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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $435.71
- 6 Days on Market
- MLS # : PW20261007
- Updated Date : 12/22/2020 at 06:49
CONSTRUCTION
- Beds : 3
- Floor Size : 1,627 sqft
- Baths : 2 full
Listing Agent
Re/max Diamond
Listing Agent's Description
Single Level Pool Home in the High in Demand City of Hacienda Heights! Lovely ranch style home w/Solar, Sparkling Pool & Great functional floor plan with 3 bedrooms & 2 bathrooms. Formal living room open up to the adjacent family room w/French door access to your large backyard. Elegantly remodeled galley kitchen w/granite countertop, custom cabinets & stainless steel appliances, kitchen opens up to dining nook. All 3 bedrooms are abundant in size & share 2 large remodeled baths. On top of it all, Backyard is an entertainer's delight w/Huge sparkling pool, gazebo & tons of space to entertain family & friends! Two car garage w/direct access & over-sized gated driveway for extra parking! More Great Features include; Indoor laundry room, ceiling fan in each bedroom, recessed lighting & much more! Centrally located near Great schools, shopping, parks, grocery stores, dining, entertainment & easy freeway commute! Don't miss the Once in a Lifetime Opportunity to call this HOME. This one will not last!
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MARKET HIGHLIGHTS
- 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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Hacienda Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hacienda Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,840 |
| EXPENSES | Loan Payment | -$2,616 |
| Property Tax | -$728 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$139 | |
|
CASH FLOW
-$709
|
||
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.
$708,900
PROJECTED PRICE
$2,840
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$193,609
LOAN DETAILS
$2,616
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $177,225 |
| Loan Amount | $531,675 |
1.58
YEARS SAVED
$7,697
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,840
LIST RENT -
$1.75
LIST RENT PER SQFT
-
$2,859
COMP ESTIMATED VALUE -
$1.76
COMP AVG. RENT PER SQFT
Comps Range
-
1826 Pontenova Avenue Hacienda Heights, CA 5
- 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1956
- Rent
- Rent Per SQFT
- $2,840
- $1.75
-
1926 Kellerton Drive La Puente, CA 1
- 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955
LEASED 09/28/20- Rent
- Rent Per SQFT
- $2,650
- $1.66
-
16001 La Monde Street Hacienda Heights, CA 2
- 3 beds 1 baths ∙ 1,429 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,429 Sqft ∙ Built 1968
LEASED 09/21/20- Rent
- Rent Per SQFT
- $2,650
- $1.85
-
2051 Atlantida Drive Hacienda Heights, CA 3
- 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1963
LEASED 10/14/20- Rent
- Rent Per SQFT
- $2,750
- $1.72
-
1920 Olympus Avenue Hacienda Heights, CA 4
- 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956
LEASED 02/14/20- Rent
- Rent Per SQFT
- $2,800
- $1.80
PROPERTY LISTING DETAILS
Re/max Diamond
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20261007
Last Updated: 12/22/2020
