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1961 Greenleaf Drive West Covina, CA 91792

3 Beds 3 Baths 1,600 sqft Built 1971

$616,880

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $385.55
  • 5 Days on Market
  • MLS # : TR20264422
  • Updated Date : 01/02/2021 at 13:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 3 full
Listing Agent

Irn Realty

Listing Agent's Description

Wonderful West Covina property conveniently located within a few minutes drive to shopping and restaurants. This two story house features 4 bedrooms and 3.5 bathrooms with two car garage. Entering the front door, you are greeted by the living room and bonus room to be converted 4th bedroom with bath and shower. There is additional half bathroom next to the Laundry room with washer and dryer hookups also house's furnace and water heater. The kitchen is certainly inviting with wood cabinets, open dining-room, French sliding door, fireplace and open windows overviewing the backyard. Taking advantage of the large master bedroom with bath & shower, nice closets. The laminated wood flooring through the upstairs and second floor. The attached two garage features an extra garage door, giving direct access to the backyard carport for additional parking if need. It is customized storage in garage. it's centrally located to shopping, restaurant, schools, public transportation and freeways.

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: Woodside

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $184k622k

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

Neighborhood: Woodside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14392941

* 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
Yorbita Elementary School Primary Regular 539 24 4
Yorbita Elementary School Middle Regular 539 24 4
Nogales High School High Regular 1,959 84 5

Yorbita Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 24
4
GreatSchools Rating

Yorbita Elementary School

  • Education Level: Middle
  • # of students: 539
  • # of teachers: 24
4
GreatSchools Rating

Nogales High School

  • Education Level: High
  • # of students: 1,959
  • # of teachers: 84
5
GreatSchools Rating
 

$555,192$678,568$616,880

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,276
Property Tax -$697
Property Insurance -$66
HOA -$25
Property Management Fees -$129
CASH FLOW
-$554

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.

$616,880

PROJECTED PRICE

$2,640

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.0%
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$15k

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$169,223

INVESTMENT

$169,223

Down Payment
$154,220
Rehab Estimate
$5,750
Closing Costs
$9,253

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,276

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,220
Loan Amount $462,660
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$9,333

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $2,604

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,6403$2,6504$2,8005$2,900
$2,900
RENT COMPS ANALYSIS
  • 1961 Greenleaf Drive West Covina, CA 2
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $1.65
    •  
  • 2612 Paseo Olivas West Covina, CA 1
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1978
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.56
    •  
  • 2647 Evelyn Avenue West Covina, CA 3
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.57
    •  
  • 2004 Delores Street West Covina, CA 4
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.66
    •  
  • 2421 E Alicia Street West Covina, CA 5
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1977
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.72
    •  
PROPERTY LISTING DETAILS
Frieda Deng
Irn Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20264422
Last Updated: 01/02/2021
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