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16302 Lashburn Street Whittier, CA 90603

3 Beds 1 Baths 1,557 sqft Built 1955

$735,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $472.06
  • 3 Days on Market
  • MLS # : PW20237744
  • Updated Date : 11/21/2020 at 05:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,557 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Rlty Whittier

Listing Agent's Description

This home has been completely updated inside and out. Situated in a great Whittier neighborhood and in celebrated school districts, Lowell Joint and Fullerton Joint Union, you couldn't ask for a better value! Modern systems such as PAID OFF solar panels, a 200 amp electrical panel, tankless water heater, newer FAU/AC and ducting, copper plumbing, insulated walls, and a newer roof are accentuated by the newly remodeled kitchen and baths, vinyl plank flooring, recessed lighting, scraped ceilings, and walk-in master closet. The sparkling pool and spa are gated for safety and surrounded by a gracious backyard with a covered patio area and still more space to hang out and entertain. The 2-car detached garage is finished and behind secured driveway gates. The original floorplan was expanded by 235sqft in 1977 and looks like it has always belonged. Don't miss out on this beautiful home!

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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: 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
Jordan Elementary School Primary Regular 407 15 7
Rancho-starbuck Intermediate School Middle Regular 774 28 8
La Habra High School High Magnet 2,230 73 7

Jordan Elementary School

  • Education Level: Primary
  • # of students: 407
  • # of teachers: 15
7
GreatSchools Rating

Rancho-starbuck Intermediate School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 28
8
GreatSchools Rating

La Habra High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 73
7
GreatSchools Rating
 

$661,500$808,500$735,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,712
Property Tax -$728
Property Insurance -$65
Property Management Fees -$140
CASH FLOW
-$795

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.

$735,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.39%

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

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$200,525

INVESTMENT

$200,525

Down Payment
$183,750
Rehab Estimate
$5,750
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,712

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$6,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $2,892

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,8503$2,9004$3,0005$3,300
$3,300
RENT COMPS ANALYSIS
  • 16302 Lashburn Street Whittier, CA 2
    • 3 beds 1 baths ∙ 1,557 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,557 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.83
    •  
  • 2121 Baja Ave. La Habra, CA 1
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1958
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.76
    •  
  • 10847 Lindesmith Avenue Whittier, CA 3
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1955
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.75
    •  
  • 10451 Portada Drive Whittier, CA 4
    • 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1955
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.95
    •  
  • 11711 Grovedale Drive Whittier, CA 5
    • 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 1960
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.97
    •  
PROPERTY LISTING DETAILS
Christine Kennedy
Keller Williams Rlty Whittier
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20237744
Last Updated: 11/21/2020
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