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14331 Mulberry Drive Whittier, CA 90604

3 Beds 1 Baths 1,306 sqft Built 1953

$585,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $447.93
  • 3 Days on Market
  • MLS # : PW20250896
  • Updated Date : 12/05/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,306 sqft
  • Baths : 1 full
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Enjoy the Whittier lifestyle in this Pool Home with 3 bedrooms, 1 bath home. Beautifully kept the single-story house with an updated kitchen and stainless steel appliances. Lots of cabinetry space and extra room to enjoy indoor dining. The kitchen space opens to a spacious dining area which leads out to the private backyard with a pool, patio area, and a separate grassy area including a covered sitting area. 2 car garage with an extra-long driveway could fit several cars, possible RV parking or a game of basketball in your own driveway. Located near shopping centers including local supermarkets, minutes from Candlewood Country Club, Target, and Costco! This home will sell fast!

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
Mulberry Elementary School Primary Regular 620 25 7
Hillview Middle School Middle Regular 676 31 6
California High School High Regular 2,955 103 7

Mulberry Elementary School

  • Education Level: Primary
  • # of students: 620
  • # of teachers: 25
7
GreatSchools Rating

Hillview Middle School

  • Education Level: Middle
  • # of students: 676
  • # of teachers: 31
6
GreatSchools Rating

California High School

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

$526,500$643,500$585,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$2,158
Property Tax -$624
Property Insurance -$59
Property Management Fees -$132
CASH FLOW
-$283

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.

$585,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.46%

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-$5.0k$0.0$5.0k$10k$15k$20k

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$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$26,253

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $2,419

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,6903$2,7004$2,8005$2,900
$2,900
RENT COMPS ANALYSIS
  • 14331 Mulberry Drive Whittier, CA 2
    • 3 beds 1 baths ∙ 1,306 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,306 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $2.06
    •  
  • 10611 La Alba Drive Whittier, CA 1
    • 3 beds 1 baths ∙ 1,333 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,333 Sqft ∙ Built 1954
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.80
    •  
  • 15039 Goodhue Street Whittier, CA 3
    • 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1955
    property image
    LEASED 02/07/20
    • 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
    •  
  • 11734 Broadfield Drive La Mirada, CA 5
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1958
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.82
    •  
PROPERTY LISTING DETAILS
Jannet Garcia
Big Block Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20250896
Last Updated: 12/05/2020
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