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264 N Rodecker Drive Azusa, CA 91702

3 Beds 2 Baths 1,371 sqft Built 1949

$560,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $408.46
  • 7 Days on Market
  • MLS # : IV20248769
  • Updated Date : 12/04/2020 at 08:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,371 sqft
  • Baths : 2 full
Listing Agent

Re/max Time Realty

Listing Agent's Description

Charming 3 Bedroom, 1-3/4 baths home on a quiet tree lined street. With the added permitted square footage this home is great for a growing family. The interior has been recently painted and new laminate wood floors have been added in the den area. This home has an attached two-car garage and lots of extra parking, including a generous long concrete driveway, perfect for your RV / boat! Home is in close distance to Metro Gold Line for easy commuting to downtown LA (as well as the 210 freeway). Close to Azusa Pacific University, Citrus College, shopping (Costco, Target, etc.), as well as hiking trails and the San Gabriel River Biking Trail.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,066
Property Tax -$590
Property Insurance -$60
Property Management Fees -$117
CASH FLOW
-$444

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.

$560,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.43%

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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$11,977

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $2,653

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3903$2,4004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 264 N Rodecker Drive Azusa, CA 2
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.74
    •  
  • 18852 E Galatea Street Azusa, CA 1
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.87
    •  
  • 939 E Hollyvale Street Azusa, CA 3
    • 4 beds 2 baths ∙ 1,225 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,225 Sqft ∙ Built 1955
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.96
    •  
  • 211 S Cerritos Avenue Azusa, CA 4
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1952
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
  • 5921 Cedarglen Drive Azusa, CA 5
    • 4 beds 2 baths ∙ 1,468 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,468 Sqft ∙ Built 1955
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.91
    •  
PROPERTY LISTING DETAILS
Christian Medina
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20248769
Last Updated: 12/04/2020
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