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14620 Placid Drive Whittier, CA 90604

3 Beds 1 Baths 1,204 sqft Built 1956

$675,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $560.63
  • 51 Days on Market
  • MLS # : PW20244761
  • Updated Date : 12/11/2020 at 12:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,204 sqft
  • Baths : 1 full
Listing Agent

Centerpointe Real Estate

Listing Agent's Description

Home sweet home in beautiful Whittier! Charming 3 bedroom 2 bath single story home located within the desirable Norwalk - La Mirada School District. This property is located in a great family neighborhood conveniently located just blocks from shopping and dining at the Whitwood Town Center. This property features a nice size living/dining room, charming kitchen w/ Dishwasher. NEW lifetime exterior paint, just done a few months ago. NEW 50 year roof, also done just a few months ago.NEW HVAC system keep the home cozy in the coming winter months.New Energy Efficient Windows,Huge GREAT ROOM added on that would be a wonderful media room or huge Master suite and adds over 400 + sqft.Fall in love with the city light views from the rear yard looking over the surrounding neighborhood. Automatic sprinklers in front & rear yard. Also on the side of the home is an EXTRA large shed for tons of storage.Plus a NEW Tuff Shed that will stay with the home. Opposite side has a long storage / work area that could be a nice hobby or man cave space.Large 2 car garage with ample driveway parking. This property is just waiting for the right family to come and make it their own. Hurry this home wont last!

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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: 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
John Foster Dulles Elementary School Primary Regular 259 11 7
Reginald M. Benton Middle School Middle Regular 527 22 4
La Mirada High School High Regular 2,145 86 6

John Foster Dulles Elementary School

  • Education Level: Primary
  • # of students: 259
  • # of teachers: 11
7
GreatSchools Rating

Reginald M. Benton Middle School

  • Education Level: Middle
  • # of students: 527
  • # of teachers: 22
4
GreatSchools Rating

La Mirada High School

  • Education Level: High
  • # of students: 2,145
  • # of teachers: 86
6
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$2,345
Property Tax -$751
Property Insurance -$56
Property Management Fees -$114
CASH FLOW
-$946

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.

$675,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.34%

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

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.93

    LIST RENT PER SQFT
  • $2,327

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,5953$2,6004$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 14620 Placid Drive Whittier, CA 1
    • 3 beds 1 baths ∙ 1,204 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,204 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.93
    •  
  • 15056 Greenworth Drive La Mirada, CA 2
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1958
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.97
    •  
  • 14639 Mansa Drive La Mirada, CA 3
    • 3 beds 1 baths ∙ 1,320 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,320 Sqft ∙ Built 1956
    property image
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.97
    •  
  • 14879 Fairvilla Drive La Mirada, CA 4
    • 3 beds 1 baths ∙ 1,445 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,445 Sqft ∙ Built 1958
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.87
    •  
  • 14417 Allegan Street Whittier, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Rafe Gonzalez
Centerpointe Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20244761
Last Updated: 12/11/2020
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