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3078 Inez Street Los Angeles, CA 90023

4 Beds 3 Baths 1,431 sqft Built 2008

$639,999

List Price

$3,430

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $447.24
  • 5 Days on Market
  • MLS # : DW21056136
  • Updated Date : 03/19/2021 at 17:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,431 sqft
  • Baths : 3 full
Listing Agent

Nueva Real Estate

Listing Agent's Description

Beautiful Newly remodeled 4 Bedroom 3 bathroom home in the City of Los Angeles right in the heart of Boyle Heights. Home offers a great curb appeal and private front yard. The homes remodeled features include new windows, new flooring, and newly painted exterior and interior. The open living room and dining room lead to the recently remodeled kitchen for a comfortable entertaining area. Spacious two car garage is detached to the property and allows you the option to convert into an ADU (Accessory Dwelling Unit). Conveniently located near the 60 fwy and the 5 fwy very near Downtown LA.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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: 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
Euclid Avenue Elementary School Primary Regular 818 35 4
Robert Louis Stevenson Middle School Middle Regular 1,593 62 3
Felicitas And Gonzalo Mendez High School High Regular 792 37 3

Euclid Avenue Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 35
4
GreatSchools Rating

Robert Louis Stevenson Middle School

  • Education Level: Middle
  • # of students: 1,593
  • # of teachers: 62
3
GreatSchools Rating

Felicitas And Gonzalo Mendez High School

  • Education Level: High
  • # of students: 792
  • # of teachers: 37
3
GreatSchools Rating
 

$575,999$703,999$639,999

PURCHASE PRICE

$3,087$3,773$3,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,430
EXPENSES Loan Payment -$2,223
Property Tax -$665
Property Insurance -$61
Property Management Fees -$168
CASH FLOW
$313

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.

$639,999

PROJECTED PRICE

$3,430

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$175,350

INVESTMENT

$175,350

Down Payment
$160,000
Rehab Estimate
$5,750
Closing Costs
$9,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$2,223

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $160,000
Loan Amount $479,999
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$84,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,430

    LIST RENT
  • $2.4

    LIST RENT PER SQFT
  • $3,434

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$3,430
1$3,4302$3,6003$3,695
$3,695
RENT COMPS ANALYSIS
  • 3078 Inez Street Los Angeles, CA 1
    • 4 beds 3 baths ∙ 1,431 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,431 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,430
    • $2.40
    •  
  • 2469 E 7th Street Los Angeles, CA 2
    • 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 2020
    property image
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.40
    •  
  • 2507 E Cincinnati Street Los Angeles, CA 3
    • 4 beds 4 baths ∙ 1,540 Sqft ∙ Built 2020 4 beds 4 baths ∙ 1,540 Sqft ∙ Built 2020
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $2.40
    •  
PROPERTY LISTING DETAILS
Jose Perez
Nueva Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21056136
Last Updated: 03/19/2021
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