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3115 Weldon Avenue Eagle Rock, CA 90065

3 Beds 3 Baths 1,913 sqft Built 2020

$1,075,000

List Price

$4,280

$4K - $4.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $561.94
  • 3 Days on Market
  • MLS # : SR21006444
  • Updated Date : 01/15/2021 at 16:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,913 sqft
  • Baths : 3 full
Listing Agent

Johnhart Corp.

Listing Agent's Description

Located in the beautiful hills of Eagle Rock is a Brand New Constructed home with no expenses spared. This beyond stunning 3 bedrooms and 3 bathrooms retreat sits on a large 8,100-SqFt lot with an attached 2-car garage, offering breaking views with a great location that is adjacent to Eagle Rock and Highland Park. Inside find a nice bright open floor-plan with plank flooring, high ceilings, recessed lighting and a fireplace in the living room. The kitchen is a true Chefs space with immaculate countertops, top of the line appliances, as well as a center Island, perfect for bar stools. The Master bedroom has a walk-in closet, along with a private hotel styled bathroom complete with elegant fixtures and detailing. This home has a separate laundry room with cabinets and a sink. The back yard features a picture-perfect setting to entertain where you and your guests can relax on the patio and bask in all the beautiful green views.

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: Glassell Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $187k751k

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

Neighborhood: Glassell Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16353350

* 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
Fletcher Drive Elementary School Primary Regular 368 16 3
Washington Irving Middle School Math Music Engineering Mag Middle Regular 632 31 6
Puc Early College Academy For Leaders And Scholars High Charter 446 20 6

Fletcher Drive Elementary School

  • Education Level: Primary
  • # of students: 368
  • # of teachers: 16
3
GreatSchools Rating

Washington Irving Middle School Math Music Engineering Mag

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 31
6
GreatSchools Rating

Puc Early College Academy For Leaders And Scholars

  • Education Level: High
  • # of students: 446
  • # of teachers: 20
6
GreatSchools Rating
 

$967,500$1,182,500$1,075,000

PURCHASE PRICE

$3,852$4,708$4,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,280
EXPENSES Loan Payment -$3,734
Property Tax -$1,105
Property Insurance -$73
Property Management Fees -$210
CASH FLOW
-$842

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$1,075,000

PROJECTED PRICE

$4,280

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 3.00%
Vacancy 4.69%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$286,875

INVESTMENT

$286,875

Down Payment
$268,750
Rehab Estimate
$2,000
Closing Costs
$16,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,734

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $268,750
Loan Amount $806,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$17,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,280

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $4,343

    COMP ESTIMATED VALUE
  • $2.27

    COMP AVG. RENT PER SQFT
Comps Range
$3,950
1$3,9502$4,1503$4,2804$4,800
$4,800
RENT COMPS ANALYSIS
  • 3115 Weldon Avenue Eagle Rock, CA 3
    • 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,280
    • $2.24
    •  
  • 2980 Ripple Place Los Angeles, CA 1
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2016
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.15
    •  
  • 2700 E Chaucer Street Cypress Park, CA 2
    • 4 beds 4 baths ∙ 1,840 Sqft ∙ Built 2018 4 beds 4 baths ∙ 1,840 Sqft ∙ Built 2018
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $2.26
    •  
  • 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
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.40
    •  
PROPERTY LISTING DETAILS
Lilith Berko
Johnhart Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21006444
Last Updated: 01/15/2021
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