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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $426.80
- 4 Days on Market
- MLS # : WS21034679
- Updated Date : 02/19/2021 at 18:22
CONSTRUCTION
- Beds : 3
- Floor Size : 1,448 sqft
- Baths : 2 full , 1 half
Listing Agent
East West Realty, Inc.
Listing Agent's Description
This is a well-kept, charming corner lot, 3 Bed and 2.5 bath starter family home with bright and natural lighting. Patio is great for entertaining and quality time with calamansi fruit tree. Exterior has beautiful tile roof, attached 2- car garage in desirable West Covina location with 5-minute access to West Covina Mall, parks, and convenient freeway access. The home is nested in a gated community for privacy with newer updates in kitchen and bedrooms, with community access to pool. The home features a master bedroom suite with walk-in closet, double sink vanity. Living room features fireplace with gas valve, high sloped ceilings and ceramic entryway.
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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)
- 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]
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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 | $2,370 |
| EXPENSES | Loan Payment | -$2,147 |
| Property Tax | -$633 | |
| Property Insurance | -$62 | |
| HOA | -$170 | |
| Property Management Fees | -$116 | |
|
CASH FLOW
-$758
|
||
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.
$618,000
PROJECTED PRICE
$2,370
PROJECTED RENT
0.38%
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
$169,520
LOAN DETAILS
$2,147
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $154,500 |
| Loan Amount | $463,500 |
0.42
YEARS SAVED
$968
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,370
LIST RENT -
$1.64
LIST RENT PER SQFT
-
$2,378
COMP ESTIMATED VALUE -
$1.64
COMP AVG. RENT PER SQFT
Comps Range
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939 W Sago Palm Street West Covina, CA 3
- 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 1993
![property image]()
- Rent
- Rent Per SQFT
- $2,370
- $1.64
-
1322 E Fairgrove Avenue West Covina, CA 1
- 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1973
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LEASED 01/01/20- Rent
- Rent Per SQFT
- $2,050
- $1.64
-
1811 Seattle Street West Covina, CA 2
- 3 beds 3 baths ∙ 1,195 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,195 Sqft ∙ Built 1980
![property image]()
LEASED 09/28/20- Rent
- Rent Per SQFT
- $2,050
- $1.72
-
1445 Starburst Drive West Covina, CA 4
- 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 1995
![property image]()
LEASED 05/17/20- Rent
- Rent Per SQFT
- $2,450
- $1.58
-
1201 Tina Lane West Covina, CA 5
- 3 beds 3 baths ∙ 1,753 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,753 Sqft ∙ Built 1982
![property image]()
LEASED 12/02/20- Rent
- Rent Per SQFT
- $2,850
- $1.63
PROPERTY LISTING DETAILS
East West Realty, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS21034679
Last Updated: 02/19/2021
