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11143 El Rey Drive Whittier, CA 90606

3 Beds 1 Baths 1,329 sqft Built 1940

$550,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $413.84
  • 2 Days on Market
  • MLS # : CV20240130
  • Updated Date : 11/14/2020 at 19:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,329 sqft
  • Baths : 1 full
Listing Agent

United Executives

Listing Agent's Description

DON'T MISS OUT ON THIS BEAUTIFUL HOME LOCATED IN A QUIET NEIGHBORHOOD. THIS 3 BEDROOM 1 BATH HOME HAS ORIGINAL HARDWOOD FLOORS, BATHROOM HAS BEEN UPDATED, INSIDE LAUNDRY ROOM , TREELINE STREET AND BEAUTIFUL LANDSCAPING IN THE FRONT YARD, LARGE BACKTARD FOR KIDS TO PLAY OR A GARDNER'S DELIGHT. OFFERING A 2 CAR GARAGE AND A NICE LONG DRIVEWAY GIVING AMPLE ROOM FOR PARKING.

SEE MORE

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
 

$495,000$605,000$550,000

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 -$2,029
Property Tax -$596
Property Insurance -$59
Property Management Fees -$137
CASH FLOW
-$22

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.

$550,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.51%

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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$49,938

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
  • $2.11

    LIST RENT PER SQFT
  • $2,817

    COMP ESTIMATED VALUE
  • $2.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7003$2,8004$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 11143 El Rey Drive Whittier, CA 4
    • 3 beds 1 baths ∙ 1,329 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,329 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.11
    •  
  • 5633 Palm Avenue Whittier, CA 1
    • 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 2
    • 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 3
    • 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
Gilbert Lopez-torres
United Executives
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20240130
Last Updated: 11/14/2020
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