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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $401.41
- 3 Days on Market
- MLS # : WS20259626
- Updated Date : 12/18/2020 at 17:38
CONSTRUCTION
- Beds : 3
- Floor Size : 1,557 sqft
- Baths : 2 full
Listing Agent
Milano Realty
Listing Agent's Description
Beautiful single story ranch style home! This charmingly updated home features 3 bedrooms and 2 bathrooms with recessed lighting in the living area and crown molding throughout. There are beautiful hardwood floors throughout the living room and bedrooms and brand new laminate floors in the family room. New Paint throughout. The kitchen features stainless steel appliances. The rear patio features a sparkling jacuzzi that leads out to a spacious backyard with a gazebo and 2 sheds for additional storage. There is ample parking in the driveway leading to a detached 2 car garage. The home is located in an wonderful neighborhood with a prime location, close to the West Covina Mall, Portos, grocery stores, restaurants, civic center and ease of access to the 10 freeway.
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Valinda
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Valinda
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,550 |
| EXPENSES | Loan Payment | -$2,306 |
| Property Tax | -$640 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$125 | |
|
CASH FLOW
-$586
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$625,000
PROJECTED PRICE
$2,550
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 8.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| 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
$171,375
LOAN DETAILS
$2,306
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $156,250 |
| Loan Amount | $468,750 |
1.83
YEARS SAVED
$8,576
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,550
LIST RENT -
$1.64
LIST RENT PER SQFT
-
$2,573
COMP ESTIMATED VALUE -
$1.65
COMP AVG. RENT PER SQFT
Comps Range
-
725 S Carmencita Drive West Covina, CA 2
- 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1953
- Rent
- Rent Per SQFT
- $2,550
- $1.64
-
1120 S Shadydale Avenue West Covina, CA 1
- 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1955
LEASED 10/21/19- Rent
- Rent Per SQFT
- $2,500
- $1.65
-
225 N Broadmoor Avenue West Covina, CA 3
- 3 beds 1 baths ∙ 1,642 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,642 Sqft ∙ Built 1952
LEASED 10/07/19- Rent
- Rent Per SQFT
- $2,700
- $1.64
-
614 E Barbara Avenue West Covina, CA 4
- 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1947
LEASED 08/03/20- Rent
- Rent Per SQFT
- $2,700
- $1.72
-
227 N Hartley Street West Covina, CA 5
- 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1954
LEASED 10/12/19- Rent
- Rent Per SQFT
- $2,750
- $1.60
PROPERTY LISTING DETAILS
Milano Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS20259626
Last Updated: 12/18/2020
