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1307 N Stone Street Los Angeles, CA 90063

5 Beds 2 Baths 2,190 sqft Built 1948

$790,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $360.73
  • 3 Days on Market
  • MLS # : DW21030200
  • Updated Date : 02/12/2021 at 18:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,190 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

What a gorgeous home on this hilltop!!! This home features a 2 bedroom 1 bath in the front house and a 3 bedroom 2 bath in the back house. Your clients will love to have their college kids or in laws living in one of them. Separate entrances but houses are connected legally a 5 bedroom 3 bath house. Front house new hardwood floors throughout, new paint, new moldings, has spacious living room, dinning open from the kitchen, island counter top, completely remodeled bathroom. Back unit new paint with 1 master bedroom downstairs and 2 bed 1 bath upstairs.

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: Boyle Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $139k725k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Boyle Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14623316

* 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
Belvedere Middle School Middle Regular 1,344 61 4
Hilda L Solis Learning Academy High Unknown 291 12 NA
Hilda L Solis Learning Academy High Unknown NA

Belvedere Middle School

  • Education Level: Middle
  • # of students: 1,344
  • # of teachers: 61
4
GreatSchools Rating

Hilda L Solis Learning Academy

  • Education Level: High
  • # of students: 291
  • # of teachers: 12
NA
GreatSchools Rating

Hilda L Solis Learning Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$711,000$869,000$790,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,744
Property Tax -$821
Property Insurance -$80
Property Management Fees -$159
CASH FLOW
-$554

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$790,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$215,100

INVESTMENT

$215,100

Down Payment
$197,500
Rehab Estimate
$5,750
Closing Costs
$11,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,744

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,500
Loan Amount $592,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$15,778

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $3,110

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$3,250
$3,250
RENT COMPS ANALYSIS
  • 1307 N Stone Street Los Angeles, CA 2
    • 5 beds 2 baths ∙ 2,190 Sqft ∙ Built 1948 5 beds 2 baths ∙ 2,190 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.48
    •  
  • 2141 N Eastern Avenue Los Angeles, CA 1
    • 5 beds 2 baths ∙ 1,864 Sqft ∙ Built 1940 5 beds 2 baths ∙ 1,864 Sqft ∙ Built 1940
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.42
    •  
PROPERTY LISTING DETAILS
Ramon Sanchez
Exp Realty Of California Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21030200
Last Updated: 02/12/2021
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