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611 La Vereda Drive La Habra, CA 90631

3 Beds 1 Baths 1,612 sqft Built 1959

$715,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $443.55
  • 8 Days on Market
  • MLS # : PW20226870
  • Updated Date : 10/31/2020 at 20:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,612 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Alliance

Listing Agent's Description

This comfortable home is located north of Whittier Blvd., at the edge of La Habra Heights. Built in 1959, it is raised foundation,hardwood floors, and pocket doors. Cooper plumbing throughout; newer windows, and sliders, newer counter heights in the baths, separate laundry room, eat in kitchen with parque floors. Kitchen counters are finished selstone. The cabinetry includes a combination of drawers, pantry, cabinets, all built around the frontyard or driveway windows.There is a comfortable amount of space for eating in the kitchen, or more formal dining could be setup on the edge of the family room. Separate laundry room at the back door. Open beam ceilings in the adjoining living and family rooms; palo verde stone fireplace w/gas starter. The three bedrooms on the hall have carpeted floors with the same finished hardwood underneath as in the hallway. The Master is an en suite, with a 3/4 bath. The full bath is on the hall. Newer sliders open to the covered patio, that looks onto the back grass with fruit trees at the edges. The yard is truly peaceful and calming. The garage is a two car space with rafter storage and cabinets as well. Take a look at the photos, and the virtual tour. Remember that viewing the property requires mask and gloves. Hand sanitizer will be available for you as well. Sold in "as is present condition". Shown by appointment only. A not to be missed location!

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
 

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

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,638
Property Tax -$737
Property Insurance -$66
Property Management Fees -$157
CASH FLOW
-$398

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

$3,200

PROJECTED RENT

0.45%

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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

$2,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $178,750
Loan Amount $536,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$23,816

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $3,325

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8003$3,0004$3,0755$3,200
$3,200
RENT COMPS ANALYSIS
  • 611 La Vereda Drive La Habra, CA 5
    • 3 beds 1 baths ∙ 1,612 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,612 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.99
    •  
  • 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
    •  
  • 341 La Plaza Drive La Habra, CA 2
    • 4 beds 2 baths ∙ 1,355 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,355 Sqft ∙ Built 1956
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.07
    •  
  • 1051 N Orange Street La Habra, CA 3
    • 3 beds 1 baths ∙ 1,512 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,512 Sqft ∙ Built 1957
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.98
    •  
  • 1111 Carol Street La Habra, CA 4
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1951
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,075
    • $2.16
    •  
PROPERTY LISTING DETAILS
Marsha Keeney
Coldwell Banker Alliance
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20226870
Last Updated: 10/31/2020
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