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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $322.27
- 3 Days on Market
- MLS # : DW20243749
- Updated Date : 11/21/2020 at 11:22
CONSTRUCTION
- Beds : 4
- Floor Size : 2,169 sqft
- Baths : 3 full
Listing Agent
Royalty Realty Investments
Listing Agent's Description
Stop by and see your new home! This 4 bedroom 3 bathroom home is perfect for a growing family. Its located in a very desirable area of Whittier and is only a 5 minute drive from Whittwood Town Center. Property has been recently renovated and has new carpet in bedrooms, new flooring throughout the home and freshly painted inside and out, all it needs is your personal touch. Kitchen has plenty of cabinetry and beautiful Quartz countertops. The kitchen's island extends to the living room which makes for perfect entertaining. The living room has a fireplace and nice sliding doors to the backyard. Sitting on a large lot, this property is great for entertaining. There is plenty of room in the backyard for outdoor fire pit and sitting area. This home also has plenty of parking--including RV parking.
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MARKET HIGHLIGHTS
- 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)
- 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)
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 | $3,410 |
| EXPENSES | Loan Payment | -$2,579 |
| Property Tax | -$733 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$167 | |
|
CASH FLOW
-$149
|
||
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.
$699,000
PROJECTED PRICE
$3,410
PROJECTED RENT
0.49%
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
$190,985
LOAN DETAILS
$2,579
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $174,750 |
| Loan Amount | $524,250 |
5.58
YEARS SAVED
$50,624
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,410
LIST RENT -
$1.57
LIST RENT PER SQFT
-
$3,720
COMP ESTIMATED VALUE -
$1.72
COMP AVG. RENT PER SQFT
Comps Range
-
15373 Goodhue Street Whittier, CA 3
- 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1955 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 1955
- Rent
- Rent Per SQFT
- $3,410
- $1.57
-
12602 Burgess Avenue La Mirada, CA 1
- 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1958
LEASED 07/28/20- Rent
- Rent Per SQFT
- $2,945
- $1.58
-
15208 Cullen Street Whittier, CA 2
- 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1952
LEASED 11/12/20- Rent
- Rent Per SQFT
- $3,400
- $1.82
-
15008 Chalco Street La Mirada, CA 4
- 5 beds 3 baths ∙ 2,017 Sqft ∙ Built 1958 5 beds 3 baths ∙ 2,017 Sqft ∙ Built 1958
LEASED 07/01/20- Rent
- Rent Per SQFT
- $3,500
- $1.74
-
9636 La Cima Drive Whittier, CA 5
- 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1953 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1953
LEASED 03/25/20- Rent
- Rent Per SQFT
- $4,200
- $1.72
PROPERTY LISTING DETAILS
Royalty Realty Investments
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: DW20243749
Last Updated: 11/21/2020
