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PROPERTY INFO
FACTS
- Single Family
- Built In 1961
- Price/Sqft : $462.13
- 8 Days on Market
- MLS # : SW20245107
- Updated Date : 11/27/2020 at 15:04
CONSTRUCTION
- Beds : 4
- Floor Size : 1,426 sqft
- Baths : 2 full
Listing Agent
Better Homes And Gardens Real Estate Registry
Listing Agent's Description
Amazing opportunity to own this darling 4 bedroom, 2 bath, 2 car garage home located in the highly desirable area of La Habra. Same owner for over 50 years. Kitchen is nicely updated with white cabinetry, several cabinets have decorative glass inserts, brushed nickel pulls, granite countertops, stainless steel sink, faucet and stainless steel appliances. Kitchen opens to the dining room and family room. The master suite bathroom has been updated with a walk-in tile shower with decorative glass mosaic tiles and glass door. The secondary bathroom has been upgraded to a tub/ shower combo with glass doors, and upgraded tile, white cabinets and granite countertops. Tile and Wood Parquet flooring in the common areas and carpet in the bedrooms. Home has upgraded vinyl dual pane windows, ceiling fans, alarm system, rain gutters, recessed/ updated lighting, and roll up garage door. Peaceful backyard with brick patio and fully landscaped with fruit trees, shrubs, and grass. The home is centrally located with easy access to several major highways. Close to schools and shopping centers. Don't miss your chance to own this wonderful home located in a great neighborhood. *Professional photos coming soon*
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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 | -$2,431 |
| Property Tax | -$692 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$130 | |
|
CASH FLOW
-$665
|
||
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.
$659,000
PROJECTED PRICE
$2,650
PROJECTED RENT
0.40%
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
$180,385
LOAN DETAILS
$2,431
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $164,750 |
| Loan Amount | $494,250 |
1.33
YEARS SAVED
$5,234
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 -
$1.86
LIST RENT PER SQFT
-
$2,717
COMP ESTIMATED VALUE -
$1.9
COMP AVG. RENT PER SQFT
Comps Range
-
1910 E Stearns Avenue La Habra, CA 3
- 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1961
- Rent
- Rent Per SQFT
- $2,650
- $1.86
-
512 Breezewood Court Brea, CA 1
- 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974
LEASED 06/26/20- Rent
- Rent Per SQFT
- $2,400
- $1.84
-
1781 Pennywood Court Brea, CA 2
- 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974
LEASED 07/30/20- Rent
- Rent Per SQFT
- $2,450
- $1.88
-
530 Gerry Street La Habra, CA 4
- 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1956
LEASED 04/16/20- Rent
- Rent Per SQFT
- $2,800
- $2.02
-
431 Sonora Place La Habra, CA 5
- 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1957 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1957
LEASED 05/11/20- Rent
- Rent Per SQFT
- $2,850
- $1.88
PROPERTY LISTING DETAILS
Better Homes And Gardens Real Estate Registry
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20245107
Last Updated: 11/27/2020
