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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $431.66
- 4 Days on Market
- MLS # : SB21018967
- Updated Date : 01/28/2021 at 22:37
CONSTRUCTION
- Beds : 3
- Floor Size : 1,851 sqft
- Baths : 2 full
Listing Agent
Keller Williams Palos Verdes
Listing Agent's Description
VIEW! VIEW! VIEW! Beautifully remodeled well maintained single level house with gorgeous CITY LIGHTS & MOUNTAIN VIEWS! Sitting on a hilltop from the most desirable street in Rowland Heights, enjoy the views of the sparkling city lights and snow capped mountains during the winter from the living room, dining room, kitchen and family room! Double entry doors lead into the open and spacious family and living room with vaulted ceilings. Open and spacious rooms with laminate flooring and double paned windows are all throughout the home. A gourmet kitchen with oak cabinets and granite counter tops opens to a large separate family room with a fireplace. A master suite with high ceiling. A master bathroom with a separate toilet room and a dual vanity. There is a large bonus room with plenty of sunlight overlooking the backyard and mountains for a perfect study/office area or playroom which is not included in the sq ft of the home. A large flat backyard with spacious covered patio and the nice views of the city lights and mountains. Very convenient location with easy access to shopping/restaurants and the 60 fwy.
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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)
- 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: Rowland Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rowland Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,750 |
| EXPENSES | Loan Payment | -$2,775 |
| Property Tax | -$835 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
-$1,067
|
||
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.
$799,000
PROJECTED PRICE
$2,750
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 5.0% |
| 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
$217,485
LOAN DETAILS
$2,775
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $199,750 |
| Loan Amount | $599,250 |
0.33
YEARS SAVED
$429
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,750
LIST RENT -
$1.49
LIST RENT PER SQFT
-
$2,929
COMP ESTIMATED VALUE -
$1.58
COMP AVG. RENT PER SQFT
Comps Range
-
2215 Fallen Drive Rowland Heights, CA 1
- 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1979
- Rent
- Rent Per SQFT
- $2,750
- $1.49
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2233 Maystone Place Rowland Heights, CA 2
- 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1969
LEASED 02/19/20- Rent
- Rent Per SQFT
- $2,850
- $1.61
-
2003 Avenida Del Canada Rowland Heights, CA 3
- 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 1988
LEASED 05/31/20- Rent
- Rent Per SQFT
- $3,100
- $1.53
-
17012 Kirk View Dr Hacienda Heights, CA 4
- 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 1984
LEASED 07/23/20- Rent
- Rent Per SQFT
- $3,100
- $1.60
-
17764 La Pasaita Court Rowland Heights, CA 5
- 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1986
LEASED 05/20/20- Rent
- Rent Per SQFT
- $3,250
- $1.59
PROPERTY LISTING DETAILS
Keller Williams Palos Verdes
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB21018967
Last Updated: 01/28/2021
