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2929 Punta Del Este Drive Hacienda Heights, CA 91745

4 Beds 3 Baths 2,855 sqft Built 1969

$968,000

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $339.05
  • 10 Days on Market
  • MLS # : TR20234266
  • Updated Date : 11/13/2020 at 21:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,855 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remax 2000 Realty

Listing Agent's Description

Live on top of the hills, with a panoramic view of city light, mountain and canyon. Luxurious custom home with new remodeled kitchen and two bathrooms. Brand new interior paint and newer floor.  Total 4 bedrooms (2 master suites), 3.5 bathroom+ office. The private driveway leads to a dramatic custom designer. Double door and an eloquent grand foyer entrance, high ceiling in an elegant living room with fireplace, chandelier, and wet bar. The spacious large formal dining room has a crystal chandelier, a remodeled kitchen features quartz countertop, stainless steel appliances and a new cabinet. One master suite and office in the main floor. Remodeled bathroom. The upstairs master suite features a balcony that can overlook the breeze view. The seating room, master bathroom features dual vanities, bathtub, and a separate shower. Beautiful landscaping, lots of fruit trees, perfect for entertaining. Additional highlights include central air condition and heating unit, recessed lighting. 3 car garage. Great school, Grazide, and Mesa Robles; a very convenient location.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $143k856k

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

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2140016001800200022002400260028003000320034003600Rent in $13253697

* 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
Mesa Robles School Primary Regular 1,080 42 9
Mesa Robles School Middle Regular 1,080 42 9
Glen A. Wilson High School High Regular 1,616 64 9

Mesa Robles School

  • Education Level: Primary
  • # of students: 1,080
  • # of teachers: 42
9
GreatSchools Rating

Mesa Robles School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 42
9
GreatSchools Rating

Glen A. Wilson High School

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

$871,200$1,064,800$968,000

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$3,571
Property Tax -$1,017
Property Insurance -$96
Property Management Fees -$171
CASH FLOW
-$1,365

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.

$968,000

PROJECTED PRICE

$3,490

PROJECTED RENT

0.36%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$262,270

INVESTMENT

$262,270

Down Payment
$242,000
Rehab Estimate
$5,750
Closing Costs
$14,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,571

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $242,000
Loan Amount $726,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$724

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,490

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $3,540

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2003$3,2004$3,4905$3,600
$3,600
RENT COMPS ANALYSIS
  • 2929 Punta Del Este Drive Hacienda Heights, CA 4
    • 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $1.22
    •  
  • 16147 Elza Drive Hacienda Heights, CA 1
    • 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 1979
    LEASED 05/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.20
    •  
  • 2647 Sarandi Grande Drive Hacienda Heights, CA 2
    • 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 1968
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.27
    •  
  • 15904 Annellen Street Hacienda Heights, CA 3
    • 5 beds 4 baths ∙ 2,660 Sqft ∙ Built 1957 5 beds 4 baths ∙ 2,660 Sqft ∙ Built 1957
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.20
    •  
  • 15850 Los Altos Drive Hacienda Heights, CA 5
    • 5 beds 4 baths ∙ 2,798 Sqft ∙ Built 1962 5 beds 4 baths ∙ 2,798 Sqft ∙ Built 1962
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.29
    •  
PROPERTY LISTING DETAILS
Nancy Liu
Remax 2000 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20234266
Last Updated: 11/13/2020
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