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3543 Damien Avenue La Verne, CA 91750

3 Beds 2 Baths 1,609 sqft Built 1998

$779,800

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $484.65
  • 6 Days on Market
  • MLS # : CV21012011
  • Updated Date : 01/19/2021 at 19:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,609 sqft
  • Baths : 2 full
Listing Agent

Re/max Masters Realty

Listing Agent's Description

COMPLETELY REMODELED SINGLE STORY ON A PRIVATE DRIVE. A strong elevation, green lawn, planters, a concrete driveway to an attached two car garage and second concrete driveway leading to RV parking. An impressive covered front porch offers stacked stone pillar & leads to double entry door. The entryway opens to an open and bright floor plan w/brand new laminate wood floors that run throughout the home. The living room features vaulted ceilings, recessed lighting, an elevated fireplace & windows w/plantation shutters. The family room also offers vaulted ceilings, recessed lighting, a fireplace, sliding door to the backyard & is open to the kitchen. The kitchen has newer cabinetry, quartz countertops, brand new stainless steel appliances, recessed lighting & a breakfast nook. The master bedroom offers vaulted ceilings, windows w/wood shutters that overlook the backyard & a walk-in closet. Master bathroom features a brand new floating designer vanity w/dual sinks & new faucets, a mirror w/built-in lighting & a shower/tub w/sliding glass door. Two additional bedrooms w/mirrored closet doors plus a remodeled guest bath also w/floating vanity, mirror w/built-in lighting & a shower/tub w/sliding glass doors. The spacious backyard offers a newly installed sod lawn, mature trees, perimeter planters & a covered patio w/concrete slab.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: West la Verne

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $187k676k

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

Neighborhood: West la Verne

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001700180019002000210022002300240025002600270028002900Rent in $15232941

* 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
Allen Avenue Elementary School Primary Regular 484 23 8
Ramona Middle School Middle Regular 1,406 51 9
Bonita High School High Regular 1,968 74 9

Allen Avenue Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 23
8
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
 

$701,820$857,780$779,800

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,709
Property Tax -$775
Property Insurance -$66
Property Management Fees -$128
CASH FLOW
-$1,067

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.

$779,800

PROJECTED PRICE

$2,610

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$212,397

INVESTMENT

$212,397

Down Payment
$194,950
Rehab Estimate
$5,750
Closing Costs
$11,697

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,709

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $194,950
Loan Amount $584,850
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $2,619

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,610
1$2,6102$2,6753$2,6954$2,7005$2,700
$2,700
RENT COMPS ANALYSIS
  • 3543 Damien Avenue La Verne, CA 1
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.62
    •  
  • 2441 Sylvian Lane La Verne, CA 2
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1978
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.76
    •  
  • 962 Bidwell Road San Dimas, CA 3
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1989
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.50
    •  
  • 1967 Canopy Lane La Verne, CA 4
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 2013
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.72
    •  
  • 1932 Canopy Lane La Verne, CA 5
    • 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 2013
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.53
    •  
PROPERTY LISTING DETAILS
Nicholas Abbadessa
Re/max Masters Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21012011
Last Updated: 01/19/2021
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