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 1977
- Price/Sqft : $364.15
- 3 Days on Market
- MLS # : WS21035028
- Updated Date : 02/19/2021 at 12:23
CONSTRUCTION
- Beds : 5
- Floor Size : 2,120 sqft
- Baths : 3 full
Listing Agent
Irn Realty
Listing Agent's Description
Serene single story home nestled on a quiet cul-de-sac of West Covina. This 5 bedroom, 3 bath remodeled beauty has a nice open floor plan with a perfect size for any family. Newly paint and floor for all the rooms. Nice view from the gated yard and it is ready to enjoy with family and friends.
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: Woodside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Woodside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,110 |
| EXPENSES | Loan Payment | -$2,681 |
| Property Tax | -$849 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$651
|
||
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.
$772,000
PROJECTED PRICE
$3,110
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$210,330
LOAN DETAILS
$2,681
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $193,000 |
| Loan Amount | $579,000 |
1.92
YEARS SAVED
$9,699
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,110
LIST RENT -
$1.47
LIST RENT PER SQFT
-
$3,175
COMP ESTIMATED VALUE -
$1.5
COMP AVG. RENT PER SQFT
Comps Range
-
2010 Sonya Court West Covina, CA 4
- 5 beds 3 baths ∙ 2,120 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,120 Sqft ∙ Built 1977
- Rent
- Rent Per SQFT
- $3,110
- $1.47
-
2625 E Marlena Street West Covina, CA 1
- 5 beds 3 baths ∙ 1,925 Sqft ∙ Built 1976 5 beds 3 baths ∙ 1,925 Sqft ∙ Built 1976
LEASED 01/19/21- Rent
- Rent Per SQFT
- $2,750
- $1.43
-
3100 Julie Court West Covina, CA 2
- 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 1976 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 1976
LEASED 08/25/19- Rent
- Rent Per SQFT
- $3,000
- $1.60
-
3527 Patricia Street West Covina, CA 3
- 4 beds 3 baths ∙ 2,131 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,131 Sqft ∙ Built 1978
LEASED 02/07/20- Rent
- Rent Per SQFT
- $3,000
- $1.41
-
416 Bellagio Way Walnut, CA 5
- 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 1985
LEASED 01/21/20- Rent
- Rent Per SQFT
- $3,300
- $1.55
PROPERTY LISTING DETAILS
Irn Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS21035028
Last Updated: 02/19/2021
