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5002 Pamela Avenue El Monte, CA 91732

3 Beds 2 Baths 1,518 sqft Built 1970

$639,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $420.95
  • 5 Days on Market
  • MLS # : CV21008360
  • Updated Date : 01/14/2021 at 21:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,518 sqft
  • Baths : 2 full
Listing Agent

Century 21 Citrus Realty Inc

Listing Agent's Description

More photos to come: This is a FABULOUS opportunity for you to live in an established quiet-like neighborhood. There are friendly people on the street ready to be your neighbors. ~ This is a TURNKEY, UPDATED home that features NEWLY PAINTED exterior, WOOD LAMINATE FLOORING which makes it uber easy to maintain, New Baseboards, RECESSED LIGHTING and DUAL PANE WINDOWS helps keep the home energy efficient. ~ The LIVING ROOM with LARGE PICTURE WINDOW has a beautiful FIREPLACE to enjoy conversations with loved ones or watch your favorite shows where one might place above. ~ Flow down to OPEN SPACE area that can be used as FAMILY/DINING off from the UPDATED KITCHEN with SHAKER WHITE CABINETS, QUARTZ COUNTERS, STOVE (remains) and space to create your delicious meals. ~ From the garage step into the laundry area, continue to the bedrooms (nice size) and updated bathrooms. The Primary bedroom has a 3/4 bath and WALK-IN CLOSET ~ The backyard has areas for outdoor entertaining and a small area to garden or use however you wish. The location is ideal for those who need to commute to where ever you need to go. Enjoy the citrus trees this property has to offer. ~ Before this gets sold, SEE IT! LIKE IT! BUY IT!

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: Norwood Cherrylee

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: Norwood Cherrylee

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21700180019002000210022002300240025002600270028002900Rent in $16122941

* 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
Rio Hondo Elementary School Primary Regular 850 37 5
Rio Hondo Elementary School Middle Regular 850 37 5
Arroyo High School High Regular 2,301 92 7

Rio Hondo Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 37
5
GreatSchools Rating

Rio Hondo Elementary School

  • Education Level: Middle
  • # of students: 850
  • # of teachers: 37
5
GreatSchools Rating

Arroyo High School

  • Education Level: High
  • # of students: 2,301
  • # of teachers: 92
7
GreatSchools Rating
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,219
Property Tax -$789
Property Insurance -$64
Property Management Fees -$131
CASH FLOW
-$533

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.

$639,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,219

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$7,884

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $2,706

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,6004$2,6505$2,670
$2,670
RENT COMPS ANALYSIS
  • 5002 Pamela Avenue El Monte, CA 5
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $1.76
    •  
  • 5007 Peck Road El Monte, CA 1
    • 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 1986
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.75
    •  
  • 4613 Cypress Avenue El Monte, CA 2
    • 4 beds 3 baths ∙ 1,405 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,405 Sqft ∙ Built 1959
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.78
    •  
  • 5337 Hammill Road El Monte, CA 3
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1966
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.74
    •  
  • 11638 Lambert Avenue El Monte, CA 4
    • 4 beds 2 baths ∙ 1,427 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,427 Sqft ∙ Built 1986
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.86
    •  
PROPERTY LISTING DETAILS
Kimberly Olbrich
Century 21 Citrus Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21008360
Last Updated: 01/14/2021
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