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

520 E Cienega Avenue Covina, CA 91722

4 Beds 2 Baths 1,306 sqft Built 1955

$549,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $420.37
  • 3 Days on Market
  • MLS # : OC21013065
  • Updated Date : 01/22/2021 at 19:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,306 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Welcome HOME to this amazing property located in Covina with a large lot. This is a spacious 4-bedroom 2-bath home that features an open-concept. The expansive living room is doubled in size for plenty of family space and a connected kitchen and dining area creates a great flow. The kitchen offers plenty of cabinet space and prep area on the granite counter tops. A lot of natural light comes through all of the newer dual-pane windows and sliders. All of the bedrooms are generous in size and the master bedroom features a private bathroom and a large closet. Brand new toilets and tile flooring has been recently added. Central AC/Heat is a great bonus, as well as a brand new roof completed last year. Ceiling fans throughout the house offers extra cooling in every room. The backyard is fully cemented for low maintenance upkeep, and features plenty of mature fruit trees - including limes, mandarins, guavas, persimmons, and peaches. The 2-car detached garage offers a ton of storage space, and includes an automatic door opener. The pride of ownership is apparent with a very well-kept home from an owner who has lived here for over 25 years. This special home is ready to go to another wonderful family!

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: Covina

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $187k622k

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

Neighborhood: Covina

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14182941

* 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
Ben Lomond Elementary School Primary Regular 467 17 5
Sierra Vista Middle School Middle Regular 888 36 5
South Hills High School High Regular 1,835 71 7

Ben Lomond Elementary School

  • Education Level: Primary
  • # of students: 467
  • # of teachers: 17
5
GreatSchools Rating

Sierra Vista Middle School

  • Education Level: Middle
  • # of students: 888
  • # of teachers: 36
5
GreatSchools Rating

South Hills High School

  • Education Level: High
  • # of students: 1,835
  • # of teachers: 71
7
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,907
Property Tax -$593
Property Insurance -$59
Property Management Fees -$117
CASH FLOW
-$286

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.

$549,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.2%
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

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$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,907

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$17,022

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $2,351

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,380
1$2,3802$2,3903$2,5004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 520 E Cienega Avenue Covina, CA 2
    • 4 beds 2 baths ∙ 1,306 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,306 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.83
    •  
  • 356 W Laxford Street Glendora, CA 1
    • 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
    •  
  • 4509 N Linda Terrace Drive Covina, CA 3
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1953
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.88
    •  
  • 457 E Benwood Street Covina, CA 4
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1955
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.72
    •  
  • 360 E Hurst Street Covina, CA 5
    • 3 beds 1 baths ∙ 1,470 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,470 Sqft ∙ Built 1955
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.90
    •  
PROPERTY LISTING DETAILS
Daniel Poon
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21013065
Last Updated: 01/22/2021
BESbswy