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PROPERTY INFO
FACTS
- Single Family
- Built In 1926
- Price/Sqft : $753.58
- 9 Days on Market
- MLS # : P1-3119
- Updated Date : 02/06/2021 at 10:43
CONSTRUCTION
- Beds : 3
- Floor Size : 1,258 sqft
- Baths : 1 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
This Storybook Romantic English Cottage in trendy & vibrant Eagle Rock retains its 1926 vintage architectural charm and warmth. Tucked away on a cul-de-sac of 4 character homes, it is quiet & cozy while near-panoramic views keep your senses connected to the Eagle Rock Valley. A spacious living room with elegant vaulted ceilings and a decorative fireplace also showcases the view to the landmark ''Eagle Rock'' across the valley floor. The refreshed vintage kitchen and breakfast nook also provide inspiring views. Recent upgrades (2019-2020) include exterior/interior paint, new electrical, new lighting fixtures, new roof, new gutters, refinished hardwood floors, custom made iron door, patios, retaining walls, central air & heating (2017), and partial copper plumbing.Located minutes from the energy of York, Eagle Rock, Figueroa and Colorado Blvd with great shops & hip eateries. This romantic & charming home boasts a fantastic Northeast LA location, amazing views and features that blend of the old and the new making it ready to move in and start that Eagle Rock lifestyle!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Eagle Rock
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Eagle Rock
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
Sorry, we do not have sufficient school data for this neighborhood.
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,410 |
| EXPENSES | Loan Payment | -$3,293 |
| Property Tax | -$985 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$167 | |
|
CASH FLOW
-$1,092
|
||
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.
$948,000
PROJECTED PRICE
$3,410
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 10.1% |
| 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
$256,970
LOAN DETAILS
$3,293
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $237,000 |
| Loan Amount | $711,000 |
0.67
YEARS SAVED
$2,580
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,410
LIST RENT -
$2.71
LIST RENT PER SQFT
-
$3,757
COMP ESTIMATED VALUE -
$2.99
COMP AVG. RENT PER SQFT
Comps Range
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4659 Oak Grove Circle Los Angeles, CA 1
- 3 beds 1 baths ∙ 1,258 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,258 Sqft ∙ Built 1926
- Rent
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- $3,410
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5120 Baltimore Street Highland Park, CA 2
- 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922
LEASED 07/03/20- Rent
- Rent Per SQFT
- $3,800
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4110 Verdugo View Drive Los Angeles, CA 3
- 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1938
LEASED 12/28/20- Rent
- Rent Per SQFT
- $4,300
- $2.99
-
4919 Highland View Avenue Los Angeles, CA 4
- 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1923
LEASED 01/15/20- Rent
- Rent Per SQFT
- $4,400
- $2.99
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: P1-3119
Last Updated: 02/06/2021
