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10839 Howard Street Whittier, CA 90606

3 Beds 1 Baths 1,277 sqft Built 1941

$625,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $489.43
  • 2 Days on Market
  • MLS # : PW20231211
  • Updated Date : 11/14/2020 at 11:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,277 sqft
  • Baths : 1 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Looking for extra space? This home is what you have been searching for! Awesome detached "man cave" PLUS separate work shed/storage room. The house is located on a cute tree lined street with lots of pride of ownership in the neighborhood. Enter into a large family room with fireplace and separate dining area. Granite counters in kitchen with self cleaning oven and eat in kitchen nook. The bedrooms are generous size with newer carpet and ceiling fans. Bathroom has granite counters and tub/shower combo. New vinyl flooring in the living space and fresh paint throughout the interior. Whimsical backyard with lots of privacy, pavered walkway and firepit seating area is perfect for entertaining. Raised garden beds, lime, avocado and fuyu persimmon trees produce fresh food for your family. Extra long driveway and two car garage. Other upgrades included newer AC unit, painted exterior, new roof on “man cave” along with mini split AC/heating unit, upgraded electrical panel, double paned windows, wired for surround sound and internet, and home security system. This is a must see!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Longfellow Elementary School Primary Regular 593 22 5
Walter F. Dexter Middle School Middle Regular 1,097 41 4
Whittier High School High Regular 2,164 83 6

Longfellow Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 22
5
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
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,306
Property Tax -$678
Property Insurance -$58
Property Management Fees -$123
CASH FLOW
-$645

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.

$625,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.40%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $2,707

    COMP ESTIMATED VALUE
  • $2.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,520
1$2,5202$2,6503$2,7004$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 10839 Howard Street Whittier, CA 1
    • 3 beds 1 baths ∙ 1,277 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,277 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $1.97
    •  
  • 5633 Palm Avenue Whittier, CA 2
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1947
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.21
    •  
  • 5235 Palm Ave Whittier, CA 3
    • 3 beds 1 baths ∙ 1,248 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,248 Sqft ∙ Built 1954
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.16
    •  
  • 6413 Milna Avenue Whittier, CA 4
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1949
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
  • 10832 El Rey Drive Whittier, CA 5
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1941
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.19
    •  
PROPERTY LISTING DETAILS
Janice Stahler
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20231211
Last Updated: 11/14/2020
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