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1628 Fieldgate Avenue Hacienda Heights, CA 91745

3 Beds 2 Baths 1,492 sqft Built 1961

$675,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $452.41
  • 6 Days on Market
  • MLS # : CV21049737
  • Updated Date : 03/12/2021 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,492 sqft
  • Baths : 2 full
Listing Agent

Homelife/platinum Realty

Listing Agent's Description

This charming home centrally located in the City of Hacienda Heights features 3 ample bedrooms and 2 baths, wood like tiled flooring throughout, an open floor plan concept which connects the living room and the dining area. The living room is spacious and has beautiful crown moulding. The kitchen features granite counters, maple colored cabinetry, glass tiled backsplash and stainless steel sink, stove and microwave. The master bedroom boasts a master bath and walk in closet. New Central air/heating system installed in 2019, This lovely home is situated on a corner lot and has a covered patio and a great yard for entertaining. Property is located 6 minutes to the 60 freeway and less than 20 miles from downtown Los Angeles.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)
  • 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)

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
Bixby Elementary School Primary Regular 303 13 5
Glen A. Wilson High School High Regular 1,616 64 9

Bixby Elementary School

  • Education Level: Primary
  • # of students: 303
  • # of teachers: 13
5
GreatSchools Rating

Glen A. Wilson High School

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

$607,500$742,500$675,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,345
Property Tax -$706
Property Insurance -$63
Property Management Fees -$117
CASH FLOW
-$840

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.

$675,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.35%

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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $2,659

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,6003$2,6004$2,7505$3,000
$3,000
RENT COMPS ANALYSIS
  • 1628 Fieldgate Avenue Hacienda Heights, CA 1
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.60
    •  
  • 2141 Elderway Drive Hacienda Heights, CA 2
    • 3 beds 1 baths ∙ 1,405 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,405 Sqft ∙ Built 1972
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.85
    •  
  • 16555 Flower Glen Dr. Hacienda Heights, CA 3
    • 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.65
    •  
  • 2051 Atlantida Drive Hacienda Heights, CA 4
    • 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1963
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.72
    •  
  • 16595 Old Forest Road Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971
    property image
    LEASED 02/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.91
    •  
PROPERTY LISTING DETAILS
Irene Lopez
Homelife/platinum Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21049737
Last Updated: 03/12/2021
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