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PROPERTY INFO
FACTS
- Single Family
- Built In 2017
- Price/Sqft : $511.61
- 3 Days on Market
- MLS # : 20664348
- Updated Date : 11/27/2020 at 08:33
CONSTRUCTION
- Beds : 4
- Floor Size : 1,464 sqft
- Baths : 3 full
Listing Agent
Premier Realty Associates
Listing Agent's Description
This modern NEW CONSTRUCTION home with amazing views, wonderful breezes, is nestled in the boomtown of Rose Hills, adjacent to Montecito Heights can be yours at an affordable price! Minutes from Downtown L.A., Silver Lake, South Pasadena and Alhambra, close to the highly acclaimed Montecito Hills, Debs Park with miles of hiking trails, crowned by the pond at the summit! The home has a spacious open plan, with all of the modern amenities where singles or families can grow on a quiet street at the crossroads of two cul-de-sacs. The kitchen is a chef's delight appointed with glistening granite countertops accented with plenty of cupboards. The listing agent has lived in this wonderful neighborhood for over 20 years and is proud to present this home!
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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: Monterey Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Monterey Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,210 |
| EXPENSES | Loan Payment | -$2,763 |
| Property Tax | -$778 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$157 | |
|
CASH FLOW
-$551
|
||
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.
$749,000
PROJECTED PRICE
$3,210
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 12.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| 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
$204,235
LOAN DETAILS
$2,763
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $187,250 |
| Loan Amount | $561,750 |
2.67
YEARS SAVED
$18,996
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,210
LIST RENT -
$2.19
LIST RENT PER SQFT
-
$3,997
COMP ESTIMATED VALUE -
$2.73
COMP AVG. RENT PER SQFT
Comps Range
-
4141 Raynol Street Los Angeles, CA 1
- 4 beds 3 baths ∙ 1,464 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,464 Sqft ∙ Built 2017
- Rent
- Rent Per SQFT
- $3,210
- $2.19
-
1877 Peterson Avenue South Pasadena, CA 2
- 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 2002
LEASED 07/01/20- Rent
- Rent Per SQFT
- $4,250
- $2.73
PROPERTY LISTING DETAILS
Premier Realty Associates
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20664348
Last Updated: 11/27/2020
