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3406 Millbury Avenue Baldwin Park, CA 91706

3 Beds 2 Baths 1,674 sqft Built 1961

$658,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $393.07
  • 5 Days on Market
  • MLS # : RS20264501
  • Updated Date : 12/31/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,674 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Leaders

Listing Agent's Description

Hidden Gem, This charming 3 bedroom and 2 bathroom single family residence with spacious 2 car garage, has a great front patio, spacious entry, living room and open kitchen. Brick fireplace in family room. Ceiling fans in all bedrooms. Attached garage. Close to downtown Baldwin Park and 10 Freeway, walking distance to schools.

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: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $147k622k

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

Neighborhood: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13662941

* 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
Vineland Elementary School Primary Regular 781 31 4
Jones Junior High School Middle Regular 483 22 4
Baldwin Park High School High Regular 1,979 79 6

Vineland Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 31
4
GreatSchools Rating

Jones Junior High School

  • Education Level: Middle
  • # of students: 483
  • # of teachers: 22
4
GreatSchools Rating

Baldwin Park High School

  • Education Level: High
  • # of students: 1,979
  • # of teachers: 79
6
GreatSchools Rating
 

$592,200$723,800$658,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,428
Property Tax -$721
Property Insurance -$68
Property Management Fees -$128
CASH FLOW
-$724

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.

$658,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,120

INVESTMENT

$180,120

Down Payment
$164,500
Rehab Estimate
$5,750
Closing Costs
$9,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,500
Loan Amount $493,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,599

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $2,783

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5804$2,6205$2,800
$2,800
RENT COMPS ANALYSIS
  • 3406 Millbury Avenue Baldwin Park, CA 4
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $1.57
    •  
  • 1901 W Devers Street West Covina, CA 1
    • 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.71
    •  
  • 1817 W Doublegrove Street West Covina, CA 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1955
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.65
    •  
  • 14835 Clydewood Street Baldwin Park, CA 3
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1949
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.69
    •  
  • 1334 Ardilla Avenue La Puente, CA 5
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1956
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.60
    •  
PROPERTY LISTING DETAILS
Antonio Rodriguez
Coldwell Banker Leaders
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS20264501
Last Updated: 12/31/2020
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