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PROPERTY INFO
FACTS
- Single Family
- Built In 1949
- Price/Sqft : $463.91
- 3 Days on Market
- MLS # : WS21035156
- Updated Date : 02/20/2021 at 15:14
CONSTRUCTION
- Beds : 3
- Floor Size : 1,250 sqft
- Baths : 2 full
Listing Agent
Re/max 1000 Realty
Listing Agent's Description
Welcome to a beautifully remodeled home located in the highly desirable area of Baldwin Park. This home sits on one of the quietest streets featuring 3 beds 2 baths and has been updated from top to bottom with many upgrades including new bathroom addition with permit, double pane windows, LED recess lights, HVAC unit, water heater, wood floors, new interior paint, stucco, electrical panel, copper plumbing through-out, and much more... For the chef in the family, there is a bright modern kitchen with an exotic Quarts countertops, complemented with beautiful tile backsplash, antique white custom cabinets, and stainless-steel appliances. The open floor plan offers a spacious modern living / dining area with sliding doors that overlooks the huge back yard. Enjoy the outdoor with friends and family as the exterior features beautifully manicure Landscapes in the front and backyard with new irrigation system and timer. All rooms are nicely sized. This homes location quite simply can't be beat along with being extremely pleasant and welcoming. Close to major freeways. Come and see this stunning move in ready home and make it yours today.
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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)
- 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]
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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'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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Baldwin Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,390 |
| EXPENSES | Loan Payment | -$2,014 |
| Property Tax | -$635 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$117 | |
|
CASH FLOW
-$434
|
||
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.
$579,888
PROJECTED PRICE
$2,390
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$159,420
LOAN DETAILS
$2,014
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $144,972 |
| Loan Amount | $434,916 |
2.33
YEARS SAVED
$9,879
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 -
$1.91
LIST RENT PER SQFT
-
$2,541
COMP ESTIMATED VALUE -
$2.03
COMP AVG. RENT PER SQFT
Comps Range
-
4308 Alta Lake Avenue Baldwin Park, CA 2
- 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1949
![property image]()
- Rent
- Rent Per SQFT
- $2,390
- $1.91
-
14537 Chilcot Street Baldwin Park, CA 1
- 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1964
![property image]()
LEASED 09/19/20- Rent
- Rent Per SQFT
- $2,350
- $2.22
-
5102 Wimmer Avenue Baldwin Park, CA 3
- 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1949
![property image]()
LEASED 07/08/20- Rent
- Rent Per SQFT
- $2,450
- $1.91
-
14023 Ohio Street Baldwin Park, CA 4
- 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1947
![property image]()
LEASED 11/16/19- Rent
- Rent Per SQFT
- $2,500
- $2.13
-
4518 Jerry Avenue Baldwin Park, CA 5
- 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1968
![property image]()
LEASED 11/09/20- Rent
- Rent Per SQFT
- $2,500
- $1.87
PROPERTY LISTING DETAILS
Re/max 1000 Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS21035156
Last Updated: 02/20/2021
