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1123 Galemont Avenue Hacienda Heights, CA 91745

4 Beds 2 Baths 1,773 sqft Built 1960

$565,000

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 15, 2020 RECENTLY ADDED
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

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15593697

* 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
Kwis Elementary School Primary Regular 326 12 5
Newton Middle School Middle Regular 549 23 7
Los Altos High School High Regular 2,061 75 7

Kwis Elementary School

  • Education Level: Primary
  • # of students: 326
  • # of teachers: 12
5
GreatSchools Rating

Newton Middle School

  • Education Level: Middle
  • # of students: 549
  • # of teachers: 23
7
GreatSchools Rating

Los Altos High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 75
7
GreatSchools Rating
 

$508,500$621,500$565,000

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

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
$2,650
1$2,6502$2,7703$2,8004$2,8005$3,200
$3,200
RENT COMPS ANALYSIS
  • 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
Ethelia Badua
Century 21 Gold
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20257325
Last Updated: 12/16/2020
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