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1711 E Stearns Avenue La Habra, CA 90631

5 Beds 2 Baths 1,567 sqft Built 1957

$638,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $407.15
  • 4 Days on Market
  • MLS # : TR20246490
  • Updated Date : 11/27/2020 at 05:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,567 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Home Srvcs

Listing Agent's Description

Gorgeous, partially remodeled turkey 5 Bedrooms, 2 full Baths 1,567 sq. ft. house located in a highly desirable area of La Habra ! This house is beautifully landscaped with great curb appeal ! New roof just installed 1 year ago. Newly painted exterior and interior. Living room with recess lighting and AC unit. Laminated wood floor throughout the house. Crown molding at family room and master bedroom. Five modern ceiling fans in family room and all bedrooms. Upgraded kitchen with stone counter tops and tiles. Both bathrooms with new wall tiles, flooring, and vanities. Per assessor the property has 5 bedrooms. Currently it has 4 bedrooms as one bedroom was converted into the extension of living room. Master bedroom and family room have direct access to the backyard. Beautiful backyard with open patio, fire pit, artificial grass, and a fenced dog running area. 2-car attached garage. Convenient location close to schools and shopping centers.

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MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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]
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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

Zip Code: 90631

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $217k742k

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

Zip Code: 90631

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17143345

* 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
Sierra Vista Elementary School Primary Regular 532 20 5
Washington Middle School Middle Regular 854 33 4
Sonora High School High Regular 1,924 67 9

Sierra Vista Elementary School

  • Education Level: Primary
  • # of students: 532
  • # of teachers: 20
5
GreatSchools Rating

Washington Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 33
4
GreatSchools Rating

Sonora High School

  • Education Level: High
  • # of students: 1,924
  • # of teachers: 67
9
GreatSchools Rating
 

$574,200$701,800$638,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,354
Property Tax -$670
Property Insurance -$65
Property Management Fees -$130
CASH FLOW
-$569

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.

$638,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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-$10k-$5.0k$0.0$5.0k$10k$15k

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$174,820

INVESTMENT

$174,820

Down Payment
$159,500
Rehab Estimate
$5,750
Closing Costs
$9,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,354

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $159,500
Loan Amount $478,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.69

    LIST RENT PER SQFT
  • $2,836

    COMP ESTIMATED VALUE
  • $1.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6503$2,8504$2,9005$3,195
$3,195
RENT COMPS ANALYSIS
  • 1711 E Stearns Avenue La Habra, CA 2
    • 5 beds 2 baths ∙ 1,567 Sqft ∙ Built 1957 5 beds 2 baths ∙ 1,567 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.69
    •  
  • 1434 Carey Avenue Brea, CA 1
    • 4 beds 2 baths ∙ 1,398 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,398 Sqft ∙ Built 1960
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.82
    •  
  • 1823 Lotus Place Brea, CA 3
    • 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 1973
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.81
    •  
  • 1301 Wickford Drive Brea, CA 4
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1961
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.84
    •  
  • 1232 Tracie Drive Brea, CA 5
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.77
    •  
PROPERTY LISTING DETAILS
Vincent Yan
Berkshire Hathaway Home Srvcs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20246490
Last Updated: 11/27/2020
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