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14606 Fairbury Street Hacienda Heights, CA 91745

3 Beds 2 Baths 1,317 sqft Built 1955

$565,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $429.01
  • 11 Days on Market
  • MLS # : WS20262411
  • Updated Date : 01/02/2021 at 07:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,317 sqft
  • Baths : 2 full
Listing Agent

Re/max Connect

Listing Agent's Description

Investors' Delight! Location Location Location! this 3 bed 2 bath One-level single-family house located conveniently close to Hwy 60 entrance, and offers Cul-De-Sac Peace & quiet. Property is close to: Ranch99, Costco, Superior Grocers, 168, GW Supermarkets, restaurants, In-N-Out, schools...etc. Additional extended living space on spacious 7366 sqft lot, this home needs TLC, it offers a great opportunity to add your own touch to it while gaining appreciation value. great for both owner-occupy or investor projects. Don't miss out on this Great Opportunity!

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MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15593697

* 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
Palm Elementary School Primary Regular 397 16 5
Orange Grove Middle School Middle Regular 503 22 5
Los Altos High School High Regular 2,061 75 7

Palm Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 16
5
GreatSchools Rating

Orange Grove Middle School

  • Education Level: Middle
  • # of students: 503
  • # of teachers: 22
5
GreatSchools Rating

Los Altos High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 75
7
GreatSchools Rating
 

$508,500$621,500$565,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,085
Property Tax -$591
Property Insurance -$59
Property Management Fees -$117
CASH FLOW
-$462

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.

$565,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $2,387

    COMP ESTIMATED VALUE
  • $1.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3803$2,3904$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 14606 Fairbury Street Hacienda Heights, CA 3
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.81
    •  
  • 14028 Prichard Street La Puente, CA 1
    • 4 beds 1 baths ∙ 1,245 Sqft ∙ Built 1955 4 beds 1 baths ∙ 1,245 Sqft ∙ Built 1955
    property image
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.77
    •  
  • 1126 S Nantes Avenue Hacienda Heights, CA 2
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1958
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.93
    •  
  • 15032 Denley Street Hacienda Heights, CA 4
    • 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1957
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.76
    •  
  • 15039 Binney Street Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1957
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.79
    •  
PROPERTY LISTING DETAILS
Mao Tseng
Re/max Connect
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20262411
Last Updated: 01/02/2021
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