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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $477.50
- 95 Days on Market
- MLS # : PW20211931
- Updated Date : 11/12/2020 at 05:08
CONSTRUCTION
- Beds : 3
- Floor Size : 2,000 sqft
- Baths : 2 full
Listing Agent
Reliance Real Estate Services
Listing Agent's Description
Welcome to this newly renovated, turnkey single level home located in the foothills of North La Verne. This stunning home has a long list of high-end appliances and impeccable upgrades throughout. As you walk through the custom screen door and through the foyer you are greeted by cathedral ceilings in the formal living room which is open to the dining room and the breathtaking chef’s kitchen. The kitchen offers stainless GE Monogram appliances including a six-burner oven, dishwasher and convection microwave. Atop the Koville shaker cabinets lays a Blanco Cerana farmhouse sink and beautiful white Macaubus Quartzite countertops, also new custom shelving and range hood. Entertain on the oversized island which is central to the family, dining and living rooms. As you walk down the hallway you will find two bedrooms with a common restroom and a master suite also with high vaulted ceilings. Plantation shutters are seen throughout the home along with French doors that open to the rear and side patio entertaining areas. Formal list of all updates available for review during showings. Relax outside and enjoy the breeze through the trees in your own private hillside backyard. If you have been looking for a home with true quality upgrades and RV Parking look no further. This is a real turn-key home that is ready for you to move right in. With peace and serenity in mind, this home does not disappoint. Come tour the home for yourself and enjoy this peaceful lifestyle.
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: North la Verne
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North la Verne
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,150 |
| EXPENSES | Loan Payment | -$3,317 |
| Property Tax | -$949 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$154 | |
|
CASH FLOW
-$1,346
|
||
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.
$955,000
PROJECTED PRICE
$3,150
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 4.3% |
| 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
$258,825
LOAN DETAILS
$3,317
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $238,750 |
| Loan Amount | $716,250 |
0.25
YEARS SAVED
$276
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,150
LIST RENT -
$1.58
LIST RENT PER SQFT
-
$3,215
COMP ESTIMATED VALUE -
$1.61
COMP AVG. RENT PER SQFT
Comps Range
-
6734 Calmbank La Verne, CA 4
- 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1979
![property image]()
- Rent
- Rent Per SQFT
- $3,150
- $1.58
-
1860 Olivewood Street La Verne, CA 1
- 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1975
![property image]()
LEASED 07/02/19- Rent
- Rent Per SQFT
- $2,900
- $1.64
-
2432 Hummingbird Way La Verne, CA 2
- 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1989
![property image]()
LEASED 10/21/19- Rent
- Rent Per SQFT
- $3,100
- $1.59
-
6043 Birdie Drive La Verne, CA 3
- 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1986
![property image]()
LEASED 06/29/20- Rent
- Rent Per SQFT
- $3,100
- $1.59
-
1806 Orangewood Street La Verne, CA 5
- 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1985
![property image]()
LEASED 08/16/20- Rent
- Rent Per SQFT
- $3,525
- $1.61
PROPERTY LISTING DETAILS
Reliance Real Estate Services
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20211931
Last Updated: 11/12/2020
