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501 Willow Street La Habra, CA 90631

3 Beds 1 Baths 1,400 sqft Built 1950

$610,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $435.71
  • 13 Days on Market
  • MLS # : DW20244343
  • Updated Date : 12/04/2020 at 10:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 1 full
Listing Agent

Johnhart Corp

Listing Agent's Description

In the beautiful city of La Habra, welcome to this beautiful 3-bedroom, 2-bathroom, 1,400-sqft modern single-story home! Amazing curb appeal, the property includes a 1-car garage and has room for an additional parking space in the driveway when needed. The interior of the home features laminate and tile flooring with baseboard moldings, high ceilings equipped with recessed lighting, crown moldings, as well ceiling fan/light fixtures, plenty of storage space and French windows throughout! There is a charming living room and a cozy dining area. The stunning kitchen has granite countertops, stainless steel appliances, along with a decorative mosaic backsplash, the laundry area and even a convenient back door that leads you out to the back yard. Bathrooms are well-lit and the bedrooms are nice and spacious. There is an additional bedroom that was added on with the necessary permits in place. The master bedroom is complete with a fireplace and French doors. Located on a perfectly manicured corner lot, this home is across the street from La Habra High School and La Bonita Park, down the street from Walgreens, Albertsons, Northgate Market, local shops, and restaurants, closet to the Westridge Plaza, and easy access to Highways 72 and 59! Makes this home yours 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
Walnut Elementary School Primary Regular 559 20 3
Imperial Middle School Middle Regular 825 32 3
La Habra High School High Magnet 2,230 73 7

Walnut Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 20
3
GreatSchools Rating

Imperial Middle School

  • Education Level: Middle
  • # of students: 825
  • # of teachers: 32
3
GreatSchools Rating

La Habra High School

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

$549,000$671,000$610,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,251
Property Tax -$629
Property Insurance -$61
Property Management Fees -$123
CASH FLOW
-$544

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.

$610,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.41%

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$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $1.8

    LIST RENT PER SQFT
  • $2,863

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,520
1$2,5202$2,6003$2,8004$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 501 Willow Street La Habra, CA 1
    • 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $1.80
    •  
  • 1050 Hacienda Road La Habra, CA 2
    • 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
    •  
  • 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
    •  
  • 1860 Hillandale Avenue La Habra, CA 4
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1958
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.05
    •  
  • 360 Deanna Street La Habra, CA 5
    • 4 beds 1 baths ∙ 1,582 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,582 Sqft ∙ Built 1960
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.02
    •  
PROPERTY LISTING DETAILS
Sofia Martinez
Johnhart Corp
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20244343
Last Updated: 12/04/2020
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