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PROPERTY INFO
FACTS
- Single Family
- Built In 1925
- Price/Sqft : $457.76
- 2 Days on Market
- MLS # : SB20260480
- Updated Date : 12/19/2020 at 18:15
CONSTRUCTION
- Beds : 3
- Floor Size : 1,243 sqft
- Baths : 2 full
Listing Agent
The Realestate Group
Listing Agent's Description
Hurry this spacious three bedroom home in a quiet neighborhood will not last! Great for a first time buyer or an investor! Features include a large kitchen with lots of cabinets, stainless steel appliances, a breakfast bar and a very spacious master suite with a spa tub.
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Gramercy Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Gramercy Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,820 |
| EXPENSES | Loan Payment | -$2,099 |
| Property Tax | -$599 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$138 | |
|
CASH FLOW
-$73
|
||
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.
$569,000
PROJECTED PRICE
$2,820
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 10.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| 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
$156,535
LOAN DETAILS
$2,099
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $142,250 |
| Loan Amount | $426,750 |
6
YEARS SAVED
$46,307
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,820
LIST RENT -
$2.27
LIST RENT PER SQFT
-
$2,890
COMP ESTIMATED VALUE -
$2.33
COMP AVG. RENT PER SQFT
Comps Range
-
1431 W 88th Street Los Angeles, CA 2
- 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1922
![property image]()
- Rent
- Rent Per SQFT
- $2,820
- $2.27
-
7819 S Normandie Avenue Los Angeles, CA 1
- 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1935
![property image]()
LEASED 06/30/20- Rent
- Rent Per SQFT
- $2,800
- $2.27
-
1815 W 83rd Street Los Angeles, CA 3
- 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1928
![property image]()
LEASED 05/31/20- Rent
- Rent Per SQFT
- $2,995
- $2.37
-
1030 W 92nd Street Los Angeles, CA 4
- 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1929 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1929
![property image]()
LEASED 03/13/20- Rent
- Rent Per SQFT
- $3,100
- $2.36
-
9147 La Salle Avenue Los Angeles, CA 5
- 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1930
![property image]()
LEASED 11/15/19- Rent
- Rent Per SQFT
- $3,150
- $2.30
PROPERTY LISTING DETAILS
The Realestate Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB20260480
Last Updated: 12/19/2020
