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231 La Plaza Drive La Habra, CA 90631

3 Beds 1 Baths 1,264 sqft Built 1956

$635,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $502.37
  • 5 Days on Market
  • MLS # : PW21059494
  • Updated Date : 03/24/2021 at 14:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,264 sqft
  • Baths : 1 full
Listing Agent

The Brokeredge

Listing Agent's Description

Located in the Lowell Unified school district and placed on a quaint residential street walking distance to La Bonita Park, this charming single family home has it all. Upon entry are beautifully recently (2020) refinished hardwood floors that cover the main living area, accented by a brick fireplace and large glass sliders. Off the main living room is a permitted sunroom currently being used as a playroom with access to the backyard. The separate kitchen and dining room provide for intimate dinners with plenty of cabinet space and windows overlooking part of the yard area. Adjacent to the kitchen is an indoor laundry with more storage space and access to a remodeled bathroom with standup shower. The standup shower is accessible from the laundry room and guest bedroom which can also be used as a master suite. The two bedrooms down the hallway have newer carpet and the hall bathroom is recently remodeled with a tub/shower combo. There is a two car garage and plenty of parking in the driveway. The yard is spacious and surrounded by block fences. Many major improvements have been made to the home including refinished hardwood floors in 2020, carpets in 2017, new water heater in 2017, repiped water lines in 2017, new main water line and meter in 2018, new central AC/Heat in 2017, new fence and canned lights in 2018.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 90631

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $217k742k

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

Zip Code: 90631

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17143345

* 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
Rancho-starbuck Intermediate School Middle Regular 774 28 8
La Habra High School High Magnet 2,230 73 7

Rancho-starbuck Intermediate School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 28
8
GreatSchools Rating

La Habra High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 73
7
GreatSchools Rating
 

$571,500$698,500$635,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,206
Property Tax -$624
Property Insurance -$58
Property Management Fees -$124
CASH FLOW
-$472

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.

$635,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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$174,025

INVESTMENT

$174,025

Down Payment
$158,750
Rehab Estimate
$5,750
Closing Costs
$9,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,206

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $158,750
Loan Amount $476,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $2,591

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,540
1$2,5402$2,6003$2,8004$2,8005$3,200
$3,200
RENT COMPS ANALYSIS
  • 231 La Plaza Drive La Habra, CA 1
    • 3 beds 1 baths ∙ 1,264 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,264 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $2.01
    •  
  • 1050 Hacienda Road La Habra, CA 2
    • 4 beds 1 baths ∙ 1,273 Sqft ∙ Built 1954 4 beds 1 baths ∙ 1,273 Sqft ∙ Built 1954
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.04
    •  
  • 230 La Plaza Drive La Habra, CA 3
    • 4 beds 2 baths ∙ 1,355 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,355 Sqft ∙ Built 1956
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.07
    •  
  • 341 La Plaza Drive La Habra, CA 4
    • 4 beds 2 baths ∙ 1,355 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,355 Sqft ∙ Built 1956
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.07
    •  
  • 360 Deanna Street La Habra, CA 5
    • 4 beds 1 baths ∙ 1,582 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,582 Sqft ∙ Built 1960
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.02
    •  
PROPERTY LISTING DETAILS
Sammer Mudawar
The Brokeredge
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21059494
Last Updated: 03/24/2021
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