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2540 Summershade Dr La Habra, CA 90631

3 Beds 2 Baths 1,379 sqft Built 1963

$699,888

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $507.53
  • 8 Days on Market
  • MLS # : NDP2002392
  • Updated Date : 11/11/2020 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,379 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Up for sale is this modern entertainers dream, in a prime neighborhood located in La Habra. This home is centrally located within walking distance to many large retail chains. The home boasts updated features, modern upgrades, and open concept living at its finest. Large two car garage with extensive storage, updated kitchen and family room, with modern bathrooms which provides a low maintenance option that buyers desire. The backyard has extensive views of West-Ridge Golf Course, and is an entertainers dream. With $30000 in exterior upgrades you can enjoy a large gas powered concrete fire table, expansive grill island with outdoor fridge, and numerous fire and water features highlighted by ambient lighting. Recently installed roof with plenty of life left and newly landscaped exterior provides low cost maintenance. Not often does a home come up with this level of quality and affordability, so make an appointment today

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Olita Elementary School Primary Regular 461 18 7
Rancho-starbuck Intermediate School Middle Regular 774 28 8
La Habra High School High Magnet 2,230 73 7

Olita Elementary School

  • Education Level: Primary
  • # of students: 461
  • # of teachers: 18
7
GreatSchools Rating

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
 

$629,899$769,877$699,888

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,582
Property Tax -$688
Property Insurance -$60
Property Management Fees -$135
CASH FLOW
-$706

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.

$699,888

PROJECTED PRICE

$2,760

PROJECTED RENT

0.39%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,220

INVESTMENT

$191,220

Down Payment
$174,972
Rehab Estimate
$5,750
Closing Costs
$10,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,972
Loan Amount $524,916
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,850

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $2,765

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,760
1$2,7602$2,8003$2,8504$2,9505$3,075
$3,075
RENT COMPS ANALYSIS
  • 2540 Summershade Dr La Habra, CA 1
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $2.00
    •  
  • 12310 Cullman Avenue Whittier, CA 2
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1962
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.98
    •  
  • 910 Cedarwood Drive La Habra, CA 3
    • 4 beds 2 baths ∙ 1,407 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,407 Sqft ∙ Built 1958
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.03
    •  
  • 16257 Placid Drive Whittier, CA 4
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1962
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.08
    •  
  • 2620 W Cobblestone Road La Habra, CA 5
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1963
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,075
    • $1.93
    •  
PROPERTY LISTING DETAILS
Andrew Leach
Realty One Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NDP2002392
Last Updated: 11/11/2020
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