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PROPERTY INFO
FACTS
- Single Family
- Built In 1967
- Price/Sqft : $390.16
- 5 Days on Market
- MLS # : PW21007955
- Updated Date : 01/16/2021 at 12:39
CONSTRUCTION
- Beds : 3
- Floor Size : 1,525 sqft
- Baths : 2 full , 1 half
Listing Agent
Century 21 Cornerstone
Listing Agent's Description
Two story beautiful three bedroom two and a half bath pool home. Remodeled kitchen with gorgeous new cabinets, custom designed granite counter tops and breakfast bar which also includes the refrigerator, gas stove, built in microwave, recessed lighting throughout. Custom tile flooring in kitchen. Hardwood flooring in living room and dining room area. Beautiful crown molding installed in home. Custom shutters throughout home. Brand new heating system in home. In ground pool includes it's own pool sweep and slide. Front yard surrounded by custom brick fencing with rod iron accents. Formal dining room off of kitchen and eating area in kitchen as well. Direct access to double car garage from kitchen area. Laundry area in garage with easy access to kitchen and inside of home. Remodeled half bath downstairs and remodeled upstairs master bathroom with custom tile shower. Automatic Chair rail lift included from downstairs to upstairs bedroom areas. Relaxing covered patio with beautiful brick work outside of kitchen for entertaining on the summer days with swimming pool!!! Very close to 605 freeway, shopping, parks and schools. Great opportunity to own your own home. Move in ready home.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Whittier
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Whittier
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,700 |
| EXPENSES | Loan Payment | -$2,067 |
| Property Tax | -$647 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$132 | |
|
CASH FLOW
-$210
|
||
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.
$595,000
PROJECTED PRICE
$2,700
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$163,425
LOAN DETAILS
$2,067
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $148,750 |
| Loan Amount | $446,250 |
4.42
YEARS SAVED
$26,269
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,700
LIST RENT -
$1.77
LIST RENT PER SQFT
-
$2,939
COMP ESTIMATED VALUE -
$1.93
COMP AVG. RENT PER SQFT
Comps Range
-
5831 Adele Avenue Whittier, CA 3
- 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1967 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1967
- Rent
- Rent Per SQFT
- $2,700
- $1.77
-
12318 Beverly Drive Whittier, CA 1
- 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1955
LEASED 01/17/20- Rent
- Rent Per SQFT
- $2,650
- $1.76
-
4003 Aleman Avenue Pico Rivera, CA 2
- 4 beds 2 baths ∙ 1,375 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,375 Sqft ∙ Built 1953
LEASED 02/07/20- Rent
- Rent Per SQFT
- $2,700
- $1.96
-
6413 Milna Avenue Whittier, CA 4
- 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1949
LEASED 11/05/20- Rent
- Rent Per SQFT
- $2,800
- $1.92
-
9230 Belmont St Pico Rivera, CA 5
- 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 1984
LEASED 07/31/20- Rent
- Rent Per SQFT
- $3,150
- $2.07
PROPERTY LISTING DETAILS
Century 21 Cornerstone
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21007955
Last Updated: 01/16/2021
