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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 90631
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,474
LOAN DETAILS
$2,767
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $187,475 |
| Loan Amount | $562,425 |
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
-
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
Chameleon/red Hawk Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: ND20242605
Last Updated: 11/20/2020
