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PROPERTY INFO
FACTS
- Single Family
- Built In 1957
- Price/Sqft : $407.88
- 4 Days on Market
- MLS # : PW21034425
- Updated Date : 02/18/2021 at 16:06
CONSTRUCTION
- Beds : 4
- Floor Size : 1,814 sqft
- Baths : 2 full
Listing Agent
Century 21 Masters
Listing Agent's Description
3D Tour available!!! Click the "VT Camera" link above to view. Another beautiful rehab completed by the star of HGTV's Flip or Flop. No expense was spared on the transformation of this43 bedroom, 2 bath home. The home is pristine and the many designer touches are highlighted by all the natural light. Whether you have a growing family or love to entertain, this home is perfect! The distressed wood laminate flooring throughout the home is not only beautiful, but it is easily maintained. The open kitchen has been completely redone with all new shaker cabinets, beautiful Quartz counter tops, a stunning tile backsplash a large island with seating, and stainless steel appliances. There are 2 bedrooms and 1 bath upstairs and 2 bedrooms and 1 bath downstairs, making this home perfect for multi generational living! Both bathrooms have new vanities, stainless fixtures, quartz counter tops and a custom tiled showers. All 4 bedrooms are good sized bedrooms with ample closet space. In the rear of the home there is a large secondary living area with a cozy fireplace. The backyard features a newly landscaped grass area, and a new concrete covered patio! All of this AND a brand new 200 amp electrical panel and new AC unit! Show your most discerning buyers this home, they are sure to fall in love!
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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: Covina
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Covina
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,600 |
| EXPENSES | Loan Payment | -$2,570 |
| Property Tax | -$764 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
-$932
|
||
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.
$739,900
PROJECTED PRICE
$2,600
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$201,824
LOAN DETAILS
$2,570
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $184,975 |
| Loan Amount | $554,925 |
0.42
YEARS SAVED
$868
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,600
LIST RENT -
$1.43
LIST RENT PER SQFT
-
$2,676
COMP ESTIMATED VALUE -
$1.48
COMP AVG. RENT PER SQFT
Comps Range
-
613 N Stephora Avenue Covina, CA 2
- 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1957
- Rent
- Rent Per SQFT
- $2,600
- $1.43
-
1688 E Palm Drive Covina, CA 1
- 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1962
LEASED 11/04/20- Rent
- Rent Per SQFT
- $2,500
- $1.35
-
1461 E Wanamaker Drive Covina, CA 3
- 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1972
LEASED 08/14/20- Rent
- Rent Per SQFT
- $2,800
- $1.40
-
1809 E Sachs Place Covina, CA 4
- 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1957
LEASED 01/27/20- Rent
- Rent Per SQFT
- $2,800
- $1.57
-
210 N Rimhurst Avenue Covina, CA 5
- 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1972
LEASED 10/27/20- Rent
- Rent Per SQFT
- $2,995
- $1.58
PROPERTY LISTING DETAILS
Century 21 Masters
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21034425
Last Updated: 02/18/2021
