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718 S Valinda Avenue West Covina, CA 91790

3 Beds 2 Baths 1,325 sqft Built 1952

$579,888

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $437.65
  • 7 Days on Market
  • MLS # : DW21036427
  • Updated Date : 02/25/2021 at 17:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,325 sqft
  • Baths : 2 full
Listing Agent

Remax Masters

Listing Agent's Description

Great West-facing West Covina Home (Front Door Faces South) on a terrific family-oriented street with established homeowners and great schools [Greatschools Rating of 7 to 9]. This fantastic home has 3 spacious beds all with ceiling fans, 2 baths, large living room with fireplace, and cozy dining room. The galley kitchen is appointed with ceramic-tiled countertops and tons of pantry space. The interior maintains hardwood floors in the living, dining, hallway, and in all bedrooms, and ceramic/porcelain tiled floors in the kitchen and bathrooms. The family-room is spacious and has beamed ceilings. The outside offers well-manicured front and back yards along with shade trees and flowers. Lounge around in the expansive backyard . . . all in a fantastic part of the City of West Covina. This home is conveniently located - - just walking distance to parks, schools, major shopping centers (only about a couple of miles away from the DMV, New Porto's Bakery, Plaza West Covina Mall, Hong Kong Supermarket, Post Office, and City Hall). This property just has too much to list . . . A terrific home . . . and in a great area to raise a family!!! Don't wait, before it's too late!!! *** All information should be deemed reliable but not guaranteed, Buyer to verify all information offered (e.g., sq.ft., room count, & any and all other features) ***

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Azusa-Cameron

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $184k856k

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

Neighborhood: Azusa-Cameron

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15053697

* 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
Cameron Elementary School Primary Regular 481 20 5
Edgewood Middle School Middle Regular 593 24 4
Edgewood High School High Regular 831 33 7

Cameron Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 20
5
GreatSchools Rating

Edgewood Middle School

  • Education Level: Middle
  • # of students: 593
  • # of teachers: 24
4
GreatSchools Rating

Edgewood High School

  • Education Level: High
  • # of students: 831
  • # of teachers: 33
7
GreatSchools Rating
 

$521,899$637,877$579,888

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,014
Property Tax -$594
Property Insurance -$65
Property Management Fees -$124
CASH FLOW
-$257

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.

$579,888

PROJECTED PRICE

$2,540

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$159,420

INVESTMENT

$159,420

Down Payment
$144,972
Rehab Estimate
$5,750
Closing Costs
$8,698

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,014

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,972
Loan Amount $434,916
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$21,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $2,596

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5403$2,6004$2,8005$2,900
$2,900
RENT COMPS ANALYSIS
  • 718 S Valinda Avenue West Covina, CA 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.64
    •  
  • 1127 E Larkwood Street West Covina, CA 1
    • 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 1952 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 1952
    LEASED 02/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.56
    •  
  • 1037 S Valinda Avenue West Covina, CA 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1951
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.73
    •  
  • 225 N Broadmoor Avenue West Covina, CA 4
    • 3 beds 1 baths ∙ 1,622 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,622 Sqft ∙ Built 1952
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.73
    •  
  • 1110 S Susanna Avenue West Covina, CA 5
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1955
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.68
    •  
PROPERTY LISTING DETAILS
Alexander Romero
Remax Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21036427
Last Updated: 02/25/2021
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