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918 Herbine Street La Verne, CA 91750

3 Beds 3 Baths 2,324 sqft Built 1977

$859,999

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $370.05
  • 5 Days on Market
  • MLS # : CV21009309
  • Updated Date : 01/23/2021 at 12:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,324 sqft
  • Baths : 3 full
Listing Agent

Century 21 Peak

Listing Agent's Description

This meticulously updated home shines, reflecting the owner’s pride of ownership with detailed and tasteful renovations and upgrades. A rare find with a steel roof and solar panels that are debt free, providing energy savings, while the landscaping requires minimal water usage for additional savings! The kitchen boasts plentiful custom cabinetry with ez-glide pullouts, stainless-steel appliances and recessed lighting. The wood floors give a warm welcome and highlight the beautiful leaded glass double-door entry and elegant staircase railing. The additional great room features a rock fireplace and offers plenty of room to entertain and access the spacious backyard outfitted with entertainment and family fun in mind. Featuring a covered patio, sparkling pool and spa, a built-in BBQ with ample counter space and compact refrigerator, as well as a putting green! A tankless water heater and a low-maintenance yard with beautiful pavers and turf. What more could you ask for than 3 bedrooms, 3 baths, 2 fireplaces, a custom kitchen, family room with built-in wet bar, and a 3 car-garage all located on a cul-de-sac! Close proximity to the 210 and 57 freeways, Bonelli Park, Raging Waters and the University of La Verne with the The Quaint Downtown area. Within walking distance to schools, Truly this is one to view!!

SEE MORE

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: San Dimas

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: San Dimas

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15483697

* 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
 

$773,999$945,999$859,999

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$2,987
Property Tax -$897
Property Insurance -$83
Property Management Fees -$158
CASH FLOW
-$896

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.

$859,999

PROJECTED PRICE

$3,230

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.0%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$233,650

INVESTMENT

$233,650

Down Payment
$215,000
Rehab Estimate
$5,750
Closing Costs
$12,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,987

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $215,000
Loan Amount $644,999
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$4,652

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,230

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $3,381

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,1403$3,1754$3,2005$3,230
$3,230
RENT COMPS ANALYSIS
  • 918 Herbine Street La Verne, CA 5
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $3,230
    • $1.39
    •  
  • 2317 Bonita Avenue La Verne, CA 1
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1988
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.41
    •  
  • 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
    •  
  • 621 N Hatfield Avenue San Dimas, CA 3
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1963
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,175
    • $1.49
    •  
  • 1162 Oak Knoll Ter La Verne, CA 4
    • 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
    •  
PROPERTY LISTING DETAILS
Olivia Devincenzo
Century 21 Peak
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21009309
Last Updated: 01/23/2021
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