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1421 Heatherton Avenue Rowland Heights, CA 91748

4 Beds 3 Baths 1,598 sqft Built 1977

$629,900

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $394.18
  • 3 Days on Market
  • MLS # : PW20256015
  • Updated Date : 12/11/2020 at 16:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,598 sqft
  • Baths : 3 full
Listing Agent

Mashney Realty

Listing Agent's Description

Great Family Home! Located in a favorable and quiet neighborhood. This 4 bedroom, 3 bath home offers an excellent layout! Includes a family room, formal dining room, granite kitchen and a convenient bedroom and bathroom located on the first level. It also has a two car garage and a large driveway which pushes you further back from the street giving you more privacy. The spacious backyard is ideal for those who want to entertain and barbecue with family and friends. This home is PERFECT for investors!!! Offers a huge income return potential. It is also a perfect opportunity for first home buyers who are willing to do some work and capitalize on an excellent property.

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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: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $187k690k

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

Neighborhood: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001700180019002000210022002300240025002600270028002900Rent in $15582941

* 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
Jellick Elementary School Primary Regular 440 20 4
Alvarado Intermediate School Middle Regular 750 30 7
John A. Rowland High School High Regular 2,329 87 8

Jellick Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 20
4
GreatSchools Rating

Alvarado Intermediate School

  • Education Level: Middle
  • # of students: 750
  • # of teachers: 30
7
GreatSchools Rating

John A. Rowland High School

  • Education Level: High
  • # of students: 2,329
  • # of teachers: 87
8
GreatSchools Rating
 

$566,910$692,890$629,900

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,324
Property Tax -$682
Property Insurance -$66
Property Management Fees -$130
CASH FLOW
-$551

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.

$629,900

PROJECTED PRICE

$2,650

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.0%
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$172,674

INVESTMENT

$172,674

Down Payment
$157,475
Rehab Estimate
$5,750
Closing Costs
$9,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,475
Loan Amount $472,425
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $2,785

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6503$2,7504$2,7905$2,800
$2,800
RENT COMPS ANALYSIS
  • 1421 Heatherton Avenue Rowland Heights, CA 2
    • 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.66
    •  
  • 18314 Companario Drive Rowland Heights, CA 1
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1958
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.78
    •  
  • 1414 Heatherton Avenue Rowland Heights, CA 3
    • 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.72
    •  
  • 1421 Greenport Avenue Rowland Heights, CA 4
    • 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,598 Sqft ∙ Built 1977
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.75
    •  
  • 19109 Galatina Street Rowland Heights, CA 5
    • 4 beds 4 baths ∙ 1,624 Sqft ∙ Built 1968 4 beds 4 baths ∙ 1,624 Sqft ∙ Built 1968
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.72
    •  
PROPERTY LISTING DETAILS
Victoria Abbey
Mashney Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20256015
Last Updated: 12/11/2020
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