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3409 Camero Avenue La Verne, CA 91750

3 Beds 2 Baths 1,315 sqft Built 1977

$675,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 1977
  • Price/Sqft : $513.31
  • 8 Days on Market
  • MLS # : SW20226929
  • Updated Date : 10/27/2020 at 14:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,315 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mcdaniel & Assoc.

Listing Agent's Description

Wally and the Beaver wished that they had grown up in this neighborhood! This turn-key three bedroom, two bath single-story home features an in-ground swimming pool and entertainer's backyard. The open-style kitchen has been remodeled with newer cabinets, slide-in range, over-stove microwave, dishwasher, garbage disposal and granite counters. Large ceramic tile runs through the kitchen and family rooms and a large sliding glass door leads onto the backyard and pool. Current tenants are paying $2,300 per month and would be open to staying should an investor buy the property, but are planning to have to move should the new buyer so wish.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lordsburg

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: Lordsburg

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14593697

* 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
Grace Miller Elementary School Primary Regular 408 18 9
Ramona Middle School Middle Regular 1,406 51 9
Bonita High School High Regular 1,968 74 9

Grace Miller Elementary School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 18
9
GreatSchools Rating

Ramona Middle School

  • Education Level: Middle
  • # of students: 1,406
  • # of teachers: 51
9
GreatSchools Rating

Bonita High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 74
9
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,490
Property Tax -$675
Property Insurance -$59
Property Management Fees -$116
CASH FLOW
-$970

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.

$675,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.8

    LIST RENT PER SQFT
  • $2,558

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3003$2,3704$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 3409 Camero Avenue La Verne, CA 3
    • 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.80
    •  
  • 3805 Abbey Way La Verne, CA 1
    • 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1972
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.86
    •  
  • 3922 Chelsea Drive La Verne, CA 2
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1974
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.05
    •  
  • 1201 Danton Street La Verne, CA 4
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1972
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.03
    •  
  • 3315 Logan Street La Verne, CA 5
    • 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.84
    •  
PROPERTY LISTING DETAILS
Vincent Puterbaugh
Century 21 Mcdaniel & Assoc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20226929
Last Updated: 10/27/2020
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