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1128 Old Canyon Drive Hacienda Heights, CA 91745

3 Beds 1 Baths 1,500 sqft Built 1960

$735,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $490.00
  • 3 Days on Market
  • MLS # : PW21009034
  • Updated Date : 01/15/2021 at 21:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 1 full
Listing Agent

Remax Community Realty

Listing Agent's Description

One story home in charming Hacienda heights, Formal entry leads to living room with fireplace ,French doors to enclosed bonus room. Family kitchen with breakfast bar built in appliances, adjoining laundry room, Tile counter tops and lots of cupboard and storage space. Master suite 3/4 bath Home has been upgraded through the years with most recent improvements to windows, air and heating system, Flooring. Full bath remodeled and patio enclosure with prefabricated walls, ceiling, also wall and electrical systems all with building permits. This adds an additional 200 square feet in living space. Fenced yard double attached garage, door opener, cement driveway, mature shrubs and rose garden. Please adhere to current public health mandates, submit PEAD to artvega4homes@yahoo.com

SEE MORE

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
Palm Elementary School Primary Regular 397 16 5
Orange Grove Middle School Middle Regular 503 22 5
Los Altos High School High Regular 2,061 75 7

Palm Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 16
5
GreatSchools Rating

Orange Grove Middle School

  • Education Level: Middle
  • # of students: 503
  • # of teachers: 22
5
GreatSchools Rating

Los Altos High School

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

$661,500$808,500$735,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,553
Property Tax -$756
Property Insurance -$63
Property Management Fees -$123
CASH FLOW
-$976

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.

$735,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.34%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

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$200,525

INVESTMENT

$200,525

Down Payment
$183,750
Rehab Estimate
$5,750
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,553

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$412

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $1.68

    LIST RENT PER SQFT
  • $2,558

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5004$2,5205$2,800
$2,800
RENT COMPS ANALYSIS
  • 1128 Old Canyon Drive Hacienda Heights, CA 4
    • 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $1.68
    •  
  • 15032 Denley Street Hacienda Heights, CA 1
    • 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1957
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.76
    •  
  • 851 Caraway Drive Whittier, CA 2
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1963
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.63
    •  
  • 15039 Binney Street Hacienda Heights, CA 3
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1957
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.79
    •  
  • 1362 Old Canyon Drive Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1975
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.64
    •  
PROPERTY LISTING DETAILS
Arthur Vega
Remax Community Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21009034
Last Updated: 01/15/2021
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