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15904 Rumson Street Hacienda Heights, CA 91745

3 Beds 2 Baths 1,644 sqft Built 1958

$618,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $375.91
  • 5 Days on Market
  • MLS # : PW21027181
  • Updated Date : 02/11/2021 at 09:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,644 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This charming, single-story 3 bedroom, 2 bathroom home is located in a desirable Hacienda Heights neighborhood! Great opportunity for first-time buyer. Located on a spacious corner lot, the home features approximately 1,644 sq. ft of living space and a lot size of 8,345 sq. ft. and includes a living room with cozy fireplace, kitchen with adjacent eating area and 3 ample-sized bedrooms. The master bedroom has its own bathroom with shower. There is also a bonus room that can be used as a 4th bedroom or den. An attached 2-car garage and quiet cul-de-sac location makes this the perfect place to call home. Step outside to your serene backyard retreat, including a covered patio and a sparkling pool to cool off in! Conveniently located near shopping, schools and transportation, this is truly a magnificent value you simply cannot pass up! WON'T LAST!! PLEASE NOTE - DO NOT DISTURB OCCUPANTS OR ENTER ONTO PROPERTY!! DRIVE-BY ONLY!

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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: 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
Glen A. Wilson High School High Regular 1,616 64 9

Glen A. Wilson High School

  • Education Level: High
  • # of students: 1,616
  • # of teachers: 64
9
GreatSchools Rating
 

$556,200$679,800$618,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,147
Property Tax -$649
Property Insurance -$67
Property Management Fees -$128
CASH FLOW
-$371

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.

$618,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.42%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,520

INVESTMENT

$169,520

Down Payment
$154,500
Rehab Estimate
$5,750
Closing Costs
$9,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,147

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $154,500
Loan Amount $463,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$16,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $2,856

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,620
1$2,6202$2,6503$2,7504$2,8005$2,900
$2,900
RENT COMPS ANALYSIS
  • 15904 Rumson Street Hacienda Heights, CA 1
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $1.59
    •  
  • 1926 Kellerton Drive La Puente, CA 2
    • 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 3
    • 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 4
    • 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
    •  
  • 1946 Deerpeak Drive Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1977
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.77
    •  
PROPERTY LISTING DETAILS
Linda Pennino
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21027181
Last Updated: 02/11/2021
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