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4663 Blackrock Avenue La Verne, CA 91750

4 Beds 3 Baths 2,072 sqft Built 1977

$797,900

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $385.09
  • 7 Days on Market
  • MLS # : SR21015832
  • Updated Date : 01/25/2021 at 14:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,072 sqft
  • Baths : 3 full
Listing Agent

Johnhart Corp.

Listing Agent's Description

This beautiful 4 bedroom, 3 bathroom home in La Verne boasts over 2,000 sq ft of space. Ambient natural light floods the residence as you enter, while engineered wood flooring spreads in every direction. The front entry includes a fireplace to keep you warm on colder nights and a handy closet. The kitchen is attractive and modern, featuring a large kitchen island, stainless steel appliances, handsome wood cabinetry, and plenty of countertop space to cook masterpiece meals. Plus, an adjoining pantry provides plenty of space for all your cooking essentials. Step out through the French double doors to your grassy backyard, complete with a back wall and foliage for added privacy. Last but not least, this wonderful residence is mere minutes from Glendora Country Club, San Dimas Canyon Golf Course, and the San Dimas Canyon Park.

SEE MORE

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Foxglen

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Foxglen

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16243697

* 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
Allen Avenue Elementary School Primary Regular 484 23 8
Ramona Middle School Middle Regular 1,406 51 9
Bonita High School High Regular 1,968 74 9

Allen Avenue Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 23
8
GreatSchools Rating

Ramona Middle School

  • Education Level: Middle
  • # of students: 1,406
  • # of teachers: 51
9
GreatSchools Rating

Bonita High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 74
9
GreatSchools Rating
 

$718,110$877,690$797,900

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,771
Property Tax -$785
Property Insurance -$77
Property Management Fees -$145
CASH FLOW
-$828

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.

$797,900

PROJECTED PRICE

$2,950

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$217,194

INVESTMENT

$217,194

Down Payment
$199,475
Rehab Estimate
$5,750
Closing Costs
$11,969

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,475
Loan Amount $598,425
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $3,061

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,9503$3,1404$3,1755$3,200
$3,200
RENT COMPS ANALYSIS
  • 4663 Blackrock Avenue La Verne, CA 2
    • 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.42
    •  
  • 962 Bidwell Road San Dimas, CA 1
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1989
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.50
    •  
  • 4706 Bunnelle Ave La Verne, CA 3
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1976
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $1.48
    •  
  • 621 N Hatfield Avenue San Dimas, CA 4
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1963
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,175
    • $1.49
    •  
  • 1162 Oak Knoll Ter La Verne, CA 5
    • 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 1973
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.44
    •  
PROPERTY LISTING DETAILS
John Maseredjian
Johnhart Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21015832
Last Updated: 01/25/2021
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