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880 Carmen Court La Verne, CA 91750

4 Beds 1 Baths 2,163 sqft Built 1966

$770,888

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $356.40
  • 2 Days on Market
  • MLS # : PI20252402
  • Updated Date : 12/12/2020 at 13:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,163 sqft
  • Baths : 1 full
Listing Agent

Coastal Connection Real Estate

Listing Agent's Description

LUCKY is how you will feel when you walk into this beautiful single story, mid century ranch home located in the Foxglen community of La Verne. This one owner home boasts a formal living and dining room, family room, large kitchen with plenty of storage,indoor lanai, 4 bedrooms, 1 3/4 bath, situated at the end of a cul-de-sac. Upgrades include, dual pane windows throughout with shutters and 2" blinds, laminate and bamboo flooring in some rooms, newer roof, repiped water system 2020, freshly painted outside 2019. Beautiful outdoor living concept with a covered patio, gazebo, beautiful gardens with roses, orange, lemon and avocado tree, block wall fencing, timed lighting, automatic sprinkler system within a .24 acre property. Plenty of room for a pool or an ADU. Location. location, location, this home is just minutes from the freeway, shopping centers, restaurants, San Dimas Canyon Park, horse trails and boarding and the San Dimas Golf Course. The City of La Verne offers a highly rated school system, La Verne College, holiday celebrations ranging from 4th of July Parades to the firetruck Santa visits on Christmas morning..How does it get better than this?

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MARKET HIGHLIGHTS

  • 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)
  • 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: Foxglen

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Foxglen

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16243697

* 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
Allen Avenue Elementary School Primary Regular 484 23 8
Ramona Middle School Middle Regular 1,406 51 9
Bonita High School High Regular 1,968 74 9

Allen Avenue Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 23
8
GreatSchools Rating

Ramona Middle School

  • Education Level: Middle
  • # of students: 1,406
  • # of teachers: 51
9
GreatSchools Rating

Bonita High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 74
9
GreatSchools Rating
 

$693,799$847,977$770,888

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,844
Property Tax -$758
Property Insurance -$79
Property Management Fees -$157
CASH FLOW
-$639

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.

$770,888

PROJECTED PRICE

$3,200

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.5%
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$20k

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$210,035

INVESTMENT

$210,035

Down Payment
$192,722
Rehab Estimate
$5,750
Closing Costs
$11,563

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $192,722
Loan Amount $578,166
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$15,337

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $3,217

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$3,1403$3,2004$3,2005$3,700
$3,700
RENT COMPS ANALYSIS
  • 880 Carmen Court La Verne, CA 4
    • 4 beds 1 baths ∙ 2,163 Sqft ∙ Built 1966 4 beds 1 baths ∙ 2,163 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.48
    •  
  • 1821 Hawkbrook Drive San Dimas, CA 1
    • 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1964
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.31
    •  
  • 4706 Bunnelle Ave La Verne, CA 2
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1976
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $1.48
    •  
  • 1162 Oak Knoll Ter La Verne, CA 3
    • 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 1973
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.44
    •  
  • 4725 Hale Avenue La Verne, CA 5
    • 5 beds 2 baths ∙ 2,152 Sqft ∙ Built 1969 5 beds 2 baths ∙ 2,152 Sqft ∙ Built 1969
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.72
    •  
PROPERTY LISTING DETAILS
Rebecca Greto
Coastal Connection Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PI20252402
Last Updated: 12/12/2020
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