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13715 Walnut Street Whittier, CA 90602

3 Beds 2 Baths 1,420 sqft Built 1959

$679,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $478.17
  • 25 Days on Market
  • MLS # : PW21004077
  • Updated Date : 02/06/2021 at 05:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,420 sqft
  • Baths : 2 full
Listing Agent

Showcase Homes, So Cal

Listing Agent's Description

This home offers a unique location, sitting higher on the lot, with a driveway access to a 2 car detached garage on the side of property. ONE STORY! This lot is a nice flat backyard. Living room, with built in custom cabinetry. Main bedroom and bath. Eat in kitchen, galley type kitchen. This Whittier cottage is ideally located, the beautiful cabinetry, built in will solve your storage needs. The two car detached garage, offers additional storage options. The back yard is spacious, and a great entry point off the living room. Unique to have a flag pole, and great curb presence. Drive up the shared driveway ( easement), to your garage entry. Add your personal touches, and make this home yours. Located close to city center, off Painter. Near shopping and dining options. Backyard is flat offering many options. Note: great floorplan, this home has original kitchen and baths. Updated photos to follow shortly. MUST FOLLOW COVID 10 DRE AND CAR GUIDLINES. MASK AND PPE. LIMITED TOUCH OR USE GLOVES. COVID FORM PEAD REQUIRED TO BE SIGNED BY ALL PERSONS ENTERING THE PROPERTY. AGENTS SEE NOTES IN REMARKS

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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: Whittier

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: Whittier

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492941

* 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
Lou Henry Hoover Elementary School Primary Regular 485 17 5
Walter F. Dexter Middle School Middle Regular 1,097 41 4
Whittier High School High Regular 2,164 83 6

Lou Henry Hoover Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 17
5
GreatSchools Rating

Walter F. Dexter Middle School

  • Education Level: Middle
  • # of students: 1,097
  • # of teachers: 41
4
GreatSchools Rating

Whittier High School

  • Education Level: High
  • # of students: 2,164
  • # of teachers: 83
6
GreatSchools Rating
 

$611,100$746,900$679,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$2,358
Property Tax -$736
Property Insurance -$61
Property Management Fees -$132
CASH FLOW
-$598

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.

$679,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,685

INVESTMENT

$185,685

Down Payment
$169,750
Rehab Estimate
$5,750
Closing Costs
$10,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,358

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,750
Loan Amount $509,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,480

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $2,438

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,6904$2,700
$2,700
RENT COMPS ANALYSIS
  • 13715 Walnut Street Whittier, CA 3
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.89
    •  
  • 8649 Davista Drive Whittier, CA 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1950
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.66
    •  
  • 12318 Beverly Drive Whittier, CA 2
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1955
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.76
    •  
  • 13604 Sunrise Drive Whittier, CA 4
    • 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 1964
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.73
    •  
PROPERTY LISTING DETAILS
Joyce Leonard
Showcase Homes, So Cal
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21004077
Last Updated: 02/06/2021
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