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PROPERTY INFO
FACTS
- Single Family
- Built In 1958
- Price/Sqft : $421.69
- 2 Days on Market
- MLS # : TR21052852
- Updated Date : 03/13/2021 at 15:42
CONSTRUCTION
- Beds : 3
- Floor Size : 1,411 sqft
- Baths : 1 full
Listing Agent
Remax 2000 Realty
Listing Agent's Description
Great location in a quiet and safe community of North El Monte...Very private and move-in conditions..... Walk distance to restaurants, supermarkets (including Asian Supermarkets), entertainment, schools, and close to I-10,60 and 605 freeways...... Consists of 3 bedrooms, 1 full bath....... Large kitchen that opens into the dinning room and living room....... Many upgrades has been done to the home with 3 years new roof, electric panel, recessed lighting, crown moldings, kitchen with granite counters and stainless steel appliances, bathroom and exterior......200 SQFT storage room with 2 doors and 2 large windows could be used as a 4th bedroom after permitted........ Situated in the back with a long driveway that can park more than 4 cars.....Private gated driveway is Not an easement!!! Sellers converted the attached garage to a dining room and a bedroom; applying a permit for the garage conversion .......Buyers may take this great chance to buy it low and assume the corrections required by the city.
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MARKET HIGHLIGHTS
- 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.
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Norwood Cherrylee
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Norwood Cherrylee
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,220 |
| EXPENSES | Loan Payment | -$2,067 |
| Property Tax | -$734 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$109 | |
|
CASH FLOW
-$751
|
||
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.
$595,000
PROJECTED PRICE
$2,220
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 7.5% |
| 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
$163,425
LOAN DETAILS
$2,067
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $148,750 |
| Loan Amount | $446,250 |
0.42
YEARS SAVED
$690
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,220
LIST RENT -
$1.57
LIST RENT PER SQFT
-
$2,568
COMP ESTIMATED VALUE -
$1.82
COMP AVG. RENT PER SQFT
Comps Range
-
4437 Fandon Avenue El Monte, CA 3
- 3 beds 1 baths ∙ 1,411 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,411 Sqft ∙ Built 1958
- Rent
- Rent Per SQFT
- $2,220
- $1.57
-
4845 Standell Avenue El Monte, CA 1
- 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1961
LEASED 10/06/20- Rent
- Rent Per SQFT
- $2,200
- $1.80
-
11630 Basye Street El Monte, CA 2
- 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1962
LEASED 10/03/19- Rent
- Rent Per SQFT
- $2,200
- $1.79
-
12248 Mulhall Street El Monte, CA 4
- 3 beds 1 baths ∙ 1,289 Sqft ∙ Built 1975 3 beds 1 baths ∙ 1,289 Sqft ∙ Built 1975
LEASED 12/30/20- Rent
- Rent Per SQFT
- $2,500
- $1.94
-
11358 Frankmont Street El Monte, CA 5
- 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1947
LEASED 07/31/20- Rent
- Rent Per SQFT
- $2,600
- $1.75
PROPERTY LISTING DETAILS
Remax 2000 Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21052852
Last Updated: 03/13/2021
