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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1959
- Price/Sqft : $532.15
- 2 Days on Market
- MLS # : CV20258048
- Updated Date : 12/19/2020 at 06:42
CONSTRUCTION
- Beds : 3
- Floor Size : 1,101 sqft
- Baths : 1 full
Listing Agent
Sal Ramos, Broker
Listing Agent's Description
Don't miss out on this incredible opportunity to own this gorgeous TURNKEY home in the city of Covina . Featuring fresh NEW interior and exterior paint, NEW light fixtures throughout and recessed lighting in the kitchen, dining area and bathrooms. NEW flooring, NEW baseboards throughout, all NEW dual pane windows and slider! All the interior and exterior doors have also been replaced. Kitchen features NEW white shaker cabinets, new stainless steel appliances and NEW quartz counters!!! Both freshly refinished bathrooms have NEW vanities, and new fixtures . As you step into the backyard you will enjoy a re-constructed patio with durable vinyl lattice cover. This home is close to parks, schools, shopping, and freeways! This home is move in ready !
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: Vincent
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Vincent
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,270 |
| EXPENSES | Loan Payment | -$2,162 |
| Property Tax | -$633 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$111 | |
|
CASH FLOW
-$690
|
||
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.
$585,900
PROJECTED PRICE
$2,270
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 8.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$161,014
LOAN DETAILS
$2,162
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $146,475 |
| Loan Amount | $439,425 |
1
YEARS SAVED
$2,815
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,270
LIST RENT -
$2.06
LIST RENT PER SQFT
-
$1,874
COMP ESTIMATED VALUE -
$1.7
COMP AVG. RENT PER SQFT
Comps Range
-
5135 N Varnell Avenue Covina, CA 2
- 3 beds 1 baths ∙ 1,101 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,101 Sqft ∙ Built 1959
![property image]()
- Rent
- Rent Per SQFT
- $2,270
- $2.06
-
5158 N Burwood Avenue Covina, CA 1
- 4 beds 2 baths ∙ 1,065 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,065 Sqft ∙ Built 1955
![property image]()
LEASED 03/08/20- Rent
- Rent Per SQFT
- $1,580
- $1.48
-
16631 E Masline Street Covina, CA 3
- 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1955
![property image]()
LEASED 01/24/20- Rent
- Rent Per SQFT
- $2,300
- $1.77
-
645 W Alcross Street Covina, CA 4
- 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1954
![property image]()
LEASED 09/14/19- Rent
- Rent Per SQFT
- $2,500
- $1.74
-
4937 N Clydebank Avenue Covina, CA 5
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1955
![property image]()
LEASED 08/29/19- Rent
- Rent Per SQFT
- $2,550
- $1.82
PROPERTY LISTING DETAILS
Sal Ramos, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20258048
Last Updated: 12/19/2020
