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8308 Greenleaf Avenue Whittier, CA 90602

3 Beds 1 Baths 1,176 sqft Built 1928

$539,999

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $459.18
  • 8 Days on Market
  • MLS # : DW20240417
  • Updated Date : 11/18/2020 at 19:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,176 sqft
  • Baths : 1 full
Listing Agent

Ck Real Estate

Listing Agent's Description

Welcome to the Whittier Home of Your Dreams!!! This craftsman-style home is timeless but with modern updates. The completely updated home has numerous upgrades including a new vinyl fence and porch in the front, laminate wood floors throughout, quartz counters, recessed lighting, new electrical wiring and box, new dual pane windows, new gas and water lines and new HVAC system for central A/C & Heat! This beauty is just minutes from Historic Uptown Whittier and features a gorgeous open layout & modern look. With a spacious open living room and amazing gourmet kitchen with custom cabinets leading to a huge newly cemented backyard -- this home is perfect for entertaining! The lot is also a fantastic size measuring 5,788 sq ft with a long driveway for extra or RV parking, a detached 2 car garage, a new wood fence with solar powered lights, romantic string lights, and to top it off - an amazing avocado tree in the back. Check out this home today!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Laurel Elementary School Primary Regular 713 26 6
East Whittier Middle School Middle Regular 1,287 45 8
Whittier High School High Regular 2,164 83 6

Laurel Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 26
6
GreatSchools Rating

East Whittier Middle School

  • Education Level: Middle
  • # of students: 1,287
  • # of teachers: 45
8
GreatSchools Rating

Whittier High School

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

$485,999$593,999$539,999

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,992
Property Tax -$588
Property Insurance -$56
Property Management Fees -$109
CASH FLOW
-$525

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.

$539,999

PROJECTED PRICE

$2,220

PROJECTED RENT

0.41%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $404,999
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $2,387

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,5003$2,5004$2,945
$2,945
RENT COMPS ANALYSIS
  • 8308 Greenleaf Avenue Whittier, CA 1
    • 3 beds 1 baths ∙ 1,176 Sqft ∙ Built 1928 3 beds 1 baths ∙ 1,176 Sqft ∙ Built 1928
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.89
    •  
  • 5832 Greenleaf Avenue Whittier, CA 2
    • 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1922
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.97
    •  
  • 13213 Danbrook Drive Whittier, CA 3
    • 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1940
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.06
    •  
  • 9103 Bluford Avenue Whittier, CA 4
    • 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,945
    • $2.06
    •  
PROPERTY LISTING DETAILS
Gerry Gutierrez
Ck Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20240417
Last Updated: 11/18/2020
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