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13309 Meyer Road #C Whittier, CA 90605

3 Beds 3 Baths 1,196 sqft Built 1985

$448,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $374.58
  • 16 Days on Market
  • MLS # : PW20247729
  • Updated Date : 12/11/2020 at 15:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,196 sqft
  • Baths : 3 full
Listing Agent

Realty One Group Synergy

Listing Agent's Description

Welcome to this lovely Whittier home! Featuring a modern open layout with 1,196 Sqft of living space, 3 bedrooms, 3 updated bathrooms, an open living room and updated kitchen with room for a spacious dining area, and a large master suite with high ceilings and an attach master bathroom! Other features include laminate wood floors, recessed lighting, Central AC/Heat, modern light fixtures, and so much more! Also complimenting this home are an attached 2 car garage and a patio area perfect for outdoor dining! The gated community features a peaceful pool area and is just minutes from many amenities including schools, parks, restaurants & shops. Thank you for viewing this home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Santa Fe Springs

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: Santa Fe Springs

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14292941

* 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
 

$403,200$492,800$448,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,653
Property Tax -$482
Property Insurance -$56
HOA -$225
Property Management Fees -$119
CASH FLOW
-$115

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.

$448,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,470

INVESTMENT

$124,470

Down Payment
$112,000
Rehab Estimate
$5,750
Closing Costs
$6,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,000
Loan Amount $336,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$27,606

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $2.02

    LIST RENT PER SQFT
  • $2,488

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,420
1$2,4202$2,500
$2,500
RENT COMPS ANALYSIS
  • 13309 Meyer Road Whittier, CA 1
    • 3 beds 3 baths ∙ 1,196 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,196 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $2.02
    •  
  • 13221 Leffingwell Road Whittier, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1997
    property image
    LEASED 06/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.08
    •  
PROPERTY LISTING DETAILS
Angel&pat Hernandez
Realty One Group Synergy
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20247729
Last Updated: 12/11/2020
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