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746 N La Breda Avenue West Covina, CA 91791

3 Beds 2 Baths 1,597 sqft Built 1957

$650,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $407.01
  • 7 Days on Market
  • MLS # : CV21026474
  • Updated Date : 02/12/2021 at 22:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,597 sqft
  • Baths : 2 full
Listing Agent

Century 21 Citrus Realty Inc

Listing Agent's Description

Gorgeous 3 bed 2 bath West Covina home. Remodeled kitchen with granite counter tops and new lighting. New flooring, Fireplace, separate family room and living room. Individual laundry room. Large yard with open patio with mountain view. Equipped with Cooper plumbing and Solar Panels. This home has great location to shops, restaurants, schools and freeway access and much more.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14672941

* 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
Workman Avenue Elementary School Primary Regular 522 21 7
Traweek Middle School Middle Regular 849 33 5
Covina High School High Regular 1,337 52 6

Workman Avenue Elementary School

  • Education Level: Primary
  • # of students: 522
  • # of teachers: 21
7
GreatSchools Rating

Traweek Middle School

  • Education Level: Middle
  • # of students: 849
  • # of teachers: 33
5
GreatSchools Rating

Covina High School

  • Education Level: High
  • # of students: 1,337
  • # of teachers: 52
6
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,258
Property Tax -$685
Property Insurance -$66
Property Management Fees -$130
CASH FLOW
-$479

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.

$650,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$11,621

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $2,819

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,6604$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 746 N La Breda Avenue West Covina, CA 3
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.67
    •  
  • 578 N Houser Covina, CA 1
    • 3 beds 1 baths ∙ 1,609 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,609 Sqft ∙ Built 1957
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.62
    •  
  • 759 S Fircroft Avenue Covina, CA 2
    • 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1955
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.84
    •  
  • 308 S Armel Drive Covina, CA 4
    • 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1954 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1954
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.73
    •  
  • 1950 E Workman Avenue West Covina, CA 5
    • 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1955
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.87
    •  
PROPERTY LISTING DETAILS
Aaron Rivas
Century 21 Citrus Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21026474
Last Updated: 02/12/2021
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