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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hacienda Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$169,520
LOAN DETAILS
$2,147
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $154,500 |
| Loan Amount | $463,500 |
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
-
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
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21027181
Last Updated: 02/11/2021
