Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

14619 Lanning Drive Whittier, CA 90604

3 Beds 2 Baths 1,692 sqft Built 1953

$630,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1953
  • Price/Sqft : $372.34
  • 5 Days on Market
  • MLS # : CV20231284
  • Updated Date : 11/04/2020 at 10:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,692 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max Masters Realty

Listing Agent's Description

Promising to impress and set along a quiet cul-de-sac, this much-loved and beautifully maintained home is being offered on the market for the first time in over 40 years. Every detail exudes character, from the original hardwood floors in the living room to the crown molding, large windows and on-trend recessed lighting. A cozy dining room awaits while easy-care laminate flooring flows underfoot and draws you into the generous family room, complete with a tall wood beam ceiling, skylights, and a fireplace with a decorative screen. The eat-in kitchen is ready for you to simply move in and cook up a storm on the 6-burner stove, while pull out drawers, walk-in pantry, built-in glass cabinets, and 25-bottle wine rack add to the appeal and functionality. All 3 bedrooms are good in size, have newer doors, and each has a ceiling fan. Plus, there are 2.5 baths, very clean and meticulously well-kept. The master bath has an additional linen closet. The expansive covered patio takes in views of the greenery over the private yard, and offers string lighting, a chiminea, water feature, stone walls, and sheds for additional storage. A dog run has been added to the side of the house for your furry friends. More impressive features include a newer one-year old roof, central air-conditioning and heat, a Ring doorbell, security flood lights, 220 electrical panel, and a newer garage door motor and keypad entry. This delightful home exemplifies pride-of-ownership and it could be all yours!

SEE MORE

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: 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
Orchard Dale Elementary School Primary Regular 620 27 6
Hillview Middle School Middle Regular 676 31 6
California High School High Regular 2,955 103 7

Orchard Dale Elementary School

  • Education Level: Primary
  • # of students: 620
  • # of teachers: 27
6
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
 

$567,000$693,000$630,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,324
Property Tax -$666
Property Insurance -$68
Property Management Fees -$134
CASH FLOW
-$452

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.

$630,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.43%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,500
Loan Amount $472,500
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$16,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $2,923

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7403$2,8004$2,9005$3,400
$3,400
RENT COMPS ANALYSIS
  • 14619 Lanning Drive Whittier, CA 2
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $1.62
    •  
  • 8649 Davista Drive Whittier, CA 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1950
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.66
    •  
  • 10518 Nashville Avenue Whittier, CA 3
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1950
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.70
    •  
  • 14857 Cedarsprings Drive Whittier, CA 4
    • 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1951 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1951
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.73
    •  
  • 15208 Cullen Street Whittier, CA 5
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1952
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.82
    •  
PROPERTY LISTING DETAILS
Bobbi Hernandez
Re/max Masters Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231284
Last Updated: 11/04/2020
BESbswy