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400 Rigsby Street La Habra, CA 90631

4 Beds 2 Baths 1,280 sqft Built 1955

$665,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $519.53
  • 11 Days on Market
  • MLS # : TR21018256
  • Updated Date : 02/06/2021 at 21:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,280 sqft
  • Baths : 2 full
Listing Agent

Ar Real Estate

Listing Agent's Description

Make an offer on this home before its gone! This home is located in a prime location of La Habra. The immaculate 4 bedrooms and 2 bath residence has fantastic curb appeal as well as an updated interior. There is an open floor plan with a large living room perfect for the family. The hardwood floors have been refinished, new interior/ exterior paint, updated fixtures, modern vanity, tile flooring, and many more. The kitchen offers new base cabinets, granite countertops, tile flooring, stainless-steel appliances, and subway backsplash/wall tile. There is a separate laundry room located off the kitchen which opens to the backyard. The area is spacious with updated fencing and room to relax outdoors. The home is in proximity to neighborhood shopping centers, restaurants, and local schools.

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
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
 

$598,500$731,500$665,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,310
Property Tax -$653
Property Insurance -$58
Property Management Fees -$142
CASH FLOW
-$273

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.

$665,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.43%

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-$5.0k$0.0$5.0k$10k$15k$20k

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$181,975

INVESTMENT

$181,975

Down Payment
$166,250
Rehab Estimate
$5,750
Closing Costs
$9,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,310

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $166,250
Loan Amount $498,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$23,341

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $2,630

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7003$2,8004$2,8005$2,890
$2,890
RENT COMPS ANALYSIS
  • 400 Rigsby Street La Habra, CA 5
    • 4 beds 2 baths ∙ 1,280 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,280 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $2.26
    •  
  • 1050 Hacienda Road La Habra, CA 1
    • 4 beds 1 baths ∙ 1,273 Sqft ∙ Built 1954 4 beds 1 baths ∙ 1,273 Sqft ∙ Built 1954
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.04
    •  
  • 16120 Leffco Road Whittier, CA 2
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1953
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $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
    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
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.07
    •  
PROPERTY LISTING DETAILS
Arthur Ramos
Ar Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21018256
Last Updated: 02/06/2021
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