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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $503.10
- 6 Days on Market
- MLS # : CV20260185
- Updated Date : 12/26/2020 at 11:57
CONSTRUCTION
- Beds : 3
- Floor Size : 1,292 sqft
- Baths : 2 full
Listing Agent
Re/max Masters Realty
Listing Agent's Description
Location! Location!Location! This beautiful upgraded SINGLE-STORY home located in a quiet cul-de-sac of West Covina. Pride of ownership!!! It features 3BR and 2BA plus 2 car garage attached. Very cozy floor plan with hardwood flooring throughout. Living room with fireplace and large windows bring the nature light. Upgraded kitchen with granite countertops and stainless appliance. Newer central A/C, all new copper plumbing,Tankless hot water heater, new windows and roof was replaced 4 years ago. Private backyard w/ large alumawood insulated covered patio with 2 attached fans and built-in BBQ. Long concrete driveway for extra parkings. Close to shopping center, restaurants, parks , porto’s bakery cafe, West Covina Mall, schools, parks and easy exit to 10 & 60 freeways. Cal-Poly Pomona and MT. San Antonio College just few minutes away. TURNKEY!
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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: Azusa-Cameron
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Azusa-Cameron
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,430 |
| EXPENSES | Loan Payment | -$2,398 |
| Property Tax | -$658 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$804
|
||
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.
$650,000
PROJECTED PRICE
$2,430
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| 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
$178,000
LOAN DETAILS
$2,398
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $162,500 |
| Loan Amount | $487,500 |
0.67
YEARS SAVED
$2,005
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,430
LIST RENT -
$1.88
LIST RENT PER SQFT
-
$2,148
COMP ESTIMATED VALUE -
$1.66
COMP AVG. RENT PER SQFT
Comps Range
-
642 S Donna Beth Avenue West Covina, CA 1
- 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1955
![property image]()
- Rent
- Rent Per SQFT
- $2,430
- $1.88
-
2148 Cameron Avenue E West Covina, CA 2
- 3 beds 1 baths ∙ 1,609 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,609 Sqft ∙ Built 1963
![property image]()
LEASED 09/23/19- Rent
- Rent Per SQFT
- $2,550
- $1.58
-
1618 E Shamwood Street West Covina, CA 3
- 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1951
![property image]()
LEASED 01/20/20- Rent
- Rent Per SQFT
- $2,550
- $1.62
-
1305 E Larkwood Street West Covina, CA 4
- 4 beds 3 baths ∙ 1,578 Sqft ∙ Built 1951 4 beds 3 baths ∙ 1,578 Sqft ∙ Built 1951
![property image]()
LEASED 11/06/19- Rent
- Rent Per SQFT
- $2,595
- $1.64
-
411 S Cherrywood Street West Covina, CA 5
- 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1953
![property image]()
LEASED 09/06/19- Rent
- Rent Per SQFT
- $2,600
- $1.81
PROPERTY LISTING DETAILS
Re/max Masters Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20260185
Last Updated: 12/26/2020
