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2215 Fallen Drive Rowland Heights, CA 91748

3 Beds 2 Baths 1,851 sqft Built 1979

$799,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $431.66
  • 4 Days on Market
  • MLS # : SB21018967
  • Updated Date : 01/28/2021 at 22:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,851 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Palos Verdes

Listing Agent's Description

VIEW! VIEW! VIEW! Beautifully remodeled well maintained single level house with gorgeous CITY LIGHTS & MOUNTAIN VIEWS! Sitting on a hilltop from the most desirable street in Rowland Heights, enjoy the views of the sparkling city lights and snow capped mountains during the winter from the living room, dining room, kitchen and family room! Double entry doors lead into the open and spacious family and living room with vaulted ceilings. Open and spacious rooms with laminate flooring and double paned windows are all throughout the home. A gourmet kitchen with oak cabinets and granite counter tops opens to a large separate family room with a fireplace. A master suite with high ceiling. A master bathroom with a separate toilet room and a dual vanity. There is a large bonus room with plenty of sunlight overlooking the backyard and mountains for a perfect study/office area or playroom which is not included in the sq ft of the home. A large flat backyard with spacious covered patio and the nice views of the city lights and mountains. Very convenient location with easy access to shopping/restaurants and the 60 fwy.

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MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $187k690k

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

Neighborhood: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001700180019002000210022002300240025002600270028002900Rent in $15582941

* 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
Alvarado Intermediate School Middle Regular 750 30 7
John A. Rowland High School High Regular 2,329 87 8

Alvarado Intermediate School

  • Education Level: Middle
  • # of students: 750
  • # of teachers: 30
7
GreatSchools Rating

John A. Rowland High School

  • Education Level: High
  • # of students: 2,329
  • # of teachers: 87
8
GreatSchools Rating
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,775
Property Tax -$835
Property Insurance -$72
Property Management Fees -$135
CASH FLOW
-$1,067

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.

$799,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$429

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,929

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,8503$3,1004$3,1005$3,250
$3,250
RENT COMPS ANALYSIS
  • 2215 Fallen Drive Rowland Heights, CA 1
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.49
    •  
  • 2233 Maystone Place Rowland Heights, CA 2
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1969
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.61
    •  
  • 2003 Avenida Del Canada Rowland Heights, CA 3
    • 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 1988
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.53
    •  
  • 17012 Kirk View Dr Hacienda Heights, CA 4
    • 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 1984
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.60
    •  
  • 17764 La Pasaita Court Rowland Heights, CA 5
    • 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1986
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.59
    •  
PROPERTY LISTING DETAILS
Ann Kim
Keller Williams Palos Verdes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21018967
Last Updated: 01/28/2021
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