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13031 Close Street Whittier, CA 90605

3 Beds 1 Baths 1,195 sqft Built 1959

$545,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1959
  • Price/Sqft : $456.07
  • 10 Days on Market
  • MLS # : PW20225434
  • Updated Date : 11/01/2020 at 09:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,195 sqft
  • Baths : 1 full
Listing Agent

Re/max Top Producers

Listing Agent's Description

HOME SWEET HOME! This updated home in located in well kept pride-of-ownership neighborhood. Home has been updated with new roof in 2019 and new A/C unit in 2018. Kitchen has granite tile with lots of counter space. Master bedroom has private 3/4 bathroom. Home has double-paned windows and updated electrical panel. Home is in a great location with walking distance to St Paul High School, close to shopping and uptown Whittier. Has a large "pool sized" backyard with covered patio and hill views for lazy relaxation days or for entertaining guests. Water Heater and Washer/Dryer hookups have been installed into the 2-car garage. Direct access/attached Garage has an unpermitted room that new owner can tear down after purchase to restore to full 2-car garage. Don't miss out on this wonderful home.

SEE MORE

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
Pioneer High School High Regular 1,414 57 6

Pioneer High School

  • Education Level: High
  • # of students: 1,414
  • # of teachers: 57
6
GreatSchools Rating
 

$490,500$599,500$545,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$2,011
Property Tax -$591
Property Insurance -$56
Property Management Fees -$114
CASH FLOW
-$452

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.

$545,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,175

INVESTMENT

$150,175

Down Payment
$136,250
Rehab Estimate
$5,750
Closing Costs
$8,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,011

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $136,250
Loan Amount $408,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$10,409

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.94

    LIST RENT PER SQFT
  • $2,495

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,3503$2,5004$2,8005$2,945
$2,945
RENT COMPS ANALYSIS
  • 13031 Close Street Whittier, CA 1
    • 3 beds 1 baths ∙ 1,195 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,195 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.94
    •  
  • 14102 La Forge Street Whittier, CA 2
    • 3 beds 1 baths ∙ 1,094 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,094 Sqft ∙ Built 1950
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.15
    •  
  • 13213 Danbrook Drive Whittier, CA 3
    • 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1940
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.06
    •  
  • 10303 Devillo Drive Whittier, CA 4
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1955
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.08
    •  
  • 9103 Bluford Avenue Whittier, CA 5
    • 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,945
    • $2.06
    •  
PROPERTY LISTING DETAILS
Geri De Ville
Re/max Top Producers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20225434
Last Updated: 11/01/2020
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