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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $448.82
- 2 Days on Market
- MLS # : CV21047126
- Updated Date : 03/06/2021 at 09:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,782 sqft
- Baths : 2 full
Listing Agent
Re/max Masters Realty
Listing Agent's Description
SINGLE STORY POOL HOME ON A LARGE LOT W/OWNED SOLAR. Front yard offers a large grass area, concrete driveway & walkway w/planter leading to a covered front porch. Double doors open to a tiled entryway that opens to the living & family rooms. The living room offers brand new carpet, bright front windows w/plantation shutters & and adjacent dining room w/mirrored accent wall. The family room offers laminate floors, vaulted ceilings, a brick fireplace, wet bar & is open to the kitchen. The kitchen features white cabinetry w/stainless steel appliances, neutral color countertops, countertop seating & recessed lighting. A bonus enclosed patio attached to the home, not counted in the square footage, features windows overlooking the backyard & is currently used as a gym. Down the hallway you'll find a spacious master bedroom w/wood grain patterned tile flooring, ceiling fan, wood accent wall & sliding door that overlooks the backyard & pool. Master bathroom w/spacious countertops & a shower w/sliding glass enclosure. Two additional bedrooms w/ ceiling fans, a remodeled hall bathroom & an indoor laundry room. The backyard offers a pool & spa w/spillway, artificial turf lawn, a custom sitting area, alumawood covered patio, planters w/queen palm trees & block wall perimeter.
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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)
- 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]
- 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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Foothill Corridor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Foothill Corridor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,090 |
| EXPENSES | Loan Payment | -$2,778 |
| Property Tax | -$799 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$151 | |
|
CASH FLOW
-$709
|
||
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.
$799,800
PROJECTED PRICE
$3,090
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 6.2% |
| 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
$217,697
LOAN DETAILS
$2,778
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $199,950 |
| Loan Amount | $599,850 |
1.67
YEARS SAVED
$8,940
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,090
LIST RENT -
$1.73
LIST RENT PER SQFT
-
$3,310
COMP ESTIMATED VALUE -
$1.86
COMP AVG. RENT PER SQFT
Comps Range
-
2245 Bowdoin Street La Verne, CA 2
- 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1979
- Rent
- Rent Per SQFT
- $3,090
- $1.73
-
3315 Logan Street La Verne, CA 1
- 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977
LEASED 11/15/19- Rent
- Rent Per SQFT
- $2,900
- $1.84
-
2689 Gem Circle La Verne, CA 3
- 4 beds 2 baths ∙ 1,654 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,654 Sqft ∙ Built 1977
LEASED 03/05/21- Rent
- Rent Per SQFT
- $3,100
- $1.87
-
4224 Stone Circle La Verne, CA 4
- 4 beds 1 baths ∙ 1,716 Sqft ∙ Built 1977 4 beds 1 baths ∙ 1,716 Sqft ∙ Built 1977
LEASED 08/20/20- Rent
- Rent Per SQFT
- $3,200
- $1.86
-
4275 Williams Avenue La Verne, CA 5
- 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 1981
LEASED 12/24/19- Rent
- Rent Per SQFT
- $3,300
- $1.86
PROPERTY LISTING DETAILS
Re/max Masters Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21047126
Last Updated: 03/06/2021
