is a 2 car attached garage with ample storage space along with additional outlets, perfect for a handyman. The community has many amenities! Close to shops, restaurants, entertainment and the prestigious GUSD.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Glendora

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Glendora

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16233697

* 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
Sutherland Elementary School Primary Regular 575 21 8
Goddard Middle School Middle Regular 915 35 8
Glendora High School High Regular 2,597 91 9

Sutherland Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 21
8
GreatSchools Rating

Goddard Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 35
8
GreatSchools Rating

Glendora High School

  • Education Level: High
  • # of students: 2,597
  • # of teachers: 91
9
GreatSchools Rating
 

$467,820$571,780$519,800

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$1,805
Property Tax -$508
Property Insurance -$67
HOA -$385
Property Management Fees -$134
CASH FLOW
-$159

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.

$519,800

PROJECTED PRICE

$2,740

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,497

INVESTMENT

$143,497

Down Payment
$129,950
Rehab Estimate
$5,750
Closing Costs
$7,797

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,805

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,950
Loan Amount $389,850
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$22,249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $2,727

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6503$2,7004$2,7005$2,740
$2,740
RENT COMPS ANALYSIS
  • 1930 Driftstone Drive Glendora, CA 5
    • 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $1.67
    •  
  • 1923 Cobblefield Way Glendora, CA 1
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1985
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.61
    •  
  • 512 Noah Court San Dimas, CA 2
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1986
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.60
    •  
  • 607 Wild Rose Lane San Dimas, CA 3
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1996
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.86
    •  
  • 931 Sandstone Drive Glendora, CA 4
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.59
    •  
PROPERTY LISTING DETAILS
Cynthia Carava
Coldwell Banker Blackstone Rty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21005908
Last Updated: 01/23/2021
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