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10240 Deveron Drive Whittier, CA 90601

3 Beds 2 Baths 1,669 sqft Built 1952

$725,000

List Price

$3,090

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $434.39
  • 8 Days on Market
  • MLS # : PW21036309
  • Updated Date : 02/27/2021 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,669 sqft
  • Baths : 2 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

First time on the market, original owner Whittier single story home offers 3 bedrooms / 2 bathrooms offering 1,669 square feet, with a lot size of 9,537 square feet. Property also features detached storage/hobby room with ADU possibilities approx size of 357 square feet. Other features include: spacious open floor plan, remodeled kitchen with custom cabinets, stainless steel appliances, recessed and pendant lighting, dual pane windows, tank-less water heater, copper plumbing, main drain line replaced to city sewer 2010, spacious master bedroom and remodeled master bathroom, copper plumbing, central air conditioning/heating and gated driveway. Centrally located close to 605 freeway for easy commute.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Whittier

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: Whittier

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492941

* 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
Mill Elementary School Primary Regular 455 16 7
Walter F. Dexter Middle School Middle Regular 1,097 41 4
Whittier High School High Regular 2,164 83 6

Mill Elementary School

  • Education Level: Primary
  • # of students: 455
  • # of teachers: 16
7
GreatSchools Rating

Walter F. Dexter Middle School

  • Education Level: Middle
  • # of students: 1,097
  • # of teachers: 41
4
GreatSchools Rating

Whittier High School

  • Education Level: High
  • # of students: 2,164
  • # of teachers: 83
6
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$2,518
Property Tax -$787
Property Insurance -$67
Property Management Fees -$151
CASH FLOW
-$434

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.

$725,000

PROJECTED PRICE

$3,090

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$19,018

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,090

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $3,138

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7003$2,8004$3,090
$3,090
RENT COMPS ANALYSIS
  • 10240 Deveron Drive Whittier, CA 4
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,090
    • $1.85
    •  
  • 12318 Beverly Drive Whittier, CA 1
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1955
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.76
    •  
  • 4003 Aleman Avenue Pico Rivera, CA 2
    • 4 beds 2 baths ∙ 1,375 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,375 Sqft ∙ Built 1953
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.96
    •  
  • 6413 Milna Avenue Whittier, CA 3
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1949
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
PROPERTY LISTING DETAILS
Lori Desantis
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21036309
Last Updated: 02/27/2021
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