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12226 Carmenita Road Whittier, CA 90605

3 Beds 2 Baths 1,300 sqft Built 1934

$505,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1934
  • Price/Sqft : $388.46
  • 6 Days on Market
  • MLS # : IV21032327
  • Updated Date : 02/19/2021 at 07:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

Dream Homes Realty

Listing Agent's Description

This beautiful 3 bedroom 2 bathroom Whittier home was 1300sq of well kept living space seated on a 6593 with a 2 car detached garage and has plenty of parking space. conveniently located near the shopping center.

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MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)

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
 

$454,500$555,500$505,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,754
Property Tax -$549
Property Insurance -$59
Property Management Fees -$128
CASH FLOW
$130

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.

$505,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.52%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$53,545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $2.02

    LIST RENT PER SQFT
  • $2,695

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6203$2,8004$2,900
$2,900
RENT COMPS ANALYSIS
  • 12226 Carmenita Road Whittier, CA 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1934 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1934
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $2.02
    •  
  • 12214 Burgess Avenue Whittier, CA 1
    • 3 beds 1 baths ∙ 1,225 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,225 Sqft ∙ Built 1954
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $2.08
    •  
  • 14417 Allegan Street Whittier, CA 3
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
  • 12021 Kenney Street Norwalk, CA 4
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1949
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.22
    •  
PROPERTY LISTING DETAILS
Melody De La Rosa
Dream Homes Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21032327
Last Updated: 02/19/2021
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