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PROPERTY INFO
FACTS
- Single Family
- Built In 1960
- Price/Sqft : $318.67
- 7 Days on Market
- MLS # : IG20257325
- Updated Date : 12/16/2020 at 16:18
CONSTRUCTION
- Beds : 4
- Floor Size : 1,773 sqft
- Baths : 2 full
Listing Agent
Century 21 Gold
Listing Agent's Description
Fixer - big house needs an imaginative buyer to make it shine. Well priced to reflect needed deferred maintenance and repairs. Most desirable single story in the ideal location. Brand new homes currently being sold in the same street. Very large lot. Located near Fwy 60, groceries and commercial stores. So much potential. To be sold as is, no repairs or termite clearance.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Hacienda Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hacienda Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,770 |
| EXPENSES | Loan Payment | -$2,085 |
| Property Tax | -$621 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$136 | |
|
CASH FLOW
-$141
|
||
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.
$565,000
PROJECTED PRICE
$2,770
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$155,475
LOAN DETAILS
$2,085
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $141,250 |
| Loan Amount | $423,750 |
5.33
YEARS SAVED
$37,516
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,770
LIST RENT -
$1.56
LIST RENT PER SQFT
-
$3,027
COMP ESTIMATED VALUE -
$1.71
COMP AVG. RENT PER SQFT
Comps Range
-
1123 Galemont Avenue Hacienda Heights, CA 2
- 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 1960
![property image]()
- Rent
- Rent Per SQFT
- $2,770
- $1.56
-
1926 Kellerton Drive La Puente, CA 1
- 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955
![property image]()
LEASED 09/28/20- Rent
- Rent Per SQFT
- $2,650
- $1.66
-
1920 Olympus Avenue Hacienda Heights, CA 3
- 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956
![property image]()
LEASED 02/14/20- Rent
- Rent Per SQFT
- $2,800
- $1.80
-
1746 Blazing Star Drive Hacienda Heights, CA 4
- 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1974
![property image]()
LEASED 06/26/19- Rent
- Rent Per SQFT
- $2,800
- $1.57
-
1908 Angelcrest Drive Hacienda Heights, CA 5
- 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1961
![property image]()
LEASED 10/02/20- Rent
- Rent Per SQFT
- $3,200
- $1.80
PROPERTY LISTING DETAILS
Century 21 Gold
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20257325
Last Updated: 12/16/2020
