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 1954
- Price/Sqft : $422.59
- 3 Days on Market
- MLS # : CV21034387
- Updated Date : 02/20/2021 at 12:25
CONSTRUCTION
- Beds : 3
- Floor Size : 1,408 sqft
- Baths : 1 full
Listing Agent
Century 21 Marty Rodriguez
Listing Agent's Description
Charming and inviting, this lovely Covina house with a pool will make you feel right at home! As you enter the home, you are immediately welcomed by the living room with laminate wood flooring and an eye-catching veneer brick wall; it’s the perfect area for lounging and relaxing after a long day. The beautiful, veneer brick wall carries into the dining room and kitchen, offering vinyl tile flooring and French doors leading to the patio and pool area. You’ll love this home’s master bedroom, featuring a spacious layout, cozy brick fireplace, sliding glass doors to the backyard, separate seating area/home office, and master bathroom. This home is complete with 2 secondary bedrooms, additional hall bathroom, separate laundry room, 2-car detached garage, and new exterior paint. Now for the grand finale – the oasis-like backyard! Get ready to host BBQs, pool parties, and entertain family and friends in your new backyard boasting a new solar vinyl lined pool, flagstone flooring in the pool deck area, stone BBQ area, and extra-large covered patio. This home is the perfect fit for you! Give our team a call today to schedule your private showing.
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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]
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Citrus
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Citrus
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,660 |
| EXPENSES | Loan Payment | -$2,067 |
| Property Tax | -$668 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$130 | |
|
CASH FLOW
-$266
|
||
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.
$595,000
PROJECTED PRICE
$2,660
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$163,425
LOAN DETAILS
$2,067
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $148,750 |
| Loan Amount | $446,250 |
3.92
YEARS SAVED
$21,747
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,660
LIST RENT -
$1.89
LIST RENT PER SQFT
-
$2,693
COMP ESTIMATED VALUE -
$1.91
COMP AVG. RENT PER SQFT
Comps Range
-
5448 N Calera Avenue Covina, CA 5
- 3 beds 1 baths ∙ 1,408 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,408 Sqft ∙ Built 1954
- Rent
- Rent Per SQFT
- $2,660
- $1.89
-
18852 E Galatea Street Azusa, CA 1
- 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956
LEASED 06/03/20- Rent
- Rent Per SQFT
- $2,350
- $1.87
-
5657 N Rockvale Avenue Azusa, CA 2
- 4 beds 2 baths ∙ 1,220 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,220 Sqft ∙ Built 1954
LEASED 02/08/21- Rent
- Rent Per SQFT
- $2,400
- $1.97
-
1267 N Albertson Avenue Covina, CA 3
- 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1955
LEASED 02/05/21- Rent
- Rent Per SQFT
- $2,600
- $1.83
-
330 W Kirkwall Road Glendora, CA 4
- 3 beds 1 baths ∙ 1,314 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,314 Sqft ∙ Built 1961
LEASED 01/16/21- Rent
- Rent Per SQFT
- $2,600
- $1.98
PROPERTY LISTING DETAILS
Century 21 Marty Rodriguez
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21034387
Last Updated: 02/20/2021
