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1942 W 84th Place Los Angeles, CA 90047

3 Beds 1 Baths 1,278 sqft Built 1926

$695,000

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $543.82
  • 2 Days on Market
  • MLS # : DW21152206
  • Updated Date : 07/12/2021 at 19:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,278 sqft
  • Baths : 1 full
Listing Agent

Century 21 Allstars

Listing Agent's Description

Just listed great 3beds 1bath in excellent condition located close to shops restaurants stadiums ect just a great home in a great area

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MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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)
  • 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)
  • 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)
  • 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: Manchester Square

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k725k

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

Neighborhood: Manchester Square

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183316

* 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
La Salle Avenue Elementary School Primary Regular 439 19 1
Horace Mann Middle School Middle Regular 425 19 NA
George Washington Preparatory Senior High School High Regular 1,175 64 2

La Salle Avenue Elementary School

  • Education Level: Primary
  • # of students: 439
  • # of teachers: 19
1
GreatSchools Rating

Horace Mann Middle School

  • Education Level: Middle
  • # of students: 425
  • # of teachers: 19
NA
GreatSchools Rating

George Washington Preparatory Senior High School

  • Education Level: High
  • # of students: 1,175
  • # of teachers: 64
2
GreatSchools Rating
 

$625,500$764,500$695,000

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$2,414
Property Tax -$732
Property Insurance -$58
Property Management Fees -$138
CASH FLOW
-$531

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.

$695,000

PROJECTED PRICE

$2,810

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 12.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,414

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $2,984

    COMP ESTIMATED VALUE
  • $2.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,8103$3,0004$3,2005$3,495
$3,495
RENT COMPS ANALYSIS
  • 1942 W 84th Place Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,278 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,278 Sqft ∙ Built 1926
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $2.20
    •  
  • 1433 W 81st Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 1925
    LEASED 07/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $2.47
    •  
  • 2110 W 84th Street Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1929
    LEASED 04/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.23
    •  
  • 2110 W 81st Street Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1930
    LEASED 05/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.46
    •  
  • 2704 84th Place Inglewood, CA 5
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1938 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1938
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.18
    •  
PROPERTY LISTING DETAILS
Victor Soto
Century 21 Allstars
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21152206
Last Updated: 07/12/2021
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