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4932 N Jenifer Avenue Covina, CA 91724

3 Beds 2 Baths 1,410 sqft Built 1956

$618,800

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1956
  • Price/Sqft : $438.87
  • 11 Days on Market
  • MLS # : CV20224200
  • Updated Date : 11/01/2020 at 07:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,410 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Blackstone Rty

Listing Agent's Description

Welcome to this newly updated, charming, Traditional style home! This 3 bedroom, 2 bath home boasts a completely updated kitchen, bathrooms, new flooring, energy efficient windows, new copper plumbing, and new electrical throughout. The large, open kitchen has all new stainless-steel appliances, subway tile backsplash, butcher block countertops, soft-close drawers and cabinets, and farmhouse style sink. Step into the spacious living space, complete with a dining area, butcher block bar counter, and gas burning fireplace with marble hearth. Down the hallway, there is ample amount of linen cabinets with plenty of storage, along with new recessed lighting throughout the home. All 3 bedrooms include mirrored closets with recessed lighting inside and built-in storage. The hallway bathroom is complete with a barn door style glass enclosure with subway tile, charming vanity, and new tile flooring. The master bedroom includes an en-suite bathroom with large, white, rain-like tiled shower with full glass enclosure. Outside, the large, covered, back patio has a gas fire pit, grass area, and bbq/bar-top, perfect for entertaining at home. There is also a side yard complete with several Fruit trees. An added bonus to the back yard is a detached studio, complete with windows, new flooring, new electrical; perfect to use as an exercise studio, painting studio or a darling playhouse! This property is in the Charter Oak School District and is just waiting for new owners to make it a home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Charter Oak

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $182k622k

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

Neighborhood: Charter Oak

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14162941

* 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
Cedargrove Elementary School Primary Regular 778 30 6
Cedargrove Elementary School Middle Regular 778 30 6
Charter Oak High School High Regular 1,735 61 6

Cedargrove Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 30
6
GreatSchools Rating

Cedargrove Elementary School

  • Education Level: Middle
  • # of students: 778
  • # of teachers: 30
6
GreatSchools Rating

Charter Oak High School

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

$556,920$680,680$618,800

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,283
Property Tax -$647
Property Insurance -$61
Property Management Fees -$110
CASH FLOW
-$851

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.

$618,800

PROJECTED PRICE

$2,250

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,732

INVESTMENT

$169,732

Down Payment
$154,700
Rehab Estimate
$5,750
Closing Costs
$9,282

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,283

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,700
Loan Amount $464,100
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $2,281

    COMP ESTIMATED VALUE
  • $1.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3804$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 4932 N Jenifer Avenue Covina, CA 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.60
    •  
  • 4925 N Brightview Drive Covina, CA 2
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1954
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.53
    •  
  • 356 W Laxford Street Glendora, CA 3
    • 4 beds 3 baths ∙ 1,400 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,400 Sqft ∙ Built 1958
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.70
    •  
  • 466 N Calmgrove Avenue Covina, CA 4
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1958
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.52
    •  
  • 457 E Benwood Street Covina, CA 5
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1955
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.72
    •  
PROPERTY LISTING DETAILS
Cynthia Carava
Coldwell Banker Blackstone Rty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20224200
Last Updated: 11/01/2020
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