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994 E La Habra Boulevard #144 La Habra, CA 90631

3 Beds 2 Baths 1,027 sqft Built 1978

$430,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $418.70
  • 5 Days on Market
  • MLS # : SB21017785
  • Updated Date : 01/29/2021 at 16:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,027 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to this beautiful upgraded 3 bedroom 2 bathroom lower level condo. Kitchen and Living area has an open layout concept featuring upgraded kitchen cabinets, gorgeous granite counter tops and double deep sink with custom cabinets in kitchen with self closing drawers. Spacious dining area that opens up to the gorgeous Living room offering a charming gas fireplace and French sliding doors that lead out to the brick patio and Recessed lighting . Patio features brick flooring, terf with high fence and tree for more privacy and a deep storage closet. Large bedroom with Pergo Outlast+ Waterproof Laminate flooring in master and one of guest bedrooms. Upgraded bathrooms, Washer and Dryer inside hallway closet, newer water heater, Central AC & Heat, newer double paned windows, 2 car detached garage, that has been drywalled, is just steps away. Pet friendly community offering pool, spa and walking distance to shopping and dining.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Sierra Vista Elementary School Primary Regular 532 20 5
Washington Middle School Middle Regular 854 33 4
Sonora High School High Regular 1,924 67 9

Sierra Vista Elementary School

  • Education Level: Primary
  • # of students: 532
  • # of teachers: 20
5
GreatSchools Rating

Washington Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 33
4
GreatSchools Rating

Sonora High School

  • Education Level: High
  • # of students: 1,924
  • # of teachers: 67
9
GreatSchools Rating
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,494
Property Tax -$445
Property Insurance -$52
HOA -$380
Property Management Fees -$99
CASH FLOW
-$520

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.

$430,000

PROJECTED PRICE

$1,950

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$209

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $1,980

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,4003$2,4504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 994 E La Habra Boulevard La Habra, CA 1
    • 3 beds 2 baths ∙ 1,027 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,027 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.90
    •  
  • 512 Breezewood Court Brea, CA 2
    • 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.84
    •  
  • 1781 Pennywood Court Brea, CA 3
    • 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1974
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.88
    •  
  • 891 Hartford Lane La Habra, CA 4
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1975
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.99
    •  
  • 568 Elkwood Court Brea, CA 5
    • 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1973
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
PROPERTY LISTING DETAILS
Patricia Williams
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21017785
Last Updated: 01/29/2021
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