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1315 Lancewood Avenue Hacienda Heights, CA 91745

3 Beds 2 Baths 1,138 sqft Built 1955

$579,900

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $509.58
  • 4 Days on Market
  • MLS # : TR20259421
  • Updated Date : 12/18/2020 at 08:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,138 sqft
  • Baths : 2 full
Listing Agent

Time Real Estate

Listing Agent's Description

NEW NEW NEW! Beautifully remodeled Hacienda Heights home. Stunning 3 bedroom 2 bath home. Brand new kitchen with new stove, refrigerator, dishwasher and microwave. New copper plumbing and updated electrical. Fresh paint and new floors.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15593697

* 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
Cedarlane Academy Primary Regular 543 25 6
Cedarlane Academy Middle Regular 543 25 6
Glen A. Wilson High School High Regular 1,616 64 9

Cedarlane Academy

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 25
6
GreatSchools Rating

Cedarlane Academy

  • Education Level: Middle
  • # of students: 543
  • # of teachers: 25
6
GreatSchools Rating

Glen A. Wilson High School

  • Education Level: High
  • # of students: 1,616
  • # of teachers: 64
9
GreatSchools Rating
 

$521,910$637,890$579,900

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$2,140
Property Tax -$596
Property Insurance -$55
Property Management Fees -$107
CASH FLOW
-$707

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.

$579,900

PROJECTED PRICE

$2,190

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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

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$159,424

INVESTMENT

$159,424

Down Payment
$144,975
Rehab Estimate
$5,750
Closing Costs
$8,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,975
Loan Amount $434,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,924

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $2,185

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1903$2,3504$2,3805$2,450
$2,450
RENT COMPS ANALYSIS
  • 1315 Lancewood Avenue Hacienda Heights, CA 2
    • 3 beds 2 baths ∙ 1,138 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,138 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.92
    •  
  • 15716 Lujon Street Hacienda Heights, CA 1
    • 3 beds 1 baths ∙ 988 Sqft ∙ Built 1957 3 beds 1 baths ∙ 988 Sqft ∙ Built 1957
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.87
    •  
  • 16117 Hollis Street Hacienda Heights, CA 3
    • 4 beds 2 baths ∙ 1,242 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,242 Sqft ∙ Built 1955
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.89
    •  
  • 1126 S Nantes Avenue Hacienda Heights, CA 4
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1958
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.93
    •  
  • 1140 Eldon Avenue Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1958
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.99
    •  
PROPERTY LISTING DETAILS
Amanda Quick
Time Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20259421
Last Updated: 12/18/2020
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