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510 Laura Street La Habra, CA 90631

3 Beds 2 Baths 1,257 sqft Built 1956

$715,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $568.81
  • 4 Days on Market
  • MLS # : PW21038170
  • Updated Date : 03/20/2021 at 05:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,257 sqft
  • Baths : 2 full
Listing Agent

Century 21 Discovery

Listing Agent's Description

Located in a quiet neighborhood with wide streets, this beautiful one story home lives large on the inside! Whether you’re buying your first home or it’s time to “right size”, this 3 bedroom, 2 bath home is ideal. It has the look & feel of what you've been wishing for. Front door opens to an inviting living room with a fireplace & a beautiful kitchen. The great room, open floor plan inspires gathering family & friends. No walls divide the entertaining space! French doors and large windows provide natural light and an invitation to enjoy the pool in the backyard. From top to bottom, this home has been updated: newer roof, recessed lights, dual-paned windows, hardwood floors, the entire kitchen and both bathrooms! You’ll love the kitchen upgrades: quartz counters, stainless steel appliances & beautiful tile backsplash. The master bedroom has a large walk-in closet & remodeled en suite bath. You’ll love the spa-like bath with marble dual sink vanity and step in shower with glass enclosure. Both secondary bedrooms are good-sized, have wood cornice valances over the large windows, mirrored closet doors & ceiling light fans. They share a full hall bath with shower over tub combo & vanity with quartz counter. Laundry room has built in cabinets throughout & direct access to a 2 car garage. Central A/C & heat. The pergola covered patio in the backyard is a great place to unwind with family and friends. Cool off on hot days in the sparkling pool. This adorable home is a must see!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: La Habra

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $217k742k

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

Neighborhood: La Habra

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
Sonora High School High Regular 1,924 67 9

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

Sonora High School

  • Education Level: High
  • # of students: 1,924
  • # of teachers: 67
9
GreatSchools Rating
 

$643,500$786,500$715,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,483
Property Tax -$751
Property Insurance -$58
Property Management Fees -$116
CASH FLOW
-$1,048

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.

$715,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.33%

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

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$195,225

INVESTMENT

$195,225

Down Payment
$178,750
Rehab Estimate
$5,750
Closing Costs
$10,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,483

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $178,750
Loan Amount $536,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$71

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $2,479

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,360
1$2,3602$2,4503$2,8004$2,8005$3,150
$3,150
RENT COMPS ANALYSIS
  • 510 Laura Street La Habra, CA 1
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.88
    •  
  • 1781 Pennywood Court Brea, CA 2
    • 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.88
    •  
  • 530 Gerry Street La Habra, CA 3
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1956
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.02
    •  
  • 1285 Tracie Drive Brea, CA 4
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1972
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.94
    •  
  • 441 Wilson Street La Habra, CA 5
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1958
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.05
    •  
PROPERTY LISTING DETAILS
Babette Carlson
Century 21 Discovery
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21038170
Last Updated: 03/20/2021
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