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PROPERTY INFO
FACTS
- Single Family
- Built In 1952
- Price/Sqft : $506.88
- 7 Days on Market
- MLS # : EV20256647
- Updated Date : 12/14/2020 at 14:56
CONSTRUCTION
- Beds : 3
- Floor Size : 1,162 sqft
- Baths : 1 full
Listing Agent
Lee Smith
Listing Agent's Description
First time on Market. Classic with lathe and plaster construction, upgraded kitchen with extra dining booth, and other minor upgrades performed over the years. Pride of ownership with block walls on 2 sides, chain link fence on 3rd side perfect for children and pets, 6-station automatic irrigation system, soft water system, 3 large shade trees, concrete driveway, and large covered patio. 2-Car garage with overhead storage and a newer Tuff Shed in the yard. The original hardwood floors are under the existing carpet.
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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 | $2,600 |
| EXPENSES | Loan Payment | -$2,173 |
| Property Tax | -$607 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
-$363
|
||
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.
$589,000
PROJECTED PRICE
$2,600
PROJECTED RENT
0.44%
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
$161,835
LOAN DETAILS
$2,173
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $147,250 |
| Loan Amount | $441,750 |
3.08
YEARS SAVED
$17,042
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,600
LIST RENT -
$2.24
LIST RENT PER SQFT
-
$2,379
COMP ESTIMATED VALUE -
$2.05
COMP AVG. RENT PER SQFT
Comps Range
-
241 Chinchilla Street La Habra, CA 2
- 3 beds 1 baths ∙ 1,162 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,162 Sqft ∙ Built 1952
![property image]()
- Rent
- Rent Per SQFT
- $2,600
- $2.24
-
1210 Lambert Road W La Habra, CA 1
- 3 beds 1 baths ∙ 1,053 Sqft ∙ Built 1970 3 beds 1 baths ∙ 1,053 Sqft ∙ Built 1970
![property image]()
LEASED 01/31/20- Rent
- Rent Per SQFT
- $2,100
- $1.99
-
221 W Parkwood Avenue La Habra, CA 3
- 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1962
![property image]()
LEASED 11/04/19- Rent
- Rent Per SQFT
- $2,750
- $2.00
-
230 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 10/09/20- Rent
- Rent Per SQFT
- $2,800
- $2.07
-
210 W Parkwood Avenue La Habra, CA 5
- 4 beds 2 baths ∙ 1,361 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,361 Sqft ∙ Built 1962
![property image]()
LEASED 05/19/20- Rent
- Rent Per SQFT
- $2,900
- $2.13
PROPERTY LISTING DETAILS
Lee Smith
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: EV20256647
Last Updated: 12/14/2020
