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PROPERTY INFO
FACTS
- Built In 1952
- Price/Sqft : $562.95
- 5 Days on Market
- MLS # : PW20229297
- Updated Date : 11/02/2020 at 20:12
CONSTRUCTION
- Beds : 3
- Floor Size : 977 sqft
- Baths : 1 full
Listing Agent
Home Smart Realty Group
Listing Agent's Description
Great area of Whittier for first time buyers. Neighborhood has sidewalks for walking kids and pets on a tree lined street. Property has great curb appeal with a large driveway and large front yard. Lots of space outside with large patio for family gatherings in back of property. A/C unit was installed brand new in 2013. Very family oriented neighborhood.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Whittier
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,300 |
| EXPENSES | Loan Payment | -$2,029 |
| Property Tax | -$579 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$113 | |
|
CASH FLOW
-$471
|
||
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.
$550,000
PROJECTED PRICE
$2,300
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,500
LOAN DETAILS
$2,029
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
2.17
YEARS SAVED
$9,716
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,300
LIST RENT -
$2.35
LIST RENT PER SQFT
-
$2,027
COMP ESTIMATED VALUE -
$2.08
COMP AVG. RENT PER SQFT
Comps Range
-
14547 Cullen Street Whittier, CA 2
- 3 beds 1 baths ∙ 977 Sqft ∙ Built 1952 3 beds 1 baths ∙ 977 Sqft ∙ Built 1952
![property image]()
- Rent
- Rent Per SQFT
- $2,300
- $2.35
-
15133 Starbuck Street Whittier, CA 1
- 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1951
![property image]()
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
![property image]()
LEASED 09/09/19- Rent
- Rent Per SQFT
- $2,500
- $2.06
PROPERTY LISTING DETAILS
Home Smart Realty Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20229297
Last Updated: 11/02/2020
