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301 W Mountain View Avenue #201 La Habra, CA 90631

3 Beds 2 Baths 1,120 sqft Built 1987

$389,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $348.13
  • 6 Days on Market
  • MLS # : PW20229093
  • Updated Date : 10/31/2020 at 13:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,120 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Welcome to your new 3-bedroom 2-bathroom condominium, located in the heart of La Habra. The home is well-lit with recessed lighting throughout the house, complete with Nest air conditioning and heating that can be controlled on your app even when you are away from home. The home’s double pane windows will also help keep the home hot or cold depending on the season. The kitchen is complete with a gas stove and oven, and there is a gas hookup for the dryer as well. The master bedroom has been fully remodeled, with his and her custom closets. All other bedrooms also have their own custom closets. Conveniently located near Brea Mall and downtown Fullerton, in a private gated community complex with 13 total units. The property has three assigned covered parking spaces and a community pool.

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
Sierra Vista Elementary School Primary Regular 532 20 5
Washington Middle School Middle Regular 854 33 4
La Habra High School High Magnet 2,230 73 7

Sierra Vista Elementary School

  • Education Level: Primary
  • # of students: 532
  • # of teachers: 20
5
GreatSchools Rating

Washington Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 33
4
GreatSchools Rating

La Habra High School

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

$350,910$428,890$389,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,439
Property Tax -$402
Property Insurance -$54
HOA -$390
Property Management Fees -$100
CASH FLOW
-$335

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.

$389,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.53%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,595

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $2,262

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1003$2,5004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 301 W Mountain View Avenue La Habra, CA 1
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.83
    •  
  • 1210 Lambert Road W La Habra, CA 2
    • 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
    •  
  • 924 N Walnut Street La Habra, CA 3
    • 3 beds 3 baths ∙ 1,210 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,210 Sqft ∙ Built 2000
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.07
    •  
  • 222 S Idaho Street La Habra, CA 4
    • 3 beds 3 baths ∙ 1,234 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,234 Sqft ∙ Built 2006
    property image
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.03
    •  
  • 891 Hartford Lane La Habra, CA 5
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1975
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.99
    •  
PROPERTY LISTING DETAILS
Bui Hoang
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20229093
Last Updated: 10/31/2020
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