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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $491.10
- 2 Days on Market
- MLS # : PW20260300
- Updated Date : 12/19/2020 at 09:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,242 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Alliance
Listing Agent's Description
Huge flat lot with endless possibilites! This three bedroom two bath home comes complete with a fireplace, central air conditioning, a large enclosed patio, newer roof and some dual paned windows. There is automated sprinklers in the front and rear of the home and lots and lots of parking including a two car detached garage. The huge driveway and parking areas are all concrete. The backyard has a permitted storage shed along with other smaller storage sheds and a mature orange tree loaded with fruit. Don't miss this home with endless potential!
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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: 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 | $2,350 |
| EXPENSES | Loan Payment | -$2,250 |
| Property Tax | -$638 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$115 | |
|
CASH FLOW
-$710
|
||
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.
$609,950
PROJECTED PRICE
$2,350
PROJECTED RENT
0.39%
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
$167,387
LOAN DETAILS
$2,250
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $152,488 |
| Loan Amount | $457,463 |
1
YEARS SAVED
$2,904
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,350
LIST RENT -
$1.89
LIST RENT PER SQFT
-
$2,335
COMP ESTIMATED VALUE -
$1.88
COMP AVG. RENT PER SQFT
Comps Range
-
1864 Craighton Avenue Hacienda Heights, CA 1
- 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1955
![property image]()
- Rent
- Rent Per SQFT
- $2,350
- $1.89
-
2141 Elderway Drive Hacienda Heights, CA 2
- 3 beds 1 baths ∙ 1,405 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,405 Sqft ∙ Built 1972
![property image]()
LEASED 09/27/20- Rent
- Rent Per SQFT
- $2,600
- $1.85
-
2706 Kiska Avenue Hacienda Heights, CA 3
- 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1962
![property image]()
LEASED 02/08/20- Rent
- Rent Per SQFT
- $2,600
- $1.90
-
16001 La Monde Street Hacienda Heights, CA 4
- 3 beds 1 baths ∙ 1,429 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,429 Sqft ∙ Built 1968
![property image]()
LEASED 09/21/20- Rent
- Rent Per SQFT
- $2,650
- $1.85
-
2126 Country Canyon Road Hacienda Heights, CA 5
- 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1972
![property image]()
LEASED 12/01/20- Rent
- Rent Per SQFT
- $2,700
- $1.92
PROPERTY LISTING DETAILS
Coldwell Banker Alliance
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20260300
Last Updated: 12/19/2020
