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14365 Carnell Street Whittier, CA 90603

3 Beds 1 Baths 1,012 sqft Built 1952

$662,800

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $654.94
  • 5 Days on Market
  • MLS # : OC21022479
  • Updated Date : 02/03/2021 at 10:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,012 sqft
  • Baths : 1 full
Listing Agent

Homelinq

Listing Agent's Description

TURN KEY!!! MOVE IN READY! Pristinely manicured home showing pride of ownership in the highly desirable East Whittier School District. Hardwood floors throughout the home coupled with fresh paint in & out create a warm and welcoming environment. The kitchen has been updated with granite countertops and built in dishwasher, remodeled bathroom, double-pane windows and decorative ceiling fans, blinds and curtains throughout. The insulated Quiet garage door encloses the finished 2 car garage with built-ins for plenty of storage. Dual powder coated access gates on both sides of the property leading to one of the LARGER lots in the neighborhood featuring a park-like backyard and Jacuzzi installed 2 years ago. Featuring a fire pit and oversized aluminum patio cover complement the extensive hardscape in the backyard for your get-togethers under the external ceiling fan. The under patio drainage system and dog run with 2 sets of built-in side gates. The 6’ block walls on three sides of the property make this a fully usable private space. Mechanical features are copper plumbing, ABS sewer line. A/C replacement in 2016. Find yourself at home on this beautifully historical tree lined street, only minutes from grocery shopping and the Whitewood Town Center.

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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: Whittier

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: Whittier

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492941

* 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
East Whittier Middle School Middle Regular 1,287 45 8
California High School High Regular 2,955 103 7

Mulberry Elementary School

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

East Whittier Middle School

  • Education Level: Middle
  • # of students: 1,287
  • # of teachers: 45
8
GreatSchools Rating

California High School

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

$596,520$729,080$662,800

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,302
Property Tax -$697
Property Insurance -$52
Property Management Fees -$118
CASH FLOW
-$769

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.

$662,800

PROJECTED PRICE

$2,400

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.2%
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$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$181,392

INVESTMENT

$181,392

Down Payment
$165,700
Rehab Estimate
$5,750
Closing Costs
$9,942

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $165,700
Loan Amount $497,100
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $2.37

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,5004$2,6505$2,800
$2,800
RENT COMPS ANALYSIS
  • 14365 Carnell Street Whittier, CA 2
    • 3 beds 1 baths ∙ 1,012 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,012 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.37
    •  
  • 15133 Starbuck Street Whittier, CA 1
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1951
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.09
    •  
  • 13213 Danbrook Drive Whittier, CA 3
    • 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1940
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.06
    •  
  • 15939 Lashburn Street Whittier, CA 4
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1956
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.96
    •  
  • 10303 Devillo Drive Whittier, CA 5
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1955
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.08
    •  
PROPERTY LISTING DETAILS
Scott Stockdale
Homelinq
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21022479
Last Updated: 02/03/2021
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