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PROPERTY INFO
FACTS
- Single Family
- Built In 1952
- Price/Sqft : $337.05
- 3 Days on Market
- MLS # : CV21019818
- Updated Date : 01/30/2021 at 12:09
CONSTRUCTION
- Beds : 3
- Floor Size : 1,649 sqft
- Baths : 2 full
Listing Agent
Kw Vision
Listing Agent's Description
This home is located on a large lot on a beautiful street. Home has great potential with some TLC. Home is being sold AS-IS and personal property remains. Home offers a spacious kitchen, dining area, closed in patio, and extra laundry room adding additional room in the back of home. Property is a Probate Listing Subject to Court Confirmation with hearing set for March.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Valinda
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,440 |
| EXPENSES | Loan Payment | -$1,931 |
| Property Tax | -$569 | |
| Property Insurance | -$67 | |
| Property Management Fees | -$120 | |
|
CASH FLOW
-$246
|
||
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.
$555,800
PROJECTED PRICE
$2,440
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$153,037
LOAN DETAILS
$1,931
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $138,950 |
| Loan Amount | $416,850 |
4
YEARS SAVED
$20,694
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,440
LIST RENT -
$1.48
LIST RENT PER SQFT
-
$2,622
COMP ESTIMATED VALUE -
$1.59
COMP AVG. RENT PER SQFT
Comps Range
-
908 E Florence Avenue West Covina, CA 2
- 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1952
![property image]()
- Rent
- Rent Per SQFT
- $2,440
- $1.48
-
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
![property image]()
LEASED 05/10/20- Rent
- Rent Per SQFT
- $2,400
- $1.43
-
1127 E Larkwood Street West Covina, CA 3
- 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 1952 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 1952
![property image]()
LEASED 01/28/21- Rent
- Rent Per SQFT
- $2,500
- $1.56
-
1422 E Herring Avenue West Covina, CA 4
- 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 1955
![property image]()
LEASED 09/09/20- Rent
- Rent Per SQFT
- $2,800
- $1.69
-
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
![property image]()
LEASED 07/29/20- Rent
- Rent Per SQFT
- $2,900
- $1.68
PROPERTY LISTING DETAILS
Kw Vision
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21019818
Last Updated: 01/30/2021
