Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

466 S Rancho Del Sol Drive Covina, CA 91724

3 Beds 2 Baths 2,226 sqft Built 1969

$975,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $438.01
  • 2 Days on Market
  • MLS # : IV21007054
  • Updated Date : 01/16/2021 at 14:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,226 sqft
  • Baths : 2 full
Listing Agent

Four Clover Homes, Inc.

Listing Agent's Description

RARE FIND, YOUR FOREVER HOME! Gorgeous 3 bedroom, 2.5 bath, two story home in upscale Covina next to the Via Verde Country Club. Starting with high ceilings & a spacious open layout, with many great features. Formal living room & separate family room. Enjoy entertaining in the huge backyard with a covered patio and beautiful mature rose bushes and shrubs. Also included in the backyard is a shed for storing landscaping tools or extra storage. The kitchen includes granite counter tops, stainless steel oven/range and matching microwave. Beautiful family room with fireplace and built-in shelves/cabinets. Large Master bedroom with master bathroom is located on the first floor. Wrought iron staircase leads to the second floor and two large bedrooms with additional bathroom. Also included on the second floor is a large walk-in attic space made for storage or turn into office or man-cave. Two car attached garage. The house includes vinyl flooring, the roof is less than ten years old. This house will not last with todays market and limited inventory.

SEE MORE

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: Covina

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $187k622k

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

Neighborhood: Covina

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14182941

* 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
Badillo Elementary School Primary Regular 467 21 6
Badillo Elementary School Middle Regular 467 21 6
Charter Oak High School High Regular 1,735 61 6

Badillo Elementary School

  • Education Level: Primary
  • # of students: 467
  • # of teachers: 21
6
GreatSchools Rating

Badillo Elementary School

  • Education Level: Middle
  • # of students: 467
  • # of teachers: 21
6
GreatSchools Rating

Charter Oak High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 61
6
GreatSchools Rating
 

$877,500$1,072,500$975,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$3,387
Property Tax -$1,013
Property Insurance -$81
Property Management Fees -$157
CASH FLOW
-$1,437

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.

$975,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$264,125

INVESTMENT

$264,125

Down Payment
$243,750
Rehab Estimate
$5,750
Closing Costs
$14,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,387

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $243,750
Loan Amount $731,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $3,283

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,1503$3,2004$3,2905$3,300
$3,300
RENT COMPS ANALYSIS
  • 466 S Rancho Del Sol Drive Covina, CA 3
    • 3 beds 2 baths ∙ 2,226 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,226 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.44
    •  
  • 1461 E Wanamaker Drive Covina, CA 1
    • 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1972
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.40
    •  
  • 1309 Paseo Valle Covina, CA 2
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1975
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.56
    •  
  • 1431 Calle Linda San Dimas, CA 4
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1979
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $1.48
    •  
  • 1315 Paseo Corrido San Dimas, CA 5
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1976
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.46
    •  
PROPERTY LISTING DETAILS
Matthew Bollman
Four Clover Homes, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21007054
Last Updated: 01/16/2021
BESbswy