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2118 Elderway Drive Hacienda Heights, CA 91745

5 Beds 3 Baths 2,289 sqft Built 1972

$830,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $362.60
  • 6 Days on Market
  • MLS # : SB21012090
  • Updated Date : 01/20/2021 at 10:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,289 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This turn - key 5 bedroom, 3 bath home has room for everyone. When you walk in you are greeted by vaulted ceilings and a gas fireplace in the formal living room. On the first level you will find the kitchen with ample storage, including a pantry. The kitchen is open to the family room which is surrounded by windows overlooking the well maintained back yard. Down the hallway you will find 3 bedrooms, including the master suite and a large guest bathroom. Upstairs you walk into a spacious loft with mountain views. Here you find the additional 2 bedrooms and 1 bathroom. The back yard boasts a large covered patio, grass area and grapefruit trees. The generously sized two car garage has washer dryer hook ups and built in storage. This home was recently updated with custom window treatments, fresh paint, downstairs carpet, new bathroom tile and light fixtures.

SEE MORE

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

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
Cedarlane Academy Primary Regular 543 25 6
Cedarlane Academy Middle Regular 543 25 6
Glen A. Wilson High School High Regular 1,616 64 9

Cedarlane Academy

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 25
6
GreatSchools Rating

Cedarlane Academy

  • Education Level: Middle
  • # of students: 543
  • # of teachers: 25
6
GreatSchools Rating

Glen A. Wilson High School

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

$747,000$913,000$830,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,883
Property Tax -$857
Property Insurance -$82
Property Management Fees -$151
CASH FLOW
-$893

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.

$830,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.37%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,700

INVESTMENT

$225,700

Down Payment
$207,500
Rehab Estimate
$5,750
Closing Costs
$12,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,883

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $207,500
Loan Amount $622,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,677

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $3,296

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0003$3,0004$3,0805$3,300
$3,300
RENT COMPS ANALYSIS
  • 2118 Elderway Drive Hacienda Heights, CA 4
    • 5 beds 3 baths ∙ 2,289 Sqft ∙ Built 1972 5 beds 3 baths ∙ 2,289 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $1.35
    •  
  • 1940 Delmesa Avenue Hacienda Heights, CA 1
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1977
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.48
    •  
  • 2219 Moon View Drive Hacienda Heights, CA 2
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1978
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.36
    •  
  • 17171 Royal View Road Hacienda Heights, CA 3
    • 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 1983
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.43
    •  
  • 2238 Wormwood Drive Hacienda Heights, CA 5
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1978
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.49
    •  
PROPERTY LISTING DETAILS
Laura Avila
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21012090
Last Updated: 01/20/2021
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