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1404 Ridley Avenue Hacienda Heights, CA 91745

3 Beds 3 Baths 1,770 sqft Built 1960

$739,000

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $417.51
  • 3 Days on Market
  • MLS # : CV20259900
  • Updated Date : 12/19/2020 at 13:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Click on the link for 3D code- https://unbranded.youriguide.com/1404_ridley_ave_hacienda_heights_ca Welcome to 1404 Ridley Ave! Single story Hacienda Heights original just hit the market! This home has custom built-ins, original wood flooring, and a white brick fireplace! The kitchen has so much character with beautiful wood cabinets, white countertops, sleek black appliances, and a bar top. The Master bedroom is a great size with 2 large closets and a remodeled bathroom. This home has been kept in immaculate condition and true to the original character. A total of 3 bedrooms and 2 1/2 bathrooms. The backyard has a large patio, palm trees, a grassy area. Both the front and backyard are beautifully landscaped!

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
Los Robles Academy Primary Regular 328 14 5
Orange Grove Middle School Middle Regular 503 22 5
Los Altos High School High Regular 2,061 75 7

Los Robles Academy

  • Education Level: Primary
  • # of students: 328
  • # of teachers: 14
5
GreatSchools Rating

Orange Grove Middle School

  • Education Level: Middle
  • # of students: 503
  • # of teachers: 22
5
GreatSchools Rating

Los Altos High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 75
7
GreatSchools Rating
 

$665,100$812,900$739,000

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$2,727
Property Tax -$773
Property Insurance -$70
Property Management Fees -$133
CASH FLOW
-$992

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.

$739,000

PROJECTED PRICE

$2,710

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

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

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$201,585

INVESTMENT

$201,585

Down Payment
$184,750
Rehab Estimate
$5,750
Closing Costs
$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,727

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,750
Loan Amount $554,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $2,735

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7103$2,8004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1404 Ridley Avenue Hacienda Heights, CA 2
    • 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.53
    •  
  • 1634 Darley Avenue Hacienda Heights, CA 1
    • 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 1970
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.41
    •  
  • 15056 Pintura Drive Hacienda Heights, CA 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1963
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.56
    •  
  • 1746 Blazing Star Drive Hacienda Heights, CA 4
    • 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1974
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.57
    •  
  • 1362 Old Canyon Drive Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1975
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.64
    •  
PROPERTY LISTING DETAILS
Lisa Di Noto
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20259900
Last Updated: 12/19/2020
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