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613 N Stephora Avenue Covina, CA 91724

4 Beds 2 Baths 1,814 sqft Built 1957

$739,900

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
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!

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: 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
Badillo Elementary School Primary Regular 467 21 6
Badillo Elementary School Middle Regular 467 21 6
Charter Oak High School High Regular 1,735 61 6

Badillo Elementary School

  • Education Level: Primary
  • # of students: 467
  • # of teachers: 21
6
GreatSchools Rating

Badillo Elementary School

  • Education Level: Middle
  • # of students: 467
  • # of teachers: 21
6
GreatSchools Rating

Charter Oak High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 61
6
GreatSchools Rating
 

$665,910$813,890$739,900

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

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

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,824

INVESTMENT

$201,824

Down Payment
$184,975
Rehab Estimate
$5,750
Closing Costs
$11,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,570

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,975
Loan Amount $554,925
See What Happens When You Reinvest Cash Flow

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
$2,500
1$2,5002$2,6003$2,8004$2,8005$2,995
$2,995
RENT COMPS ANALYSIS
  • 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
Adam Lindholm
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21034425
Last Updated: 02/18/2021
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