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744 E Francisquito Avenue West Covina, CA 91790

3 Beds 2 Baths 1,720 sqft Built 1971

$720,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $418.60
  • 5 Days on Market
  • MLS # : CV21060842
  • Updated Date : 03/24/2021 at 05:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

6550 Realty Group

Listing Agent's Description

Prideful ownership! This home features 3 bedrooms and 2 baths in addition to an attached 2-car garage with RV parking space on the side of the house! Upon entry, you’ll find an open floor concept with the family room open to the kitchen. The kitchen has very spacious countertops which are a must for any family chef! This home is perfect for gatherings with friends and family — the backyard includes an added game room and bar countertop. Gameroom includes 1/2 bath. Built in BBQ with custom steel palapa and Pizza oven. Backyard also includes a custom 10’ fire pit with surround seating for your family friendly gatherings. This home is situated in a great established neighborhood. Close to shopping centers, freeway entrances, and pet friendly parks. This home won’t last long on the market for long, come see it before it’s too late!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Valinda

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: Valinda

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13962941

* 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
Merlinda Elementary School Primary Regular 580 24 8
Merlinda Elementary School Middle Regular 580 24 8
Edgewood High School High Regular 831 33 7

Merlinda Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 24
8
GreatSchools Rating

Merlinda Elementary School

  • Education Level: Middle
  • # of students: 580
  • # of teachers: 24
8
GreatSchools Rating

Edgewood High School

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

$648,000$792,000$720,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,501
Property Tax -$723
Property Insurance -$69
Property Management Fees -$122
CASH FLOW
-$934

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.

$720,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$196,550

INVESTMENT

$196,550

Down Payment
$180,000
Rehab Estimate
$5,750
Closing Costs
$10,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,501

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $180,000
Loan Amount $540,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $2,705

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,4804$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 744 E Francisquito Avenue West Covina, CA 3
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.44
    •  
  • 840 E Florence Avenue West Covina, CA 1
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1953
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.43
    •  
  • 1424 S Pricedale Avenue West Covina, CA 2
    • 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 1960
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.55
    •  
  • 1201 Tina Lane West Covina, CA 4
    • 3 beds 3 baths ∙ 1,753 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,753 Sqft ∙ Built 1982
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.63
    •  
  • 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
Anthony Tavera
6550 Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21060842
Last Updated: 03/24/2021
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