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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $594.03
- 5 Days on Market
- MLS # : 20654440
- Updated Date : 12/02/2020 at 11:45
CONSTRUCTION
- Beds : 3
- Floor Size : 1,978 sqft
- Baths : 2 full , 1 half
Listing Agent
Landpac Properties
Listing Agent's Description
Silverlake Modern featuring beautiful open living spaces with 9/10 foot ceilings. Gourmet kitchen with Fisher Paykel S/S 36" stove/Refrigerator/Double Dishwasher, with polished concrete countertop, access to patio for BBQ and entertaining. Spacious master suite with en suite bath features dual shower and rain head. French doors access to spacious painted outdoor patio. Very Energy efficient with good insulation; Dual glazed aluminum contemporary windows, sound absorbing walls, motion sensor bathroom lights, dimmer switches on all rooms, tankless water heater, sunlight sensing patio lights, cool white roof. Pre-wired network cables, GFCI outlets, automatic fire suppression system, keyless entry. Easy access to Highway 2, 5 and 110, less than 5 miles to downtown LA. Interior and exterior including two out door patio floors has been painted on recently. Ready to move in before the New Year.
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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: Silver Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Silver Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,790 |
| EXPENSES | Loan Payment | -$4,335 |
| Property Tax | -$1,195 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$235 | |
|
CASH FLOW
-$1,049
|
||
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.
$1,175,000
PROJECTED PRICE
$4,790
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 8.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| 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
$317,125
LOAN DETAILS
$4,335
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $293,750 |
| Loan Amount | $881,250 |
2.08
YEARS SAVED
$19,339
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,790
LIST RENT -
$2.42
LIST RENT PER SQFT
-
$4,180
COMP ESTIMATED VALUE -
$2.11
COMP AVG. RENT PER SQFT
Comps Range
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2463 Corralitas Drive Los Angeles, CA 3
- 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $4,790
- $2.42
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3631 Loosmore Street Los Angeles, CA 1
- 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1993
LEASED 05/21/20- Rent
- Rent Per SQFT
- $3,000
- $1.79
-
2980 Ripple Place Los Angeles, CA 2
- 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2016
LEASED 02/27/20- Rent
- Rent Per SQFT
- $3,950
- $2.15
-
3577 Kinney Street Los Angeles, CA 4
- 4 beds 4 baths ∙ 1,998 Sqft ∙ Built 2017 4 beds 4 baths ∙ 1,998 Sqft ∙ Built 2017
LEASED 10/27/20- Rent
- Rent Per SQFT
- $4,800
- $2.40
PROPERTY LISTING DETAILS
Landpac Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20654440
Last Updated: 12/02/2020
