Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1963
- Price/Sqft : $342.04
- 3 Days on Market
- MLS # : CV21035465
- Updated Date : 02/19/2021 at 18:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,722 sqft
- Baths : 2 full
Listing Agent
Keller Williams Covina
Listing Agent's Description
New HOT LISTING PRICED TO SELL QUICK!! New Roof, New Water Heater, New Garbage Disposal, Big Bedrooms, separate laundry room,2 fireplaces. One fireplace in the Living room and the other in the Family room for your romantic evenings!! Quarantine at home? Why not? With this home , you have it all. This home includes a nice size refreshing fenced in swimming pool!! You can make it your Dream Home!!
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)
- 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]
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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: Charter Oak
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Charter Oak
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,500 |
| EXPENSES | Loan Payment | -$2,046 |
| Property Tax | -$616 | |
| Property Insurance | -$69 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
-$353
|
||
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.
$589,000
PROJECTED PRICE
$2,500
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 6.3% |
| 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
$161,835
LOAN DETAILS
$2,046
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $147,250 |
| Loan Amount | $441,750 |
3.25
YEARS SAVED
$15,360
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,500
LIST RENT -
$1.45
LIST RENT PER SQFT
-
$2,673
COMP ESTIMATED VALUE -
$1.55
COMP AVG. RENT PER SQFT
Comps Range
-
19536 E Calora Street Covina, CA 4
- 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1963
- Rent
- Rent Per SQFT
- $2,500
- $1.45
-
20234 E Arrow Covina, CA 1
- 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1980
LEASED 10/09/19- Rent
- Rent Per SQFT
- $2,200
- $1.49
-
4925 N Brightview Drive Covina, CA 2
- 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1954
LEASED 01/28/20- Rent
- Rent Per SQFT
- $2,300
- $1.53
-
607 E Algrove Street Covina, CA 3
- 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1955
LEASED 09/02/19- Rent
- Rent Per SQFT
- $2,400
- $1.62
-
1809 E Sachs Place Covina, CA 5
- 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1957
LEASED 01/27/20- Rent
- Rent Per SQFT
- $2,800
- $1.57
PROPERTY LISTING DETAILS
Keller Williams Covina
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21035465
Last Updated: 02/19/2021
