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1943 Paso Verde Drive Hacienda Heights, CA 91745

3 Beds 2 Baths 1,720 sqft Built 1968

$659,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1968
  • Price/Sqft : $383.14
  • 8 Days on Market
  • MLS # : TR20227177
  • Updated Date : 10/29/2020 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

A + Realty & Mortgage

Listing Agent's Description

MAJOR FIXER-UPPER HOME IS SOLD AS IS NEED CASH BUYER

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15593697

* 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
Mesa Robles School Primary Regular 1,080 42 9
Mesa Robles School Middle Regular 1,080 42 9
Glen A. Wilson High School High Regular 1,616 64 9

Mesa Robles School

  • Education Level: Primary
  • # of students: 1,080
  • # of teachers: 42
9
GreatSchools Rating

Mesa Robles School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 42
9
GreatSchools Rating

Glen A. Wilson High School

  • Education Level: High
  • # of students: 1,616
  • # of teachers: 64
9
GreatSchools Rating
 

$593,100$724,900$659,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,431
Property Tax -$661
Property Insurance -$69
Property Management Fees -$132
CASH FLOW
-$593

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

$2,700

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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$180,385

INVESTMENT

$180,385

Down Payment
$164,750
Rehab Estimate
$5,750
Closing Costs
$9,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,750
Loan Amount $494,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$10,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $2,752

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,7004$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1943 Paso Verde Drive Hacienda Heights, CA 4
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.57
    •  
  • 16555 Flower Glen Dr. Hacienda Heights, CA 1
    • 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.65
    •  
  • 1612 Brougham Place Hacienda Heights, CA 2
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1987
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.54
    •  
  • 16336 Ladysmith Street Hacienda Heights, CA 3
    • 4 beds 2 baths ∙ 1,774 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,774 Sqft ∙ Built 1962
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.52
    •  
  • 1602 Coach Place Hacienda Heights, CA 5
    • 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 1987
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.69
    •  
PROPERTY LISTING DETAILS
Peter Iskander
A + Realty & Mortgage
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20227177
Last Updated: 10/29/2020
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