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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South Whittier
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$184,625
LOAN DETAILS
$2,345
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $168,750 |
| Loan Amount | $506,250 |
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
-
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
Centerpointe Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20244761
Last Updated: 12/11/2020
