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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $353.24
- 4 Days on Market
- MLS # : BB21008948
- Updated Date : 01/15/2021 at 10:39
CONSTRUCTION
- Beds : 4
- Floor Size : 1,925 sqft
- Baths : 3 full
Listing Agent
Redfin Corporation
Listing Agent's Description
Lovely West Covina Two Story Home!!! This spacious dwelling is conveniently located close to schools, shopping and freeways. Perched on a lovely cul-de-sac street, this property offers views from both the front and back vantage points. The home has been freshly painted and offers new wood like flooring and carpeting. This updated property features modern light fixtures, canned lighting and remodeled bathrooms. With 4 bedrooms, including a primary bedroom en suite, and 3 bathrooms, this charming house has plenty of space for a growing family. Looking for a peaceful place to enjoy a morning cup of coffee or an evening glass of wine? Look no further. The primary bedroom has a large balcony with views of the hills. A perfect place for a tranquil getaway. Want to plant that garden or have a place for outdoor fun? The large backyard of this home can accommodate. Come see if this amazing property is the next place that you will call HOME!!!
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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: Woodside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Woodside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,010 |
| EXPENSES | Loan Payment | -$2,362 |
| Property Tax | -$721 | |
| Property Insurance | -$74 | |
| Property Management Fees | -$147 | |
|
CASH FLOW
-$294
|
||
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.
$679,988
PROJECTED PRICE
$3,010
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$185,947
LOAN DETAILS
$2,362
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $169,997 |
| Loan Amount | $509,991 |
4.08
YEARS SAVED
$25,834
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,010
LIST RENT -
$1.56
LIST RENT PER SQFT
-
$3,056
COMP ESTIMATED VALUE -
$1.59
COMP AVG. RENT PER SQFT
Comps Range
-
2602 E Myra Court West Covina, CA 3
- 3 beds 3 baths ∙ 1,925 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,925 Sqft ∙ Built 1979
- Rent
- Rent Per SQFT
- $3,010
- $1.56
-
18970 Cedar Ridge Court Walnut, CA 1
- 4 beds 2 baths ∙ 1,812 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,812 Sqft ∙ Built 1985
LEASED 01/20/20- Rent
- Rent Per SQFT
- $2,790
- $1.54
-
864 N Lorri Way Walnut, CA 2
- 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1986
LEASED 08/17/20- Rent
- Rent Per SQFT
- $2,900
- $1.66
-
19330 Castillo Court Walnut, CA 4
- 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1983
LEASED 11/05/20- Rent
- Rent Per SQFT
- $3,100
- $1.49
-
623 Running Deer Road Walnut, CA 5
- 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1985
LEASED 09/02/20- Rent
- Rent Per SQFT
- $3,300
- $1.66
PROPERTY LISTING DETAILS
Redfin Corporation
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: BB21008948
Last Updated: 01/15/2021
