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6220 Southwind Drive Whittier, CA 90601

3 Beds 3 Baths 2,600 sqft Built 1965

$870,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $334.62
  • 8 Days on Market
  • MLS # : DW21022060
  • Updated Date : 02/10/2021 at 10:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,600 sqft
  • Baths : 2 full , 1 half
Listing Agent

William Thompson

Listing Agent's Description

Come and check out this beautiful home located in the very desirable Hadley Hills area! Immaculate, well-cared for inside and out; 3 bedroom, 3 bath house includes a pool, formal dining area, spacious living room with original hardwood floors, original brick fireplace. The kitchen offers wood cabinets, stainless steel appliances, and granite countertops. The master bedroom offers a walk in closet, built in AC unit, and bathroom vanity. The backyard offers a covered patio, private shed, and pool/jacuzzi - perfect for entertaining!! Some work may need to be done, but this is the perfect opportunity to make this house YOUR home!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Whittier

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: Whittier

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492941

* 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
Lou Henry Hoover Elementary School Primary Regular 485 17 5
Walter F. Dexter Middle School Middle Regular 1,097 41 4
Whittier High School High Regular 2,164 83 6

Lou Henry Hoover Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 17
5
GreatSchools Rating

Walter F. Dexter Middle School

  • Education Level: Middle
  • # of students: 1,097
  • # of teachers: 41
4
GreatSchools Rating

Whittier High School

  • Education Level: High
  • # of students: 2,164
  • # of teachers: 83
6
GreatSchools Rating
 

$783,000$957,000$870,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$3,022
Property Tax -$943
Property Insurance -$90
Property Management Fees -$148
CASH FLOW
-$1,183

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.

$870,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$236,300

INVESTMENT

$236,300

Down Payment
$217,500
Rehab Estimate
$5,750
Closing Costs
$13,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,022

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $217,500
Loan Amount $652,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $3,389

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$3,0203$3,2004$3,650
$3,650
RENT COMPS ANALYSIS
  • 6220 Southwind Drive Whittier, CA 2
    • 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 1965 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $1.16
    •  
  • 3238 Montellano Avenue Hacienda Heights, CA 1
    • 3 beds 3 baths ∙ 2,444 Sqft ∙ Built 1971 3 beds 3 baths ∙ 2,444 Sqft ∙ Built 1971
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.08
    •  
  • 4015 Hermitage Drive Hacienda Heights, CA 3
    • 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1981
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.29
    •  
  • 3535 Holmes Circle Hacienda Heights, CA 4
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1984
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.54
    •  
PROPERTY LISTING DETAILS
Amber Aguilar
William Thompson
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21022060
Last Updated: 02/10/2021
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