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5035 Lante Street Baldwin Park, CA 91706

3 Beds 2 Baths 1,098 sqft Built 1963

$529,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $482.60
  • 4 Days on Market
  • MLS # : TR21051837
  • Updated Date : 03/11/2021 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,098 sqft
  • Baths : 2 full
Listing Agent

New Century Homes

Listing Agent's Description

Welcome to this 3 Bedroom 1.5 Bath, breakfast area, laundry room and a 2 car detached garage, single family home, close to 1100 sq. feet of living area in the city of Baldwin Park with an over 8,400 square foot useable lot. House is legal and permitted, however as per city latest zoning map, the zoning has been changed to Industrial zoning which opens a wide variety of other uses, buyers and agents to do their own investigation as to possible uses. Cooperative tenant occupied, tenant is aware and has agreed to move out before close of escrow. First showing will be Saturday 03/13/2021 from 10:00 AM to 2:00 PM in 15 minutes increments, please be prompt and courteous. Make sure to follow Covid 19 rules and regulations. Everybody entering the property must wear mask and gloves, agents please leave your business card.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $147k622k

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

Neighborhood: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13662941

* 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
Holland Middle School Middle Regular 547 24 4
Baldwin Park High School High Regular 1,979 79 6

Holland Middle School

  • Education Level: Middle
  • # of students: 547
  • # of teachers: 24
4
GreatSchools Rating

Baldwin Park High School

  • Education Level: High
  • # of students: 1,979
  • # of teachers: 79
6
GreatSchools Rating
 

$476,910$582,890$529,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,841
Property Tax -$581
Property Insurance -$54
Property Management Fees -$110
CASH FLOW
-$344

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.

$529,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.0%
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$15k

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$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$11,951

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $2,284

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,2403$2,3004$2,3505$2,450
$2,450
RENT COMPS ANALYSIS
  • 5035 Lante Street Baldwin Park, CA 2
    • 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $2.04
    •  
  • 16202 E Kingside Drive Covina, CA 1
    • 3 beds 1 baths ∙ 953 Sqft ∙ Built 1954 3 beds 1 baths ∙ 953 Sqft ∙ Built 1954
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $2.10
    •  
  • 4142 N Yaleton Avenue Covina, CA 3
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1950
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.09
    •  
  • 14537 Chilcot Street Baldwin Park, CA 4
    • 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1964
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.22
    •  
  • 5102 Wimmer Avenue Baldwin Park, CA 5
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1949
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.91
    •  
PROPERTY LISTING DETAILS
Vincent Perez
New Century Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21051837
Last Updated: 03/11/2021
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