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10917 Spy Glass Hill Road Whittier, CA 90601

4 Beds 3 Baths 2,174 sqft Built 1977

$849,988

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $390.98
  • 6 Days on Market
  • MLS # : PF20245384
  • Updated Date : 11/25/2020 at 15:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,174 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Welcome to Spy Glass Hills Estates. This tastefully remodeled executive pool home with spectacular 180-degree views of the San Gabriel Mountains, Pasadena, Downtown L.A. and more is nestled in an upscale community on a quiet street. . The house has 4 bedrooms and 3 full baths with 1 bedroom and 1 bath located downstairs. Home offers ample space, cathedral ceilings, new floors and paint, remodeled bathrooms, pool, spa, two large covered patios near the pool and a huge upper level patio Both levels have amazing million dollar views that will amaze.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Rose Hills

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $178k856k

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

Neighborhood: Rose Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14493790

* 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
 

$764,989$934,987$849,988

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$3,136
Property Tax -$921
Property Insurance -$80
HOA -$60
Property Management Fees -$163
CASH FLOW
-$1,029

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.

$849,988

PROJECTED PRICE

$3,330

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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-$20k-$15k-$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$230,997

INVESTMENT

$230,997

Down Payment
$212,497
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,497
Loan Amount $637,491
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,891

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,330

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $3,544

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,330
$3,330
RENT COMPS ANALYSIS
  • 10917 Spy Glass Hill Road Whittier, CA 2
    • 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $3,330
    • $1.53
    •  
  • 12516 Whitley Street Whittier, CA 1
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1985
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.63
    •  
PROPERTY LISTING DETAILS
Robert Giambalvo
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PF20245384
Last Updated: 11/25/2020
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