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PROPERTY INFO
FACTS
- Single Family
- Built In 1952
- Price/Sqft : $374.28
- 2 Days on Market
- MLS # : TR21035770
- Updated Date : 02/20/2021 at 15:55
CONSTRUCTION
- Beds : 3
- Floor Size : 1,734 sqft
- Baths : 2 full
Listing Agent
Mtl Realty
Listing Agent's Description
Beautiful single story home in nice Covina neighborhood. 3 Bedroom, 2 bath. Newly updated kitchen with white cabinets and quartz countertop. Cozy family room with fireplace. Extra large lot. Move-in Ready.
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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: Covina
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Covina
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,700 |
| EXPENSES | Loan Payment | -$2,254 |
| Property Tax | -$649 | |
| Property Insurance | -$69 | |
| Property Management Fees | -$132 | |
|
CASH FLOW
-$404
|
||
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.
$649,000
PROJECTED PRICE
$2,700
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| 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
$177,735
LOAN DETAILS
$2,254
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $162,250 |
| Loan Amount | $486,750 |
3.08
YEARS SAVED
$16,234
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,700
LIST RENT -
$1.56
LIST RENT PER SQFT
-
$2,718
COMP ESTIMATED VALUE -
$1.57
COMP AVG. RENT PER SQFT
Comps Range
-
4430 N Sunflower Avenue Covina, CA 3
- 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1952
![property image]()
- Rent
- Rent Per SQFT
- $2,700
- $1.56
-
4925 N Brightview Drive Covina, CA 1
- 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1954
![property image]()
LEASED 01/28/20- Rent
- Rent Per SQFT
- $2,300
- $1.53
-
1418 Avenida Loma Vista San Dimas, CA 2
- 4 beds 1 baths ∙ 1,635 Sqft ∙ Built 1972 4 beds 1 baths ∙ 1,635 Sqft ∙ Built 1972
![property image]()
LEASED 07/24/20- Rent
- Rent Per SQFT
- $2,600
- $1.59
-
1809 E Sachs Place Covina, CA 4
- 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1957
![property image]()
LEASED 01/27/20- Rent
- Rent Per SQFT
- $2,800
- $1.57
-
210 N Rimhurst Avenue Covina, CA 5
- 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1972
![property image]()
LEASED 10/27/20- Rent
- Rent Per SQFT
- $2,995
- $1.58
PROPERTY LISTING DETAILS
Mtl Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21035770
Last Updated: 02/20/2021
