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635 Harmsworth Ave Avenue La Puente, CA 91744

4 Beds 2 Baths 1,158 sqft Built 1954

$525,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $453.37
  • 3 Days on Market
  • MLS # : CV21000949
  • Updated Date : 01/22/2021 at 21:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,158 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Covina

Listing Agent's Description

This single family home with 4 bedrooms and 2 bathrooms is the pride of the block. Features include a 2018 newer roof, new carpet and flooring, new paint inside and out, new lighting, new HVAC ductless unit with remote control and a mobile app feature, double car garage with plenty of driveway parking. There’s also large private, shady backyard for those warm summers to enjoy being outside and BBQ. The yard also features a mature lemon and avocado tree which produce every year. Located on a Cul-De-Sac and quiet neighborhood in the shadow of Industry Hills Golf Club at Pacific Palms Resort, it is also minutes from Puente Hills Mall, which features incredible shopping and restaurants. This home isn’t going to last — schedule your showing before it’s gone! *All information is compiled from data we believe are reliable, and while we do not doubt its accuracy, we make no representations, guarantees or warranties. Buyer to verify all information. Please follow all PEAD guidelines

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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: La Puente

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $141k622k

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

Neighborhood: La Puente

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13152941

* 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
Hurley Elementary School Primary Regular 623 26 5
Hurley Elementary School Middle Regular 623 26 5
Nogales High School High Regular 1,959 84 5

Hurley Elementary School

  • Education Level: Primary
  • # of students: 623
  • # of teachers: 26
5
GreatSchools Rating

Hurley Elementary School

  • Education Level: Middle
  • # of students: 623
  • # of teachers: 26
5
GreatSchools Rating

Nogales High School

  • Education Level: High
  • # of students: 1,959
  • # of teachers: 84
5
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,824
Property Tax -$565
Property Insurance -$55
Property Management Fees -$109
CASH FLOW
-$332

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.

$525,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$12,458

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $2,171

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,2503$2,4004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 635 Harmsworth Ave Avenue La Puente, CA 1
    • 4 beds 2 baths ∙ 1,158 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,158 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.92
    •  
  • 16409 Main Street La Puente, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.88
    •  
  • 16365 Main Street La Puente, CA 3
    • 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1973
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.87
    •  
  • 2141 Elderway Drive Hacienda Heights, CA 4
    • 3 beds 1 baths ∙ 1,405 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,405 Sqft ∙ Built 1972
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.85
    •  
  • 1737 Manor Gate Road Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1968
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.90
    •  
PROPERTY LISTING DETAILS
Baldwin Lopez
Keller Williams Covina
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21000949
Last Updated: 01/22/2021
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