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934 S Glendora Avenue Glendora, CA 91740

3 Beds 3 Baths 2,052 sqft Built 1989

$585,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $285.09
  • 7 Days on Market
  • MLS # : CV20248935
  • Updated Date : 12/02/2020 at 17:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,052 sqft
  • Baths : 3 full
Listing Agent

Realty One Group Masters

Listing Agent's Description

Stunning condo in Parkside Glendora..spacious interior living space with beautiful outdoor area with trees and hillside views. Three bedrooms (including one downstairs bedroom and two Master Suite bedrooms upstairs.). Formal living room with brick fireplace is open to the dining room. Oversized kitchen with eating area, Corian countertops, new appliances and a bar area next to the dining room. Entrance from garage directly to kitchen and enclosed patio with sliding glass doors adjacent to the kitchen. The downstairs bedroom has a sliding glass door with access to the back patio and there is a full bathroom downstairs. Upstairs, there is a laundry closet in the hallway and storage cabinets. The first Master suite has a walk in closet, a second closet with sliding doors, glass doors leading to a balcony and an attached, full bath. The second Master suite features a soaking tub in the bathroom and two closets (walk in and additional closet with sliding doors.) Skylights on the second floor add natural daylight throughout the upstairs and entryway. Convenient 2 car attached garage with storage cabinets. The HOA amenities include use of pool, spa, clubhouse, and gated entrance. Located in award winning Glendora school district and walking distance to Downtown Glendora.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Glendora

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Glendora

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16233697

* 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
Stanton Elementary School Primary Regular 571 20 7
Sandburg Middle School Middle Regular 896 34 7
Glendora High School High Regular 2,597 91 9

Stanton Elementary School

  • Education Level: Primary
  • # of students: 571
  • # of teachers: 20
7
GreatSchools Rating

Sandburg Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 34
7
GreatSchools Rating

Glendora High School

  • Education Level: High
  • # of students: 2,597
  • # of teachers: 91
9
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,158
Property Tax -$582
Property Insurance -$77
HOA -$340
Property Management Fees -$134
CASH FLOW
-$561

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.

$585,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,066

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $3,037

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,730
1$2,7302$2,7503$2,8504$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 934 S Glendora Avenue Glendora, CA 1
    • 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $1.33
    •  
  • 146 Martindale Way Glendora, CA 2
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2009
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.57
    •  
  • 1420 S Glendora Avenue Glendora, CA 3
    • 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1977
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.58
    •  
  • 1123 S Westridge Avenue Glendora, CA 4
    • 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2003
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.36
    •  
  • 1341 S Candish Avenue Glendora, CA 5
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1988
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.41
    •  
PROPERTY LISTING DETAILS
Stephanie Villavicencio
Realty One Group Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20248935
Last Updated: 12/02/2020
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