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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 90631
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$174,820
LOAN DETAILS
$2,354
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $159,500 |
| Loan Amount | $478,500 |
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
-
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
Berkshire Hathaway Home Srvcs
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR20246490
Last Updated: 11/27/2020
