Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $465.93
- 4 Days on Market
- MLS # : AR21038024
- Updated Date : 02/27/2021 at 17:40
CONSTRUCTION
- Beds : 3
- Floor Size : 1,350 sqft
- Baths : 1 full , 1 half
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Sharp North Azusa Contemporary nestled against the back drop of the San Gabriel Mountains. Flowing floor plan with tile foyer, tile foyer, open living room with stone whitewashed fireplace, inset bookcase & hardwood floors. Updated kitchen with built in stove & oven, dishwasher & tiled flooring leading out to adjacent dining area. Cozy den w closet opens through the slider to the rear yard, perfect for an extra guest room or office. Master-suite with double closet & tastefully remodeled 1/2 bath with custom marble topped vanity, marble floors & custom light sconces. Two additional amply sized bedrooms bright & airy w/built-in closets serviced by the upgraded hall bath with new subway tile, octagon tiled flooring, marble top vanity & custom hardware. A multitude of amenities such as vinyl windows & sliding doors, custom molding, new interior doors, new interior & exterior paint, newer electrical service & ductless air splits. Delightful rear yard with a shady covered patio, detailed concrete walkways, iceberg roses, rosemary & lavender & majestic mountain views. Double attached garage with laundry, concrete drive, inlaid brickwork & freshly landscaped drought resistant terrain. A special home awaits in the quiet foothills of Azusa! View the included Virtual Tour!
SEE MORE
MARKET HIGHLIGHTS
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
- 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Azusa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Azusa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,590 |
| EXPENSES | Loan Payment | -$2,185 |
| Property Tax | -$663 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
-$445
|
||
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.
$629,000
PROJECTED PRICE
$2,590
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$172,435
LOAN DETAILS
$2,185
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $157,250 |
| Loan Amount | $471,750 |
2.5
YEARS SAVED
$12,203
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,590
LIST RENT -
$1.92
LIST RENT PER SQFT
-
$2,602
COMP ESTIMATED VALUE -
$1.93
COMP AVG. RENT PER SQFT
Comps Range
-
324 W Channing Street Azusa, CA 3
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956
- Rent
- Rent Per SQFT
- $2,590
- $1.92
-
326 Cherry Hills Lane Azusa, CA 1
- 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1973
LEASED 10/29/20- Rent
- Rent Per SQFT
- $2,300
- $1.97
-
381 W Pebble Beach Lane Azusa, CA 2
- 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1973
LEASED 09/15/20- Rent
- Rent Per SQFT
- $2,450
- $1.94
-
1227 N Pasadena Avenue Azusa, CA 4
- 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960
LEASED 06/29/20- Rent
- Rent Per SQFT
- $2,600
- $1.81
-
159 N Marcile Avenue Glendora, CA 5
- 4 beds 1 baths ∙ 1,354 Sqft ∙ Built 1964 4 beds 1 baths ∙ 1,354 Sqft ∙ Built 1964
LEASED 02/27/20- Rent
- Rent Per SQFT
- $2,700
- $1.99
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservice
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: AR21038024
Last Updated: 02/27/2021
