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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $241.30
- 6 Days on Market
- MLS # : CV20246505
- Updated Date : 11/27/2020 at 13:55
CONSTRUCTION
- Beds : 3
- Floor Size : 2,300 sqft
- Baths : 2 full , 1 half
Listing Agent
6550 Realty Group
Listing Agent's Description
Incredibly gorgeous, newly updated home located on a quiet, tree-lined street. The home features a new kitchen and appliances, a nook or dining area are off of the kitchen, and has quartz counter tops. The home has natural light throughout, and features a stunning wall to wall windows that lead to the backyard which is secluded and has producing grapefruit and lemon trees, along with two sheds. The roof was done within 10 years. Separate laundry area. New toilets and sinks in the bathrooms. One of the best features of the home is the bar/man-cave/game room or wine cellar-(however, seller will convert back into a 3rd bedroom). The room has original wood floors, suede wall paper, built-in grand bar, original 50's wine cellar, large custom stained glass window, beautiful brass gates leading into wine cellar and bar. Just outside the bar/man-cave is an original, working barbecue grill with its own damper and chimney flue--works beautifully with wood chips or charcoal bricks (this feature is a constant source of conversation). More original features: Crown molding in the living room, both fireplaces were kept original with marble and original mantle. Indoor brass doorbell charm, vents and some lighting, both bathrooms have original bathroom vanity sitting areas, master bedroom has original custom built closets and shoe closets, master bathroom has been updated while keeping the vintage charm! There really are very few "must see" homes--this home however is absolutely a must see!
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MARKET HIGHLIGHTS
- 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]
- 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)
- As part of Southern California area, Inland Empire market inherits all the benefits from the area.
- 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)
- 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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: Magnolia Center
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Magnolia Center
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $2,360 |
EXPENSES | Loan Payment | -$2,048 |
Property Tax | -$537 | |
Property Insurance | -$83 | |
Property Management Fees | -$139 | |
CASH FLOW
-$447
|
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.
$555,000
PROJECTED PRICE
$2,360
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 3.96% |
Appreciation Year (1-5) | 11.7% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 5.43% |
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
$152,825
LOAN DETAILS
$2,048
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $138,750 |
Loan Amount | $416,250 |
1.92
YEARS SAVED
$8,112
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,360
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$2,576
COMP ESTIMATED VALUE -
$1.12
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
6550 Realty Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20246505
Last Updated: 11/27/2020