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607 N Walnut # B La Habra, CA 90631

3 Beds 3 Baths 1,650 sqft Built 2015

INVESTimate

$595,000

List Price

$2,940

$2,690 - $3,190

Rent Est.

$634,211  ( +6.59%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2015
  • Price/Sqft : $360.61
  • 12 Days on Market
  • MLS # : CV20163570
  • Updated Date : 08/22/2020 at 13:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 3 full
Listing Agent

Century 21 Citrus Realty Inc

Listing Agent's Description

Welcome to this beautiful TURNKEY home features 3 bedrooms upstairs and 2.5 baths. Home has high ceilings, recessed lightings, numerous dual pane windows throughout the house that brings in natural lights. Kitchen has granite countertops and plenty of cabinets for storage, drawers/cabinets for extra storage space. Laminated flooring both downstairs and upstairs with plush carpeting in the bedrooms. Master retreat has ceiling fan installed, spacious walk-in closet, dual sinks, soaking tub and separate shower. A generous sized laundry room upstairs with own window and storage. Backyard patio is perfect for entertaining. This home is close proximity to parks, and playground facilities, Children's Museum, tennis courts, Civic Center, shopping centers, restaurants, movie theaters and schools.

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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,195
Property Tax -$613
Property Insurance -$67
HOA -$214
Property Management Fees -$144
CASH FLOW
-$294

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

$2,940

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.59%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$20,621

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,061

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,940
1$2,9402$3,1003$3,195
$3,195
RENT COMPS ANALYSIS
  • 607 N Walnut La Habra, 1
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $1.78
    •  
  • 655 Roscoe Street Brea, 2
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1996
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.72
    •  
  • 1511 Kinsler Ct Brea, 3
    • 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1995
    property image
    LEASED 06/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.99
    •  
PROPERTY LISTING DETAILS
Rita Farr
Century 21 Citrus Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20163570
Last Updated: 08/22/2020
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