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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $341.78
- 2 Days on Market
- MLS # : IV21035616
- Updated Date : 02/20/2021 at 17:49
CONSTRUCTION
- Beds : 4
- Floor Size : 2,329 sqft
- Baths : 3 full
Listing Agent
Reyna Martinez, Broker
Listing Agent's Description
Oh, the comfort of being home! Not many opportunities out there like this! Located on top of a hill in a cul-de-sac in West Covina. This property has a gorgeous day and night view of 6 cities and boasts 4 bedrooms/ 2 ½ bathrooms! Large driveway that accommodates 5 cars, plus a 2 car garage! Front door welcomes a formal living room with fireplace, where you can share relaxing times, Spacious dining area. Kitchen is loaded with birch wood cabinets, granite countertops and plenty of storage. A comfortable and spacious open family room with second fireplace that connects in an open floor plan to the kitchen and patio. Additional features include central heating, AC, recessed lights, low maintenance front and back, travertine floors, carpet and laundry room. 3 EV plug-in charge stations (two that runs on its own 220/240 volts fast charge EV for lower rates and the third 220 EV charge station that runs as part of the house/solar panel). Paid solar panels for keeping your bills low! Backyard with covered patio is right-sized, perfect for gardening, grilling or relaxing. This property is part of the Rowland Unified School District and students may attend the Walnut Unified School District with an approved transfer! Park and walk paths are within walking distance! The property is centrally located to shopping centers hosting fantastic restaurants, supermarkets, schools and freeways! Views! Views! Views of 6 different cities! This home is not to be missed!!
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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 | $3,190 |
| EXPENSES | Loan Payment | -$2,765 |
| Property Tax | -$874 | |
| Property Insurance | -$83 | |
| Property Management Fees | -$156 | |
|
CASH FLOW
-$688
|
||
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.
$795,999
PROJECTED PRICE
$3,190
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
$216,690
LOAN DETAILS
$2,765
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $199,000 |
| Loan Amount | $596,999 |
1.75
YEARS SAVED
$9,283
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,190
LIST RENT -
$1.37
LIST RENT PER SQFT
-
$3,459
COMP ESTIMATED VALUE -
$1.49
COMP AVG. RENT PER SQFT
Comps Range
-
2132 Art Place West Covina, CA 3
- 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1977
- Rent
- Rent Per SQFT
- $3,190
- $1.37
-
3527 Patricia Street West Covina, CA 1
- 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
-
19330 Castillo Court Walnut, CA 2
- 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1983
LEASED 11/05/20- Rent
- Rent Per SQFT
- $3,100
- $1.49
-
19125 Summit Ridge Drive Walnut, CA 4
- 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1985
LEASED 10/29/20- Rent
- Rent Per SQFT
- $3,200
- $1.49
-
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
Reyna Martinez, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21035616
Last Updated: 02/20/2021
