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10245 Hester Avenue Whittier, CA 90603

3 Beds 2 Baths 1,582 sqft Built 1952

$675,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $426.68
  • 10 Days on Market
  • MLS # : DW20238963
  • Updated Date : 11/21/2020 at 19:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,582 sqft
  • Baths : 2 full
Listing Agent

First Executives Team Realty

Listing Agent's Description

Welcome home! This lovely 3 bedroom, 2 bathroom Pool home in East Whitter is just waiting for you to make it your own. Just imagine the great times you will have out by the pool and jacuzzi with friends and family. The pool does have a new pool pump. This is a wonderful home in a very desirable neighborhood. Walking distance to Whittwood mall, shopping and dining.

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: 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
Orchard Dale Elementary School Primary Regular 620 27 6
Hillview Middle School Middle Regular 676 31 6
La Serna High School High Regular 2,940 100 9

Orchard Dale Elementary School

  • Education Level: Primary
  • # of students: 620
  • # of teachers: 27
6
GreatSchools Rating

Hillview Middle School

  • Education Level: Middle
  • # of students: 676
  • # of teachers: 31
6
GreatSchools Rating

La Serna High School

  • Education Level: High
  • # of students: 2,940
  • # of teachers: 100
9
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,490
Property Tax -$705
Property Insurance -$65
Property Management Fees -$137
CASH FLOW
-$598

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.

$675,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.41%

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,965

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $2,867

    COMP ESTIMATED VALUE
  • $1.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$2,8004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 10245 Hester Avenue Whittier, CA 3
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.77
    •  
  • 15039 Goodhue Street Whittier, CA 1
    • 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1955
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.87
    •  
  • 10518 Nashville Avenue Whittier, CA 2
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1950
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.70
    •  
  • 14857 Cedarsprings Drive Whittier, CA 4
    • 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1951 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1951
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.73
    •  
  • 10451 Portada Drive Whittier, CA 5
    • 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1955
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.95
    •  
PROPERTY LISTING DETAILS
Jan Samano
First Executives Team Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20238963
Last Updated: 11/21/2020
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