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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $336.88
- 17 Days on Market
- MLS # : AR20244225
- Updated Date : 12/01/2020 at 12:59
CONSTRUCTION
- Beds : 4
- Floor Size : 2,538 sqft
- Baths : 3 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Welcome to this beautiful home nestled in North La Verne on a cul-de-sac for quiet living and privacy with access to excellent schools. Well maintained contemporary style home with excellent curb appeal and near popular hiking and biking trails. Spacious 4 br, 3 ba, 2,538 sq ft. Recently remodeled gourmet kitchen in 2017 with Quartz countertop with stainless steel appliances, plenty of counter space opens to a formal dining room and a large family room and has a wonderful view to a great backyard. Redesigned heated pebble pool and spa in 2015 with a baja shelf for refreshing relaxation or ideal for children to enjoy playing under an umbrella. Great backyard is a wonderful gathering place for the family/friends for BBQ, swimming parties. One bedroom suite downstairs for the in-laws or guests. Large main master suite upstairs with a walk-in closet and private balcony redone in 2015 for the greenbelt view. Newer front double door, updated windows, newer HVAC and cool whole house fan system adds to the energy conservation of the home. There are beautiful 2 fireplaces in the living room, family room. There are 3 car attached garage, soft water systems, plantation shutters, and views to nearby rolling foothills from the front yard. Neighbors activities include the 4th of July parade, county fair and Santa Claus handing out treats to each home on Christmas morning. You can carry on the legacy of enjoying the great place for the family in one of the best foothill communities
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: North la Verne
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North la Verne
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,100 |
| EXPENSES | Loan Payment | -$3,155 |
| Property Tax | -$850 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$1,145
|
||
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.
$855,000
PROJECTED PRICE
$3,100
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 4.3% |
| 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
$232,325
LOAN DETAILS
$3,155
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $213,750 |
| Loan Amount | $641,250 |
0.42
YEARS SAVED
$1,269
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,100
LIST RENT -
$1.22
LIST RENT PER SQFT
-
$3,204
COMP ESTIMATED VALUE -
$1.26
COMP AVG. RENT PER SQFT
Comps Range
-
2038 Bogie Drive La Verne, CA 2
- 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1979
- Rent
- Rent Per SQFT
- $3,100
- $1.22
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2382 Meadow Glen Drive La Verne, CA 1
- 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1998
LEASED 12/02/19- Rent
- Rent Per SQFT
- $3,000
- $1.17
-
4917 Eldorado Drive La Verne, CA 3
- 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1985
LEASED 09/01/20- Rent
- Rent Per SQFT
- $3,200
- $1.29
-
2123 Golden Hills Road La Verne, CA 4
- 3 beds 2 baths ∙ 2,678 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,678 Sqft ∙ Built 1981
LEASED 04/23/20- Rent
- Rent Per SQFT
- $3,350
- $1.25
-
2160 Golden Hills Road La Verne, CA 5
- 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 1981
LEASED 08/31/20- Rent
- Rent Per SQFT
- $3,650
- $1.34
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: AR20244225
Last Updated: 12/01/2020
