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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $317.46
- 36 Days on Market
- MLS # : WS20225610
- Updated Date : 11/23/2020 at 05:09
CONSTRUCTION
- Beds : 3
- Floor Size : 1,638 sqft
- Baths : 3 full
Listing Agent
Re/max Elite Realty
Listing Agent's Description
Congratulations for the opportunity to enjoy this beautifully landscaped and well maintained community of Glendora Springs. This home features a large master suite with vaulted ceiling, open floor plan, an updated kitchen with granite counter tops and pantry for plenty of storage, laundry room conveniently located off kitchen, living room with Vaulted ceiling and fireplace full of natural light, dining room with a private patio perfect for dinner outdoor taking advantage of the sunny California weather! Sparkling pool is just steps away and get your exercise at this complexes private tennis courts. Conveniently located, entertainment, restaurants, shops and local schools are just a few short blocks away. Association amenities include sparkling pool, spa, sport court and water feature entry. Award winning Glendora schools with high school score 9 and middle school score 8. HOA includes insurance, water and trash. Only showing days are Nov. 28 and 29 from 10 am to 5 pm by appointment only.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Glendora
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,670 |
| EXPENSES | Loan Payment | -$1,919 |
| Property Tax | -$508 | |
| Property Insurance | -$67 | |
| HOA | -$385 | |
| Property Management Fees | -$131 | |
|
CASH FLOW
-$339
|
||
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.
$520,000
PROJECTED PRICE
$2,670
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$143,550
LOAN DETAILS
$1,919
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $130,000 |
| Loan Amount | $390,000 |
2.75
YEARS SAVED
$13,686
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,670
LIST RENT -
$1.63
LIST RENT PER SQFT
-
$2,674
COMP ESTIMATED VALUE -
$1.63
COMP AVG. RENT PER SQFT
Comps Range
-
1962 Driftstone Drive Glendora, CA 4
- 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $2,670
- $1.63
-
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
-
710 Highland Place San Dimas, CA 3
- 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1971
LEASED 08/08/19- Rent
- Rent Per SQFT
- $2,650
- $1.73
-
931 Sandstone Drive Glendora, CA 5
- 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
Re/max Elite Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS20225610
Last Updated: 11/23/2020
