Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

16408 Rushford Street Whittier, CA 90603

3 Beds 2 Baths 1,404 sqft Built 1959

$669,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $476.50
  • 2 Days on Market
  • MLS # : TR21005085
  • Updated Date : 01/09/2021 at 08:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homecoin.com

Listing Agent's Description

This 3 bedroom 2.5 bath single story home with attached two car garage is located on a quiet cul-de-sac in the desirable Lowell Joint School District and near plenty of entertainment and shopping.Upon entering the home you are greeted with refinished original oak flooring,leading into an open concept kitchen and dining area.The kitchen has been fully updated with a marble backsplash,quartz countertops,fresh cabinetry,and recessed lighting.The center island features room for bar seating beneath Edison light fixtures.A lovely breakfast nook is situated next to the kitchen with views of the backyard.Laundry room with half bath is located off the kitchen with a convenient pocket door feature.A modern fireplace is the centerpiece of the room,ready for cozy fires after professional cleaning this season.Custom roller shades are installed in each bedroom and the dining area.The master bedroom enjoys a private ensuite bathroom which features a custom quartz vanity and updated shower.The full bathroom located between the bedrooms boasts a custom quartz vanity and updated cabinetry.The backyard features a private,shady, and spacious yard with landscaping as a perfect outdoor entertaining space.Enjoy the custom insulated Alumawood patio cover that requires no painting maintenance.Patio also includes functional fans as well as an electrical outlet.Other updated features include HVAC and ducting, copper plumbing,windows,and 200 amp electrical panel.Washer and dryer not included in sale.

SEE MORE

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
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
 

$602,100$735,900$669,000

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 -$2,324
Property Tax -$670
Property Insurance -$61
Property Management Fees -$140
CASH FLOW
-$344

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.

$669,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.43%

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-$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$183,035

INVESTMENT

$183,035

Down Payment
$167,250
Rehab Estimate
$5,750
Closing Costs
$10,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,250
Loan Amount $501,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$21,669

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
  • $2.03

    LIST RENT PER SQFT
  • $2,864

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,8504$2,8505$3,200
$3,200
RENT COMPS ANALYSIS
  • 16408 Rushford Street Whittier, CA 4
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.03
    •  
  • 16120 Leffco Road Whittier, CA 1
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1953
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.04
    •  
  • 321 Painter Street La Habra, CA 2
    • 3 beds 1 baths ∙ 1,349 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,349 Sqft ∙ Built 1955
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.04
    •  
  • 910 Cedarwood Drive La Habra, CA 3
    • 4 beds 2 baths ∙ 1,407 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,407 Sqft ∙ Built 1958
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.03
    •  
  • 1860 Hillandale Avenue La Habra, CA 5
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1958
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.05
    •  
PROPERTY LISTING DETAILS
Jonathan Minerick
Homecoin.com
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21005085
Last Updated: 01/09/2021
BESbswy