Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

784 Rancho El Fuerte Drive Covina, CA 91724

4 Beds 3 Baths 2,197 sqft Built 1974

$899,990

List Price

$3,430

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $409.64
  • 4 Days on Market
  • MLS # : IG20264929
  • Updated Date : 01/14/2021 at 18:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,197 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Legacy Real Estate

Listing Agent's Description

This is a beautiful custom built home featuring tons of character throughout. It sits on a large 11,148 sq ft. lot. Located off of Covina Hills Road in the middle of a lovely quiet cul-de-sac. The first thing you will notice when driving up is the beveled stained glass windows. Beautiful marble entryway flooring, beams, custom woodwork, and stained glass windows throughout. This home is 4 bedrooms, 2.5 bathrooms, and has a huge bonus room off of the main living space (not included in the house square footage). The master suite has a custom bathroom with a large jacuzzi tub, separate his and her sinks, and a walk-in closet. Brand new carpet in bedrooms and hallway. Open floor plan, family room with fireplace, and living room with a gorgeous Christmas tree window. Solar panels (buyer to assume solar lease), Ring doorbell/floodlight camera system around premises, and RV parking behind gate. This is the perfect home for entertaining with a great outdoor space, huge pool with spa and it snugs up to Covina Hills which provides lots of privacy. Delicious citrus fruit trees and berries for your yearly enjoyment. Very close to all major shipping, hiking trails, parks & freeways. Located within the highly-rated Covina-Valley Unified School District. Call for your private showing today!

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: Covina

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $187k622k

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

Neighborhood: Covina

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14182941

* 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
Badillo Elementary School Primary Regular 467 21 6
Badillo Elementary School Middle Regular 467 21 6
Charter Oak High School High Regular 1,735 61 6

Badillo Elementary School

  • Education Level: Primary
  • # of students: 467
  • # of teachers: 21
6
GreatSchools Rating

Badillo Elementary School

  • Education Level: Middle
  • # of students: 467
  • # of teachers: 21
6
GreatSchools Rating

Charter Oak High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 61
6
GreatSchools Rating
 

$809,991$989,989$899,990

PURCHASE PRICE

$3,087$3,773$3,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,430
EXPENSES Loan Payment -$3,126
Property Tax -$935
Property Insurance -$80
Property Management Fees -$168
CASH FLOW
-$879

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.

$899,990

PROJECTED PRICE

$3,430

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.2%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,247

INVESTMENT

$244,247

Down Payment
$224,998
Rehab Estimate
$5,750
Closing Costs
$13,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,126

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,998
Loan Amount $674,993
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,430

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $3,383

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$3,1004$3,1505$3,430
$3,430
RENT COMPS ANALYSIS
  • 784 Rancho El Fuerte Drive Covina, CA 5
    • 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,430
    • $1.56
    •  
  • 1461 E Wanamaker Drive Covina, CA 1
    • 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1972
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.40
    •  
  • 659 N Garsden Avenue Covina, CA 2
    • 4 beds 1 baths ∙ 1,866 Sqft ∙ Built 1957 4 beds 1 baths ∙ 1,866 Sqft ∙ Built 1957
    property image
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.55
    •  
  • 1642 Via Alegre San Dimas, CA 3
    • 4 beds 2 baths ∙ 1,875 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,875 Sqft ∙ Built 1968
    property image
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.65
    •  
  • 1309 Paseo Valle Covina, CA 4
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1975
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.56
    •  
PROPERTY LISTING DETAILS
Michael Vernice
Re/max Legacy Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20264929
Last Updated: 01/14/2021
BESbswy