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1221 N Wiatt Way La Habra, CA 90631

3 Beds 2 Baths 1,820 sqft Built 1956

$749,900

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $412.03
  • 5 Days on Market
  • MLS # : ND20242605
  • Updated Date : 11/20/2020 at 19:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,820 sqft
  • Baths : 2 full
Listing Agent

Chameleon/red Hawk Realty

Listing Agent's Description

Excellent, sprawling home and grounds; a great combination of many modern updates, yet with charming, vintage details and character remaining. On the edge of La Habra Heights, perched high on its nearly half acre corner lot, this configuration affords pleasant views over the neighborhood and beyond. AND. SO. MUCH. SPACE. Parking in driveway alone is ample enough for 4 cars. Upper level of back of home has its own entry gate for even more vehicles/a boat/an RV? More terraced back yard is still large enough for a private orchard, gardens, even a mini vineyard! Spacious, fenced front lawn. Home is semi open kitchen to living room, fireplace, and small step down into den or entertainment room. 3 good sized bedrooms, 2 bathrooms, full laundry in hall closet. Original wood floors in very good condition throughout. Some updates include modern kitchen, hearth in fireplace, solar tubes for additional illumination, exhaust fans, alarm system, bathroom update, concrete floors in garage area, pavers in dirveway, lighting, huge AC, and more. Also includes a garden shed AND a separate workshop adjacent the two car garage -garage has 220- connected by covered walkway to home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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]
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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)
  • 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

Zip Code: 90631

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $217k742k

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

Zip Code: 90631

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17143345

* 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
Walnut Elementary School Primary Regular 559 20 3
Imperial Middle School Middle Regular 825 32 3
La Habra High School High Magnet 2,230 73 7

Walnut Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 20
3
GreatSchools Rating

Imperial Middle School

  • Education Level: Middle
  • # of students: 825
  • # of teachers: 32
3
GreatSchools Rating

La Habra High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 73
7
GreatSchools Rating
 

$674,910$824,890$749,900

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,767
Property Tax -$744
Property Insurance -$71
Property Management Fees -$157
CASH FLOW
-$539

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.

$749,900

PROJECTED PRICE

$3,200

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$16,857

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $3,235

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,0503$3,2004$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 1221 N Wiatt Way La Habra, CA 5
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.76
    •  
  • 431 Sonora Place La Habra, CA 1
    • 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1957 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1957
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.88
    •  
  • 9401 Randall Avenue La Habra, CA 2
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1955
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.62
    •  
  • 860 Country Lane La Habra, CA 3
    • 4 beds 3 baths ∙ 1,867 Sqft ∙ Built 1960 4 beds 3 baths ∙ 1,867 Sqft ∙ Built 1960
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.71
    •  
  • 1131 Brookdale Avenue La Habra, CA 4
    • 3 beds 1 baths ∙ 1,688 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,688 Sqft ∙ Built 1963
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.90
    •  
PROPERTY LISTING DETAILS
Angela Acosta
Chameleon/red Hawk Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: ND20242605
Last Updated: 11/20/2020
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