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11305 Painter Avenue Whittier, CA 90605

3 Beds 1 Baths 1,232 sqft Built 1948

$480,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $389.61
  • 6 Days on Market
  • MLS # : DW20237066
  • Updated Date : 11/11/2020 at 10:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,232 sqft
  • Baths : 1 full
Listing Agent

Century 21 Allstars

Listing Agent's Description

Excellent starter home!!! Spacious bedrooms and an upgraded kitchen with quartz tops and custom cabinets. Tile floor throughout and indoor laundry room. Synthetic grass in front and side yard for easy maintenance. Many fruit trees and plants for easy relaxation in your private oasis. With a little TLC this house will shine!!! Solar panels are leased and can be transferred. Payment is only $68 a month.

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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: 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
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,771
Property Tax -$534
Property Insurance -$57
Property Management Fees -$107
CASH FLOW
-$289

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.

$480,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$16,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $2,427

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,180
1$2,1802$2,4503$2,5004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 11305 Painter Avenue Whittier, CA 1
    • 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.77
    •  
  • 12912 Joshua Lane Norwalk, CA 2
    • 4 beds 2 baths ∙ 1,353 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,353 Sqft ∙ Built 1964
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.81
    •  
  • 13650 Greenstone Avenue Norwalk, CA 3
    • 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1956
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.01
    •  
  • 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
    •  
  • 14417 Allegan Street Whittier, CA 5
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
PROPERTY LISTING DETAILS
Jaime Garcia
Century 21 Allstars
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20237066
Last Updated: 11/11/2020
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