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1943 Hancock Street Los Angeles, CA 90031

4 Beds 2 Baths 1,543 sqft Built 1907

$650,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1907
  • Price/Sqft : $421.26
  • 6 Days on Market
  • MLS # : WS20241754
  • Updated Date : 11/17/2020 at 14:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,543 sqft
  • Baths : 2 full
Listing Agent

Kw Vision

Listing Agent's Description

Location is Great in Lincoln Heights, close to Downtown LA, Chinatown, Dodgers stadium, major highways such as Golden State, San Bernardino, Pomona and Hollywood freeway! Great access to public transportation also! Large Drive way Can Accommodate a family of cars. Detached Garage is a possibility for an Additional Dwelling Unit. Spacious bedrooms and large living area make it a great home!

SEE MORE

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: Lincoln Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $153k725k

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

Neighborhood: Lincoln Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15883316

* 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
Griffin Avenue Elementary School Primary Regular 552 24 4
Florence Nightingale Middle School Middle Regular 716 41 4
Abraham Lincoln Senior High School High Regular 1,219 54 5

Griffin Avenue Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 24
4
GreatSchools Rating

Florence Nightingale Middle School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 41
4
GreatSchools Rating

Abraham Lincoln Senior High School

  • Education Level: High
  • # of students: 1,219
  • # of teachers: 54
5
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,398
Property Tax -$675
Property Insurance -$64
Property Management Fees -$142
CASH FLOW
-$389

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.

$650,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 10.5%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$22,951

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $3,109

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,7003$2,890
$2,890
RENT COMPS ANALYSIS
  • 1943 Hancock Street Los Angeles, CA 3
    • 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 1907 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 1907
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $1.87
    •  
  • 2510 Boulder Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1910 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1910
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $2.07
    •  
  • 4612 Topaz Street Los Angeles, CA 2
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1904 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1904
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.96
    •  
PROPERTY LISTING DETAILS
Hanh Hoang
Kw Vision
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20241754
Last Updated: 11/17/2020
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