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15436 Circle Ridge Lane Hacienda Heights, CA 91745

3 Beds 2 Baths 1,949 sqft Built 1976

$749,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $384.30
  • 7 Days on Market
  • MLS # : PW21004577
  • Updated Date : 01/12/2021 at 12:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,949 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Alliance

Listing Agent's Description

Well located gated community nestled in the Avocado Groves of Hacienda Heights. Community tennis courts, pool and spa are available for outdoor recreation. On the interior of the unit there are newer wide plank laminate flooring in the entertainment spaces of the first level. The bedroom spaces are all carpeted. This model is known for its light, open floor plan,vaulted ceiling & views down the valley. The master is at the entry level. The two additional bedrooms & den are in the lower level, with exit doors to the yard, a full bath, laundry room and access to two large storage areas....not used for living space. These spaces were used as a tool/workshop room and additional storage area. There is a kitchen skylight which adds to the natural light of the windows. Schools, shopping and transportation are all close by. Patio decking has been replaced over the years, and lends to creating indoor/outdoor entertaining opportunities.

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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
Los Molinos Elementary School Primary Regular 397 15 10
Newton Middle School Middle Regular 549 23 7
Los Altos High School High Regular 2,061 75 7

Los Molinos Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 15
10
GreatSchools Rating

Newton Middle School

  • Education Level: Middle
  • # of students: 549
  • # of teachers: 23
7
GreatSchools Rating

Los Altos High School

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

$674,100$823,900$749,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,602
Property Tax -$781
Property Insurance -$74
HOA -$247
Property Management Fees -$147
CASH FLOW
-$860

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.

$749,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

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$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $3,016

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$2,9904$2,9905$3,000
$3,000
RENT COMPS ANALYSIS
  • 15436 Circle Ridge Lane Hacienda Heights, CA 4
    • 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.53
    •  
  • 15056 Pintura Drive Hacienda Heights, CA 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1963
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.56
    •  
  • 2904 Adelita Drive Hacienda Heights, CA 2
    • 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 1960
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.60
    •  
  • 2843 Rio Claro Drive Hacienda Heights, CA 3
    • 4 beds 2 baths ∙ 1,916 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,916 Sqft ∙ Built 1963
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.56
    •  
  • 2825 Managua Place Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1961
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.47
    •  
PROPERTY LISTING DETAILS
Marsha Keeney
Coldwell Banker Alliance
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21004577
Last Updated: 01/12/2021
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