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PROPERTY INFO
FACTS
- Single Family
- Built In 1950
- Price/Sqft : $383.72
- 4 Days on Market
- MLS # : CV20262545
- Updated Date : 12/25/2020 at 13:33
CONSTRUCTION
- Beds : 3
- Floor Size : 1,394 sqft
- Baths : 2 full
Listing Agent
Ehomes
Listing Agent's Description
Welcome to 636 E Cienega in Covina Don't miss this well kept home with award winning South Hills schools. This home offers great great curb appeal it has a nice wide concrete driveway that leads to the 2 car garage and RV parking. Once inside you will find 3 nice size bedrooms, and a cozy kitchen with its own laundry area. Once out in the backyard there is a wonderful sized patio great for entertaining. with addition covered patio that connects back to the den. This fantastic home offers the potential to make it your own. Schedule an appointment today!
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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: 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 | $2,460 |
| EXPENSES | Loan Payment | -$1,974 |
| Property Tax | -$580 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$121 | |
|
CASH FLOW
-$275
|
||
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.
$534,900
PROJECTED PRICE
$2,460
PROJECTED RENT
0.46%
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
$147,499
LOAN DETAILS
$1,974
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $133,725 |
| Loan Amount | $401,175 |
3.75
YEARS SAVED
$22,223
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,460
LIST RENT -
$1.76
LIST RENT PER SQFT
-
$2,509
COMP ESTIMATED VALUE -
$1.8
COMP AVG. RENT PER SQFT
Comps Range
-
636 E Cienega Avenue Covina, CA 2
- 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1950
- Rent
- Rent Per SQFT
- $2,460
- $1.76
-
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
Ehomes
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20262545
Last Updated: 12/25/2020
