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PROPERTY INFO
FACTS
- Single Family
- Built In 1958
- Price/Sqft : $399.31
- 4 Days on Market
- MLS # : CV20250231
- Updated Date : 12/03/2020 at 09:26
CONSTRUCTION
- Beds : 4
- Floor Size : 1,450 sqft
- Baths : 2 full
Listing Agent
Re/max Masters Realty
Listing Agent's Description
Welcome to this beautiful home located in a desirable neighborhood of Covina. Upon walking up to the home you will notice it sits on a large lot that offers an abundance of parking. As you enter into the home you are welcomed into the bright and spacious living room. Adjacent to the living room you will find the dining area and kitchen which provides that desirable open concept. The kitchen has newly installed laminate floors, brand new stove, hood range and refinished cabinetry. Continue through the home and you will find 4 moderately sized bedrooms with new carpet and 2 bathrooms. From the dining room there are sliding glass doors that will lead you into the HUGE backyard. The large backyard is perfect for entertainment. You are conveniently located minutes from shopping, restaurants, schools, and the 210 & 57 Fwy. Do not miss out on this amazing opportunity!
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Charter Oak
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Charter Oak
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,330 |
| EXPENSES | Loan Payment | -$2,136 |
| Property Tax | -$605 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$114 | |
|
CASH FLOW
-$588
|
||
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.
$579,000
PROJECTED PRICE
$2,330
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 6.3% |
| 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
$159,185
LOAN DETAILS
$2,136
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $144,750 |
| Loan Amount | $434,250 |
1.5
YEARS SAVED
$5,822
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,330
LIST RENT -
$1.61
LIST RENT PER SQFT
-
$2,309
COMP ESTIMATED VALUE -
$1.59
COMP AVG. RENT PER SQFT
Comps Range
-
4609 N Glen Arden Avenue Covina, CA 2
- 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 1958
- Rent
- Rent Per SQFT
- $2,330
- $1.61
-
731 Claraday Street Glendora, CA 1
- 3 beds 3 baths ∙ 1,260 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,260 Sqft ∙ Built 1973
LEASED 09/26/19- Rent
- Rent Per SQFT
- $2,000
- $1.59
-
1418 Avenida Loma Vista San Dimas, CA 3
- 4 beds 1 baths ∙ 1,635 Sqft ∙ Built 1972 4 beds 1 baths ∙ 1,635 Sqft ∙ Built 1972
LEASED 07/24/20- Rent
- Rent Per SQFT
- $2,600
- $1.59
-
1330 Avenida Loma San Dimas, CA 4
- 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1973
LEASED 08/01/20- Rent
- Rent Per SQFT
- $2,650
- $1.62
-
1809 E Sachs Place Covina, CA 5
- 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1957
LEASED 01/27/20- Rent
- Rent Per SQFT
- $2,800
- $1.57
PROPERTY LISTING DETAILS
Re/max Masters Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20250231
Last Updated: 12/03/2020
