Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

14003 Russell Street Whittier, CA 90605

3 Beds 2 Baths 1,388 sqft Built 1953

$649,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1953
  • Price/Sqft : $467.58
  • 12 Days on Market
  • MLS # : DW20227838
  • Updated Date : 11/06/2020 at 15:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,388 sqft
  • Baths : 2 full
Listing Agent

Century 21 Realty Masters

Listing Agent's Description

RAIN OR SHINE! We'll be here this weekend! Lets talk about LOCATION! Lets talk about a HOME that you won't want to miss this weekend! The Manjarrez Group welcomes you this THREE bedroom, TWO bathroom home situated in the highly desired area of Michigan Park in the beautiful city of Whittier. This home consists of a living room with a fireplace, family room, a large kitchen that opens up to the family room and a separate dining area with open beam ceilings. This home has new dual pane windows, new sliding door, central ac and heat, and a tankless water heater. Not mention, a large backyard with an enclosed patio that is perfect for entertaining family and friends. A spacious two car garage for extra parking or storage. Located minutes from top rated schools, parks, restaurants, and two shopping centers, this home will be one worth seeing. See you here this weekend...

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
Ocean View Elementary School Primary Regular 795 30 9
East Whittier Middle School Middle Regular 1,287 45 8
California High School High Regular 2,955 103 7

Ocean View Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 30
9
GreatSchools Rating

East Whittier Middle School

  • Education Level: Middle
  • # of students: 1,287
  • # of teachers: 45
8
GreatSchools Rating

California High School

  • Education Level: High
  • # of students: 2,955
  • # of teachers: 103
7
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,395
Property Tax -$683
Property Insurance -$61
Property Management Fees -$130
CASH FLOW
-$608

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.

$649,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.41%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$8,914

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $2,547

    COMP ESTIMATED VALUE
  • $1.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,660
1$2,6602$2,7003$2,800
$2,800
RENT COMPS ANALYSIS
  • 14003 Russell Street Whittier, CA 1
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.92
    •  
  • 13604 Sunrise Drive Whittier, CA 2
    • 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 1964
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.73
    •  
  • 13946 Valna Drive Whittier, CA 3
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1953
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.94
    •  
PROPERTY LISTING DETAILS
Jose Manjarrez
Century 21 Realty Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20227838
Last Updated: 11/06/2020
BESbswy