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15569 Binney Street Hacienda Heights, CA 91745

3 Beds 2 Baths 1,507 sqft Built 1950

$549,999

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $364.96
  • 5 Days on Market
  • MLS # : CV20233691
  • Updated Date : 11/20/2020 at 16:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,507 sqft
  • Baths : 2 full
Listing Agent

Ambassador Real Estate & Financial

Listing Agent's Description

Charming 3 Bdr & 2 Ba home on cul-de-sac. 1,507 Sq.Ft. of living space complete with laminate floored dining rm, tiled kitchen w/Oak cabinets, small breeze way (could be Laundry rm) & step down family room w/2 ceiling fans & glass slider out to back yard. 2 Baths have pedestal sinks, 1 in Bdr and the other shared by two other Bdr's. Separate 2-car detached garage & gated large yard in back on 8,379 Sq Ft. lot. Quaint & desirable just waiting for your family.... Permits have 327 SqFt. extra, Byr to verify.

SEE MORE

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: 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
Kwis Elementary School Primary Regular 326 12 5
Newton Middle School Middle Regular 549 23 7
Los Altos High School High Regular 2,061 75 7

Kwis Elementary School

  • Education Level: Primary
  • # of students: 326
  • # of teachers: 12
5
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
 

$494,999$604,999$549,999

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$2,029
Property Tax -$617
Property Insurance -$71
Property Management Fees -$139
CASH FLOW
-$26

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.

$549,999

PROJECTED PRICE

$2,830

PROJECTED RENT

0.51%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,499
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$48,797

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $1.54

    LIST RENT PER SQFT
  • $3,200

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7503$2,8004$2,8305$3,200
$3,200
RENT COMPS ANALYSIS
  • 15569 Binney Street Hacienda Heights, CA 4
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $1.54
    •  
  • 1926 Kellerton Drive La Puente, CA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.66
    •  
  • 2051 Atlantida Drive Hacienda Heights, CA 2
    • 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1963
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.72
    •  
  • 1920 Olympus Avenue Hacienda Heights, CA 3
    • 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.80
    •  
  • 1908 Angelcrest Drive Hacienda Heights, CA 5
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1961
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.80
    •  
PROPERTY LISTING DETAILS
Eva Grijalva
Ambassador Real Estate & Financial
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20233691
Last Updated: 11/20/2020
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