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11219 Inez Street Whittier, CA 90605

3 Beds 1 Baths 995 sqft Built 1950

$569,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $572.76
  • 4 Days on Market
  • MLS # : PW21039616
  • Updated Date : 02/26/2021 at 09:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 995 sqft
  • Baths : 1 full
Listing Agent

Realty One Group Diamond

Listing Agent's Description

Charming cottage on a HUGE Lot! Beautiful farm house cottage located on a QUIET, WIDE street with plenty of parking. The house sits on a HUGE lot with enough room to add an accessory unit or more! The HUGE LOT has a LARGE 2.5 car detached garage, a small stable, designated vegetable gardens and a long driveway to accommodate plenty of cars or your toys. New pavers and newer awning on the front porch welcome you into a warm and inviting living room with plenty of sunlight through newer double pane windows. Additionally, the home has Newer flooring and newer designer paint throughout the house inside and out, new tile in the bathroom, new screens in the BONUS ROOMS behind the house. The charming kitchen with new hardware opens to a large patio area and access to bonus rooms. The HUGE backyard has enough room to add to the house or add a mother-in-law quarters or more! ALL APPLIANCES INCLUDED! MUST SEE HOME! Buyers to do their due diligence on all home details including, but not limited to zoning, sq footage, bedrooms, lot square footage etc. AS-IS SALE. House has 3 bedrooms, records show 2 bedrooms. Buyer to do their due diligence for all investigations.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

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
California High School High Regular 2,955 103 7

California High School

  • Education Level: High
  • # of students: 2,955
  • # of teachers: 103
7
GreatSchools Rating
 

$512,910$626,890$569,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,979
Property Tax -$614
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$724

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.

$569,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.35%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$156,774

INVESTMENT

$156,774

Down Payment
$142,475
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,979

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,475
Loan Amount $427,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$686

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $2.03

    LIST RENT PER SQFT
  • $2,097

    COMP ESTIMATED VALUE
  • $2.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,020
1$2,0202$2,5503$2,6004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 11219 Inez Street Whittier, CA 1
    • 3 beds 1 baths ∙ 995 Sqft ∙ Built 1950 3 beds 1 baths ∙ 995 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $2.03
    •  
  • 12214 Burgess Avenue Whittier, CA 2
    • 3 beds 1 baths ∙ 1,225 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,225 Sqft ∙ Built 1954
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $2.08
    •  
  • 9939 Homage Avenue Whittier, CA 3
    • 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1953
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.13
    •  
  • 13322 Greenstone Avenue Norwalk, CA 4
    • 3 beds 1 baths ∙ 1,306 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,306 Sqft ∙ Built 1958
    property image
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.14
    •  
  • 10303 Devillo Drive Whittier, CA 5
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1955
    property image
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.08
    •  
PROPERTY LISTING DETAILS
Xavier Zaragoza
Realty One Group Diamond
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21039616
Last Updated: 02/26/2021
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