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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $484.11
- 6 Days on Market
- MLS # : 21683614
- Updated Date : 01/29/2021 at 07:30
CONSTRUCTION
- Beds : 3
- Floor Size : 2,580 sqft
- Baths : 3 full
Listing Agent
Compass
Listing Agent's Description
Contemporary design, showers of sunlight and gorgeous views make for a great find in prime Mt. Washington. The recently-remodeled home presents airy open space with soaring ceiling height, a fireplace centerpiece and a wall of glass framing canyon and mountain vistas. Flooring, floating stair treads and the exposed ceiling beams are crafted in custom woodwork; the kitchen features abundant counter space and stainless appliances. Three bedrooms include the impressive Primary, sequestered on its own level with a luxurious bath, walk-in closet and private viewing deck. Outdoor areas are easily accessible and perfect for lounging and dining under the sun and stars. Amenities include central heat+air, an Arlo smart doorbell and attached two-car garage. This choice location places you near Mt. Washington Elementary School and the hiking trails of Elyria Canyon Park. Head down the hill to trendy Figueroa Street and local favorites Civil Coffee, Kitchen Mouse, Cookbook Market and more.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Mount Washington
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mount Washington
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $4,330 |
EXPENSES | Loan Payment | -$4,338 |
Property Tax | -$1,298 | |
Property Insurance | -$89 | |
Property Management Fees | -$212 | |
CASH FLOW
-$1,607
|
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.
$1,249,000
PROJECTED PRICE
$4,330
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 4.48% |
Appreciation Year (1-5) | 10.0% |
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
$336,735
LOAN DETAILS
$4,338
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 3.75% |
Down Payment | $312,250 |
Loan Amount | $936,750 |
0.42
YEARS SAVED
$1,265
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,330
LIST RENT -
$1.68
LIST RENT PER SQFT
-
$3,922
COMP ESTIMATED VALUE -
$1.52
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Compass
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 21683614
Last Updated: 01/29/2021