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8829 Greenleaf Avenue Whittier, CA 90602

3 Beds 2 Baths 1,455 sqft Built 2017

$569,900

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $391.68
  • 3 Days on Market
  • MLS # : PW20239501
  • Updated Date : 11/13/2020 at 15:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,455 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Synergy

Listing Agent's Description

Take advantage of this amazing Whittier Opportunity! It is a great size featuring 1,455 Sqft of living space, 3 bedrooms, 3 updated bathrooms, an open living room to the updated kitchen and dining area, and a master bedroom with attached master bathroom! Other features include a brand new kitchen with quartz counters, back splash and new cabinets, Central AC/Heat, recessed lighting, tile floors, new windows, new roof and so much more! The home sits on a corner lot and includes an attached 2 car garage! The area is amazing as the home is just minutes from Uptown Whittier with all of the shops and restaurants it has to offer! Thank you so much for viewing this home!

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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
Evergreen Elementary School Primary Regular 468 25 5
East Whittier Middle School Middle Regular 1,287 45 8
Whittier High School High Regular 2,164 83 6

Evergreen Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 25
5
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
 

$512,910$626,890$569,900

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,103
Property Tax -$621
Property Insurance -$62
Property Management Fees -$131
CASH FLOW
-$237

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.

$569,900

PROJECTED PRICE

$2,680

PROJECTED RENT

0.47%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,774

INVESTMENT

$156,774

Down Payment
$142,475
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,475
Loan Amount $427,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$28,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $1.84

    LIST RENT PER SQFT
  • $3,046

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,680
1$2,6802$2,7003$2,8504$3,000
$3,000
RENT COMPS ANALYSIS
  • 8829 Greenleaf Avenue Whittier, CA 1
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.84
    •  
  • 10427 Sycamore Lane Santa Fe Springs, CA 2
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2010
    property image
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.93
    •  
  • 11950 Reichling Lane Whittier, CA 3
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1997
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.85
    •  
  • 13740 Bentongrove Drive Whittier, CA 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2020
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.50
    •  
PROPERTY LISTING DETAILS
Angel&pat Hernandez
Realty One Group Synergy
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20239501
Last Updated: 11/13/2020
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