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2237 Calle Taxco West Covina, CA 91792

3 Beds 3 Baths 1,703 sqft Built 1980

$450,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $264.24
  • 8 Days on Market
  • MLS # : TR20248040
  • Updated Date : 12/03/2020 at 12:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,703 sqft
  • Baths : 3 full
Listing Agent

Desert Sky Real Estate Inc.

Listing Agent's Description

3Bed 3 Full Bathroom with brand new AC! Good open floor plan with additional big laundry room! 2 car garage attach to the unit ! HOA swimming pool with jacuzzi! Wonderful house must see !

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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: Woodside

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $184k622k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Woodside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14392941

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Rorimer Elementary School Primary Regular 582 26 4
Rorimer Elementary School Middle Regular 582 26 4
Nogales High School High Regular 1,959 84 5

Rorimer Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 26
4
GreatSchools Rating

Rorimer Elementary School

  • Education Level: Middle
  • # of students: 582
  • # of teachers: 26
4
GreatSchools Rating

Nogales High School

  • Education Level: High
  • # of students: 1,959
  • # of teachers: 84
5
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,660
Property Tax -$483
Property Insurance -$68
HOA -$365
Property Management Fees -$123
CASH FLOW
-$199

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.

$450,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$18,583

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,500

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $2,780

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6503$2,7004$2,8005$2,900
$2,900
RENT COMPS ANALYSIS
  • 2237 Calle Taxco West Covina, CA 1
    • 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.47
    •  
  • 2647 Evelyn Avenue West Covina, CA 2
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.57
    •  
  • 18963 Trucke Way Walnut, CA 3
    • 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1982
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.64
    •  
  • 2004 Delores Street West Covina, CA 4
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1976
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.66
    •  
  • 864 N Lorri Way Walnut, CA 5
    • 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1986
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.66
    •  
PROPERTY LISTING DETAILS
Yi Tai Lin
Desert Sky Real Estate Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20248040
Last Updated: 12/03/2020
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