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902 La Rue Avenue La Verne, CA 91750

3 Beds 2 Baths 1,556 sqft Built 1964

$639,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $410.67
  • 2 Days on Market
  • MLS # : CV21030535
  • Updated Date : 02/13/2021 at 12:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,556 sqft
  • Baths : 2 full
Listing Agent

Re/max Innovations

Listing Agent's Description

3 Bedroom, 1 3/4 bathroom home on a large corner lot with a view of the foothills from the front of the house. Spacious living room with a cozy fireplace and a picture window. Sunny dining room is adjacent to the kitchen with a sliding door that leads to a large rear yard with a covered patio. The yard is nicely landscaped with flowers and citrus trees and surrounded by block walls. There is a convenient downstairs bedroom next to the 3/4 bathroom. beautiful wood vinyl flooring downstairs and carpet upstairs. Upstairs are 2 bedrooms and a bathroom with tub and shower. One of the bedrooms was originally a 2 bedroom and was nicely converted to a single bedroom by the previous owners. This house has many upgrades including a newer roof, fresh exterior painting 2019, New A/C, Furnace and Water Heater installed in late 2020, solar powered attic fans and dual pane vinyl windows and sliding glass door. There is an attached 2 car garage with a door that leads to the entry.

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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: 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
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,219
Property Tax -$629
Property Insurance -$65
Property Management Fees -$141
CASH FLOW
-$183

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.

$639,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.45%

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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,219

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$32,242

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $1.84

    LIST RENT PER SQFT
  • $3,042

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,8503$2,8704$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 902 La Rue Avenue La Verne, CA 3
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $1.84
    •  
  • 742 N Walnut Avenue San Dimas, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1948
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.79
    •  
  • 1201 Danton Street La Verne, CA 2
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1972
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.03
    •  
  • 1316 Danton Street La Verne, CA 4
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1972
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.94
    •  
  • 4604 Romola Avenue La Verne, CA 5
    • 4 beds 2 baths ∙ 1,458 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,458 Sqft ∙ Built 1964
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.06
    •  
PROPERTY LISTING DETAILS
Cindy Saldias
Re/max Innovations
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21030535
Last Updated: 02/13/2021
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