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9942 Cullman Avenue Whittier, CA 90603

3 Beds 2 Baths 1,485 sqft Built 1955

$825,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $555.56
  • 4 Days on Market
  • MLS # : DW21028606
  • Updated Date : 02/11/2021 at 14:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Cal Re Fund Management, Inc

Listing Agent's Description

This Mid-Century Modern has been renovated and restored to keep the vintage vibe of the home. Large pane windows bring the full integration of nature into every room with a view of the beautifully landscaped backyard, firepit and pool. Clean lines and simplicity define this home with new updates carefully chosen to accent the Mid-Century architecture.

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
Murphy Ranch Elementary School Primary Regular 566 20 9
Granada Middle School Middle Regular 1,087 41 8
La Serna High School High Regular 2,940 100 9

Murphy Ranch Elementary School

  • Education Level: Primary
  • # of students: 566
  • # of teachers: 20
9
GreatSchools Rating

Granada Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 41
8
GreatSchools Rating

La Serna High School

  • Education Level: High
  • # of students: 2,940
  • # of teachers: 100
9
GreatSchools Rating
 

$742,500$907,500$825,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,866
Property Tax -$868
Property Insurance -$63
Property Management Fees -$135
CASH FLOW
-$1,172

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.

$825,000

PROJECTED PRICE

$2,760

PROJECTED RENT

0.33%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,866

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$200

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $1.86

    LIST RENT PER SQFT
  • $2,792

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7603$2,8504$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 9942 Cullman Avenue Whittier, CA 2
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $1.86
    •  
  • 16120 Leffco Road Whittier, CA 1
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1953
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.04
    •  
  • 16022 Puesta Del Sol Drive Whittier, CA 3
    • 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1968
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.78
    •  
  • 10847 Lindesmith Avenue Whittier, CA 4
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1955
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.75
    •  
  • 10451 Portada Drive Whittier, CA 5
    • 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1955
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.95
    •  
PROPERTY LISTING DETAILS
Tracey Brandenburg
Cal Re Fund Management, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21028606
Last Updated: 02/11/2021
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