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PROPERTY INFO
FACTS
- Single Family
- Built In 1976
- Price/Sqft : $457.64
- 3 Days on Market
- MLS # : CV21018623
- Updated Date : 01/30/2021 at 12:09
CONSTRUCTION
- Beds : 3
- Floor Size : 1,440 sqft
- Baths : 2 full
Listing Agent
Mgr Real Estate, Inc.
Listing Agent's Description
Completely remodeled single story three-bedroom two full bath home located in West Covina’s most highly desirable area bordering the City of Walnut. Just minutes away from stores, shops, restaurants and MT. SAC College. As you enter, you are greeted by the bright and open living room offering a warm fireplace and spacious living area for family gatherings, or just relaxing by the fire. The impeccable detail and design of the home offers laminated wood plank flooring, modern wall color and classy plantation shutters. This home features new floors, new paint, new quartz counter tops and new bathrooms with walk-in showers and glass shower doors. The completely remodeled kitchen offers new quartz counter tops, new stainless steel appliances and new cabinets that will highlight the modern tile backsplash. This is sure to be a hit for any chef or home cook. The spacious Zen backyard with covered patio offers a nice private space for entertaining. Situated near the 10, 60 and 57 freeways offers an easy commute to downtown LA, or the Inland Empire. This is truly the perfect place to call home! Call to schedule a tour before it’s gone!
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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 | $2,440 |
| EXPENSES | Loan Payment | -$2,289 |
| Property Tax | -$699 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$120 | |
|
CASH FLOW
-$729
|
||
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.
$659,000
PROJECTED PRICE
$2,440
PROJECTED RENT
0.37%
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
$180,385
LOAN DETAILS
$2,289
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $164,750 |
| Loan Amount | $494,250 |
0.92
YEARS SAVED
$2,553
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,440
LIST RENT -
$1.69
LIST RENT PER SQFT
-
$2,441
COMP ESTIMATED VALUE -
$1.7
COMP AVG. RENT PER SQFT
Comps Range
-
2626 E Maureen Street West Covina, CA 3
- 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1976
![property image]()
- Rent
- Rent Per SQFT
- $2,440
- $1.69
-
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
![property image]()
LEASED 06/13/20- Rent
- Rent Per SQFT
- $2,250
- $1.70
-
2612 Paseo Olivas West Covina, CA 2
- 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1978
![property image]()
LEASED 06/01/20- Rent
- Rent Per SQFT
- $2,350
- $1.56
-
18885 Sutter Creek Drive Walnut, CA 4
- 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1981
![property image]()
LEASED 09/02/20- Rent
- Rent Per SQFT
- $2,550
- $1.74
-
19143 Aurora Drive Walnut, CA 5
- 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1983
![property image]()
LEASED 07/07/20- Rent
- Rent Per SQFT
- $2,600
- $1.78
PROPERTY LISTING DETAILS
Mgr Real Estate, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21018623
Last Updated: 01/30/2021
