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14219 Reis Street Whittier, CA 90604

3 Beds 1 Baths 1,041 sqft Built 1955

$599,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $575.41
  • 4 Days on Market
  • MLS # : PW21003301
  • Updated Date : 01/07/2021 at 20:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,041 sqft
  • Baths : 1 full
Listing Agent

Impact Properties, Inc

Listing Agent's Description

COMPLETELY REMODELED and absolutely gorgeous! With a beautiful, fresh paint job in and out, new windows, incredibly modern kitchen and bath, the laundry was relocated to the garage, an extra large covered patio with two ceiling fans and an extremely large oversized lot! This home is a must see today!

SEE MORE

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: 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
Ceres Elementary School Primary Regular 347 13 7
Granada Middle School Middle Regular 1,087 41 8
California High School High Regular 2,955 103 7

Ceres Elementary School

  • Education Level: Primary
  • # of students: 347
  • # of teachers: 13
7
GreatSchools Rating

Granada Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 41
8
GreatSchools Rating

California High School

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

$539,100$658,900$599,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,081
Property Tax -$639
Property Insurance -$52
Property Management Fees -$110
CASH FLOW
-$632

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.

$599,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.38%

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

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$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $1,931

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,600
$2,600
RENT COMPS ANALYSIS
  • 14219 Reis Street Whittier, CA 1
    • 3 beds 1 baths ∙ 1,041 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,041 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.16
    •  
  • 10611 La Alba Drive Whittier, CA 2
    • 3 beds 1 baths ∙ 1,333 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,333 Sqft ∙ Built 1954
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.80
    •  
  • 15537 Dittmar Drive Whittier, CA 3
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1955
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.91
    •  
PROPERTY LISTING DETAILS
Donald Jacks
Impact Properties, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21003301
Last Updated: 01/07/2021
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