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256 N Rodecker Drive Azusa, CA 91702

3 Beds 1 Baths 924 sqft Built 1949

$508,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $549.78
  • 3 Days on Market
  • MLS # : CV21018701
  • Updated Date : 01/29/2021 at 12:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 924 sqft
  • Baths : 1 full
Listing Agent

Re/max Masters Realty

Listing Agent's Description

Don't miss this neat and clean 3 bedroom home located on a quiet street, with a view of the mountains, in a desirable neighborhood north of the 210 freeway. Features include: great curb appeal, mature landscaping, newer windows, an open floor plan, a living-room/dining-area combination, a cozy kitchen, a tiled bathroom, a private back yard with garden rich soil, a large patio, and two storage sheds including one that the owner has previously used as an office. To see the floorplan, please click on the Virtual Tour.

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: Azusa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $150k622k

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

Neighborhood: Azusa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13812941

* 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
Charles Lee Elementary School Primary Regular 350 17 6
Foothill Middle School Middle Regular 589 29 3
Azusa High School High Regular 1,393 65 5

Charles Lee Elementary School

  • Education Level: Primary
  • # of students: 350
  • # of teachers: 17
6
GreatSchools Rating

Foothill Middle School

  • Education Level: Middle
  • # of students: 589
  • # of teachers: 29
3
GreatSchools Rating

Azusa High School

  • Education Level: High
  • # of students: 1,393
  • # of teachers: 65
5
GreatSchools Rating
 

$457,200$558,800$508,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,764
Property Tax -$536
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$549

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$508,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,370

INVESTMENT

$140,370

Down Payment
$127,000
Rehab Estimate
$5,750
Closing Costs
$7,620

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,000
Loan Amount $381,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,369

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,2503$2,3004$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 256 N Rodecker Drive Azusa, CA 1
    • 3 beds 1 baths ∙ 924 Sqft ∙ Built 1949 3 beds 1 baths ∙ 924 Sqft ∙ Built 1949
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $2.06
    •  
  • 18828 E Weather Road Covina, CA 2
    • 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1955
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.01
    •  
  • 708 S Washington Avenue Glendora, CA 3
    • 4 beds 2 baths ∙ 1,199 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,199 Sqft ∙ Built 1954
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.92
    •  
  • 18852 E Galatea Street Azusa, CA 4
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.87
    •  
  • 508 W Leeside Street Glendora, CA 5
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1953
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.90
    •  
PROPERTY LISTING DETAILS
Jonathan Starr
Re/max Masters Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21018701
Last Updated: 01/29/2021
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