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2305 Ruby Court West Covina, CA 91792

3 Beds 2 Baths 1,338 sqft Built 1978

$649,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $485.05
  • 6 Days on Market
  • MLS # : AR21007387
  • Updated Date : 01/15/2021 at 12:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,338 sqft
  • Baths : 2 full
Listing Agent

Re/max Premier Prop Arcadia

Listing Agent's Description

This amazing house is in a Cul-De-Sac street on the most desirable gently rolling hill side. Your family will love this super quiet and nice neighborhood. This is the house you cannot afford to missing. Owner makes the best remodeling on this house. Walking in our front porch, this is new custom-made concrete paving. Open in the newer front door, coming in the Cathedral Ceiling living room, looking around, you will find out this house has newer doors and windows, newer floor, newer central island, newer kitchen, newer cabinet, newer countertop, newer range, newer range hood, newer barn door closet, newer walking in closet for master, newer shower, newer tiles, newer fashion vanities, newer tankless water heater, newer water softener, newer patio and new paved back yard. It’s like a new house. This is the best home for your family. The house is closed to schools, shopping, entertainment, and transportation.

SEE MORE

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: 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
Hollingworth Elementary School Primary Regular 432 20 6
Hollingworth Elementary School Middle Regular 432 20 6
Nogales High School High Regular 1,959 84 5

Hollingworth Elementary School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 20
6
GreatSchools Rating

Hollingworth Elementary School

  • Education Level: Middle
  • # of students: 432
  • # of teachers: 20
6
GreatSchools Rating

Nogales High School

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

$584,100$713,900$649,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$2,254
Property Tax -$712
Property Insurance -$59
Property Management Fees -$115
CASH FLOW
-$791

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.

$649,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.36%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $2,362

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 2305 Ruby Court West Covina, CA 3
    • 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.76
    •  
  • 3720 Missouri Street West Covina, CA 1
    • 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 1978
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.70
    •  
  • 3805 Sycamore Street West Covina, CA 2
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1981
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.81
    •  
  • 1905 Yvonne Street West Covina, CA 4
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1977
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.82
    •  
  • 331 Vidalia Avenue La Puente, CA 5
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1960
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.73
    •  
PROPERTY LISTING DETAILS
Jindy Chen
Re/max Premier Prop Arcadia
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21007387
Last Updated: 01/15/2021
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