Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5109 N Nearglen Avenue Covina, CA 91724

3 Beds 2 Baths 1,540 sqft Built 1956

$625,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $405.84
  • 5 Days on Market
  • MLS # : CV20241205
  • Updated Date : 11/20/2020 at 12:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 1 full , 1 half
Listing Agent

Century 21 Citrus Realty Inc

Listing Agent's Description

Situated in a quiet cul-de-sac, this single level 3 Bed/1.5 Bath home is located in the award winning Charter Oak School District. Features include: * New Roof * Newly Remodeled Bright Kitchen including Stainless Steel Appliances * Kitchen Opens up to Dining Area and Family Room * Breakfast Bar *Double Pane Windows * Plantations Shutters * Recessed Lighting * Ceiling Fans throughout * Dual Side Brick Wood/Gas Burning Fireplace * Central A/C and Heating * Expansive Rear Yard for Outdoor Activities & Entertainment * Additional Permitted Family Room * Block Walls in Backyard * Concrete Patio Covered Patio Space * Hot Tub * Oversize Driveway with RV Parking (or boat, work truck..) * Centrally located and near schools, freeways and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,306
Property Tax -$653
Property Insurance -$64
Property Management Fees -$120
CASH FLOW
-$703

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.

$625,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.39%

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-$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$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$4,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.58

    LIST RENT PER SQFT
  • $2,468

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3803$2,4404$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 5109 N Nearglen Avenue Covina, CA 3
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.58
    •  
  • 4925 N Brightview Drive Covina, CA 1
    • 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 2
    • 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
    •  
  • 1630 Bonnie Cove Avenue Glendora, CA 5
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1959
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.66
    •  
PROPERTY LISTING DETAILS
Rebeca Kachlik
Century 21 Citrus Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20241205
Last Updated: 11/20/2020
BESbswy