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502 Perth Avenue La Puente, CA 91744

3 Beds 1 Baths 924 sqft Built 1953

$515,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $557.36
  • 2 Days on Market
  • MLS # : DW21015316
  • Updated Date : 01/23/2021 at 21:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 924 sqft
  • Baths : 1 full
Listing Agent

Century 21 Allstars

Listing Agent's Description

Charming 3 bedrooms, 1 bath Home Centrally Located in the Beautiful City of La Puente! Home Features: Spacious Living Room, Formica Counter Tops in Kitchen, Beautiful Ceramic Tile Floors Throughout Living Room, Dinning, Kitchen, Bath and Hallway, Wood Laminate Floors in bedrooms. Formica Counter Tops in Kitchen, Formal Dining Room with Sliding Glass doors which lead to Permitted Recreation / Bonus Room, Well Manicured Back yard with Avocado, Lemon, Guava and several other Fruit Trees... New Roof, was replaced just one year ago.... A must see...

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: La Puente

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $141k622k

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

Neighborhood: La Puente

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13152941

* 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
Nelson Elementary School Primary Regular 383 18 4
Sparks Middle School Middle Regular 476 22 5
La Puente High School High Regular 1,403 54 6

Nelson Elementary School

  • Education Level: Primary
  • # of students: 383
  • # of teachers: 18
4
GreatSchools Rating

Sparks Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 22
5
GreatSchools Rating

La Puente High School

  • Education Level: High
  • # of students: 1,403
  • # of teachers: 54
6
GreatSchools Rating
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,789
Property Tax -$557
Property Insurance -$49
Property Management Fees -$101
CASH FLOW
-$427

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.

$515,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.40%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,651

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $1,735

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,2003$2,2004$2,2505$2,380
$2,380
RENT COMPS ANALYSIS
  • 502 Perth Avenue La Puente, CA 1
    • 3 beds 1 baths ∙ 924 Sqft ∙ Built 1953 3 beds 1 baths ∙ 924 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $2.24
    •  
  • 16622 Gumbiner Drive La Puente, CA 2
    • 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1957
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.93
    •  
  • 14028 Prichard Street La Puente, CA 3
    • 4 beds 1 baths ∙ 1,245 Sqft ∙ Built 1955 4 beds 1 baths ∙ 1,245 Sqft ∙ Built 1955
    property image
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.77
    •  
  • 16409 Main Street La Puente, CA 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.88
    •  
  • 1126 S Nantes Avenue Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1958
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.93
    •  
PROPERTY LISTING DETAILS
Laura Borbon
Century 21 Allstars
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21015316
Last Updated: 01/23/2021
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