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636 E Cienega Avenue Covina, CA 91722

3 Beds 2 Baths 1,394 sqft Built 1950

$534,900

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 25, 2020 RECENTLY ADDED
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!

SEE MORE

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

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
Ben Lomond Elementary School Primary Regular 467 17 5
Sierra Vista Middle School Middle Regular 888 36 5
South Hills High School High Regular 1,835 71 7

Ben Lomond Elementary School

  • Education Level: Primary
  • # of students: 467
  • # of teachers: 17
5
GreatSchools Rating

Sierra Vista Middle School

  • Education Level: Middle
  • # of students: 888
  • # of teachers: 36
5
GreatSchools Rating

South Hills High School

  • Education Level: High
  • # of students: 1,835
  • # of teachers: 71
7
GreatSchools Rating
 

$481,410$588,390$534,900

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

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

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$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$20k

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$147,499

INVESTMENT

$147,499

Down Payment
$133,725
Rehab Estimate
$5,750
Closing Costs
$8,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,725
Loan Amount $401,175
See What Happens When You Reinvest Cash Flow

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
$2,380
1$2,3802$2,4603$2,5004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 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
Alan Ramirez
Ehomes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20262545
Last Updated: 12/25/2020
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