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734 S Lope Lane Glendora, CA 91740

3 Beds 1 Baths 1,423 sqft Built 1962

$674,900

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $474.28
  • 2 Days on Market
  • MLS # : CV21148855
  • Updated Date : 07/12/2021 at 11:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,423 sqft
  • Baths : 1 full
Listing Agent

Century 21 King

Listing Agent's Description

Welcome Home! You will love this wonderful Mid-Century single story home located in a charming Glendora neighborhood. Attractive brick walkway leads to a custom entry door. Step into the living room with wood laminate flooring and a breathtaking view of Lone Hill from the picture window. The kitchen has been updated with Corian counter tops, new porcelain tile flooring and an abundance of wood cabinetry and adjoins the dining area. There is a cozy family room with beautiful wood beam ceilings and complimented with an inviting arched brick wood burning fireplace and French doors leading to the rear yard. There are 3 bedrooms, all with wood laminate flooring. The two bathrooms have been updated with porcelain tile flooring and vanities with Corian tops. You'll appreciate the indoor laundry area too! The home has many upgrades including a new central heating & A/C system AND all new duct work, high quality Milgard dual glazed windows throughout, new high efficiency 40 gallon water heater, an upgraded electrical panel, and the roof is a highly rated composite shingle roof. Step outside to the rear yard with a lush grassy area, a two car detached garage and lots of space for additional parking. Both front and rear yards are fully landscaped complete with sprinklers. Come and take a look at this lovely home located in the award winning Glendora School District and centrally located to shopping, freeways and the Metrolink.

SEE MORE

MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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)
  • 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)
  • 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: Glendora

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Glendora

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16233697

* 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
Sutherland Elementary School Primary Regular 575 21 8
Goddard Middle School Middle Regular 915 35 8
Glendora High School High Regular 2,597 91 9

Sutherland Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 21
8
GreatSchools Rating

Goddard Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 35
8
GreatSchools Rating

Glendora High School

  • Education Level: High
  • # of students: 2,597
  • # of teachers: 91
9
GreatSchools Rating
 

$607,410$742,390$674,900

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$2,344
Property Tax -$714
Property Insurance -$62
Property Management Fees -$133
CASH FLOW
-$542

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.

$674,900

PROJECTED PRICE

$2,710

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,599

INVESTMENT

$184,599

Down Payment
$168,725
Rehab Estimate
$5,750
Closing Costs
$10,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,344

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,725
Loan Amount $506,175
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $2,743

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,6003$2,7004$2,7105$2,750
$2,750
RENT COMPS ANALYSIS
  • 734 S Lope Lane Glendora, CA 4
    • 3 beds 1 baths ∙ 1,423 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,423 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.90
    •  
  • 308 S Loraine Avenue Glendora, CA 1
    • 4 beds 1 baths ∙ 1,222 Sqft ∙ Built 1954 4 beds 1 baths ∙ 1,222 Sqft ∙ Built 1954
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.92
    •  
  • 845 Glengrove Avenue Glendora, CA 2
    • 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1956
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.96
    •  
  • 2127 E Linfield Street Glendora, CA 3
    • 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1962
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.89
    •  
  • 239 W. Woodland Oaks Dr. San Dimas, CA 5
    • 3 beds 1 baths ∙ 1,416 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,416 Sqft ∙ Built 1954
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.94
    •  
PROPERTY LISTING DETAILS
Sharon Eagan
Century 21 King
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21148855
Last Updated: 07/12/2021
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