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10803 Canelo Road Whittier, CA 90604

4 Beds 2 Baths 1,554 sqft Built 1954

$680,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $437.58
  • 4 Days on Market
  • MLS # : PW20230151
  • Updated Date : 11/05/2020 at 18:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,554 sqft
  • Baths : 2 full
Listing Agent

Oscar G. Loera

Listing Agent's Description

Calling all Agents! This property will sell fast! Sweet home Alabama! Must see to appreciate! Pride ownership! Interior has been customized featuring open floor plan with beautiful laminate flooring through out the house for entertaining, enjoy hot cocoa by the fireplace. Love COOKING look at this gorgeous custom French modern country kitchen with quartz counters. Bathrooms features updated new modern/country. Front yard features automatic sprinklers and a generous driveway it accommodates 4 cars plus RV/Boat with a long driveway. Back yard features two car garage, separate custom storage shed. Your buyers will love this... this is icing on the cake a nice custom work/office/studio, gazebo with lights, koi pond, garden fruit tree, big back yard.. must see! Your buyers will fall in-love! NOTE: All appliances are included washer/dryer/refrigerator/stove/microwave.

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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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: South Whittier

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: South Whittier

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13892941

* 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
La Colima Elementary School Primary Regular 522 21 6
Hillview Middle School Middle Regular 676 31 6
La Serna High School High Regular 2,940 100 9

La Colima Elementary School

  • Education Level: Primary
  • # of students: 522
  • # of teachers: 21
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
 

$612,000$748,000$680,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,509
Property Tax -$731
Property Insurance -$65
Property Management Fees -$135
CASH FLOW
-$689

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.

$680,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

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$185,950

INVESTMENT

$185,950

Down Payment
$170,000
Rehab Estimate
$5,750
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $2,852

    COMP ESTIMATED VALUE
  • $1.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,8004$2,9005$2,900
$2,900
RENT COMPS ANALYSIS
  • 10803 Canelo Road Whittier, CA 2
    • 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $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
    •  
  • 14417 Allegan Street Whittier, CA 3
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
  • 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
    •  
  • 11734 Broadfield Drive La Mirada, CA 5
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1958
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.82
    •  
PROPERTY LISTING DETAILS
Oscar Loera
Oscar G. Loera
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20230151
Last Updated: 11/05/2020
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