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14148 Chere Drive Whittier, CA 90604

3 Beds 2 Baths 1,211 sqft Built 1954

$575,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $474.81
  • 6 Days on Market
  • MLS # : DW20261768
  • Updated Date : 12/25/2020 at 19:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,211 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

Great Home in Whittier!!! This cozy home will make you feel right at home. Cozy home includes 3 bedrooms 2 bathrooms. This home has lots of potential. The living room is bright with lots of windows. Dining area near the kitchen and living room. Laundry room next to the kitchen. Carpet in the living room and hardwood floors in one of the bedrooms and lots lots more.....

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: South Whittier

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: South Whittier

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13892941

* 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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,122
Property Tax -$627
Property Insurance -$56
Property Management Fees -$123
CASH FLOW
-$417

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.

$575,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.0%
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$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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$14,625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $2.07

    LIST RENT PER SQFT
  • $2,268

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,510
1$2,5102$2,6003$2,7004$2,8005$2,900
$2,900
RENT COMPS ANALYSIS
  • 14148 Chere Drive Whittier, CA 1
    • 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $2.07
    •  
  • 14103 Foster Road La Mirada, CA 2
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1955
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.84
    •  
  • 14879 Fairvilla Drive La Mirada, CA 3
    • 3 beds 1 baths ∙ 1,445 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,445 Sqft ∙ Built 1958
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.87
    •  
  • 14417 Allegan Street Whittier, CA 4
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
  • 14781 Lucinda Drive Whittier, CA 5
    • 3 beds 1 baths ∙ 1,555 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,555 Sqft ∙ Built 1956
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.86
    •  
PROPERTY LISTING DETAILS
Ramon Sanchez
Exp Realty Of California Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20261768
Last Updated: 12/25/2020
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