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PROPERTY INFO
FACTS
- Single Family
- Built In 1951
- Price/Sqft : $501.62
- 3 Days on Market
- MLS # : PW20256040
- Updated Date : 12/11/2020 at 16:36
CONSTRUCTION
- Beds : 3
- Floor Size : 1,794 sqft
- Baths : 2 full
Listing Agent
Keller Williams Socal
Listing Agent's Description
Gorgeous mid century modern home with beautiful swimming pool! This home has too many upgrades to list. Starting with the Dream Kitchen, Quartz countertops with waterfall finish on end caps, Custom modern high-end cabinetry, hansgrohe kitchen faucet, Elkay stainless kitchen sink. Matching Samsung stainless gas stove, fridge, microwave and dishwasher. Zline kitchen hood. GE Monogram wine fridge. The master bathroom has been upgraded and spared no expense. Hansgrohe ecostat shower system, diverter valve and shower head. Koehler water tiles and 15" rainfall shower head. Custom glass shower sliding door. Beautiful soaking tub. Oversized his and hers vanity and Koehler toilet. Air-conditioner is new and furnace was replaced in the last 5 years. There is copper plumbing thru ought. Most of the windows are new Milgard double pane. The sliding door is also a 10ft. Milgard door. There are beautiful oak hardwoods thru ought the entire home, Schlage brush nickel door handles. The pool has been upgraded with mini pebbles and a baja ledge. Pool heater , filter and pump are new. The entire home has a 6 camera system. There is a ring alarm system with two keypads, 2 room motion sensors and sensors on all doors and windows. There is a nest thermostat.
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MARKET HIGHLIGHTS
- 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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Ridgewood Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ridgewood Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $3,240 |
EXPENSES | Loan Payment | -$3,320 |
Property Tax | -$949 | |
Property Insurance | -$70 | |
Property Management Fees | -$159 | |
CASH FLOW
-$1,259
|
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.
$899,900
PROJECTED PRICE
$3,240
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 4.48% |
Appreciation Year (1-5) | 7.4% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 4.69% |
Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$244,224
LOAN DETAILS
$3,320
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $224,975 |
Loan Amount | $674,925 |
0.33
YEARS SAVED
$819
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,240
LIST RENT -
$1.81
LIST RENT PER SQFT
-
$3,364
COMP ESTIMATED VALUE -
$1.88
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Keller Williams Socal
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20256040
Last Updated: 12/11/2020