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15914 Lashburn Street Whittier, CA 90603

3 Beds 2 Baths 1,898 sqft Built 1956

$749,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $394.63
  • 5 Days on Market
  • MLS # : PW21025935
  • Updated Date : 02/10/2021 at 19:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,898 sqft
  • Baths : 2 full
Listing Agent

Century 21 Award

Listing Agent's Description

Calling all buyers who are ready to FALL IN LOVE this Valentine's Day weekend with their new home! You'll be charmed from the front steps as you see a lovely covered porch with room for seating and gardening. Inside you'll find nearly 1,900 sq. ft. of living space including three bedrooms and two bathrooms. The beautiful, large and open kitchen has oodles of storage and entertaining space, along with a desk area perfect for working from home. There's built in banquette seating plus an island plus a large space for a long family table! Wow! Off the kitchen and dining area is a extra large family room with vaulted ceilings, a fireplace and french doors. A more formal family room is close by with a fireplace, as well. This house features hardwood floors throughout. The bathrooms have both recently been updated with new vanities, title and fixtures. The backyard is lovely for hosting parties with a covered patio and BBQ area. Found in a very desirable East Whittier neighborhood near the Whittwood shopping mall, excellent East Whittier City School District schools and convenient to many Whittier favorites, you and your Valentine will be enamored with this beautiful home! The real estate market has been struck by Cupid's arrow so don't miss out on scheduling your appointment TODAY! This house is really the one you've been waiting for. Bring your

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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: Whittier

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Whittier

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492941

* 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
Leffingwell Elementary School Primary Regular 652 25 10
Granada Middle School Middle Regular 1,087 41 8
La Serna High School High Regular 2,940 100 9

Leffingwell Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 25
10
GreatSchools Rating

Granada Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 41
8
GreatSchools Rating

La Serna High School

  • Education Level: High
  • # of students: 2,940
  • # of teachers: 100
9
GreatSchools Rating
 

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

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,602
Property Tax -$783
Property Insurance -$73
Property Management Fees -$152
CASH FLOW
-$509

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

$3,100

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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 60% 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

2.67

YEARS SAVED

$15,847

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $3,132

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,7503$3,0004$3,0505$3,100
$3,100
RENT COMPS ANALYSIS
  • 15914 Lashburn Street Whittier, CA 5
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.63
    •  
  • 15908 Santa Fe Street Whittier, CA 1
    • 4 beds 1 baths ∙ 1,548 Sqft ∙ Built 1956 4 beds 1 baths ∙ 1,548 Sqft ∙ Built 1956
    property image
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.65
    •  
  • 15744 Marlinton Drive Whittier, CA 2
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1961
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.54
    •  
  • 430 Kinley Street La Habra, CA 3
    • 3 beds 1 baths ∙ 1,757 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,757 Sqft ∙ Built 1962
    property image
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.71
    •  
  • 10714 Avonbury Avenue Whittier, CA 4
    • 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1953 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1953
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.70
    •  
PROPERTY LISTING DETAILS
Rebecca Kearney
Century 21 Award
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21025935
Last Updated: 02/10/2021
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