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1240 Devonshire Lane La Habra, CA 90631

3 Beds 3 Baths 1,276 sqft Built 1976

$498,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $390.28
  • 6 Days on Market
  • MLS # : OC21018120
  • Updated Date : 02/04/2021 at 11:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,276 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome Home to this wonderfully updated two story end unit in the community of Sunny Hills Village. This spacious floor plan offers 3 bedrooms and 2.5 bathrooms. Upon entering the home you are greeted by warm wood flooring and calming neutral walls creating a cozy place to call your own. The living room features an abundance of natural light and flows easily into the kitchen, dining area and powder room for guests. Thoughtfully upgraded, the kitchen features light oak cabinetry, gorgeous black granite countertops and garden window looking into the private patio. The dining area opens to the kitchen and patio for easy entertaining and family meals. Up the newly carpeted stairs you will find the Master Suite along with two spacious secondary bedrooms and guest bathroom. The Master Bedroom creates a tranquil space including an ensuite Master Bathroom complete with double vanity and walk in closet. The secondary bedrooms feature the new carpet, ceiling fans and plantation shutters. Outside, the private patio has been improved with a full vinyl patio cover featuring lighting and ceiling fan along with a peaceful water fountain and beautiful trees lining the patio. The large two car garage has direct access through your private patio and includes plenty of storage space and your laundry area. Other features include canned lighting, plantation shutters throughout, water softener, reverse osmosis system and ideally located near the community pool, sports court and playground.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Las Positas Elementary School Primary Regular 507 21 4
Imperial Middle School Middle Regular 825 32 3
Sonora High School High Regular 1,924 67 9

Las Positas Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 21
4
GreatSchools Rating

Imperial Middle School

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

Sonora High School

  • Education Level: High
  • # of students: 1,924
  • # of teachers: 67
9
GreatSchools Rating
 

$448,200$547,800$498,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,730
Property Tax -$513
Property Insurance -$58
HOA -$275
Property Management Fees -$124
CASH FLOW
-$170

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.

$498,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.51%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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$137,720

INVESTMENT

$137,720

Down Payment
$124,500
Rehab Estimate
$5,750
Closing Costs
$7,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,500
Loan Amount $373,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$17,368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $2,520

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5303$2,6004$2,7505$3,000
$3,000
RENT COMPS ANALYSIS
  • 1240 Devonshire Lane La Habra, CA 2
    • 3 beds 3 baths ∙ 1,276 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,276 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.98
    •  
  • 891 Hartford Lane La Habra, CA 1
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1975
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.99
    •  
  • 568 Elkwood Court Brea, CA 3
    • 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1973
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
  • 221 W Parkwood Avenue La Habra, CA 4
    • 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1962
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.00
    •  
  • 401 Thunderbird Court Fullerton, CA 5
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1979
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.91
    •  
PROPERTY LISTING DETAILS
Shaun Radcliffe
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21018120
Last Updated: 02/04/2021
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