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PROPERTY INFO
FACTS
- Single Family
- Built In 1925
- Price/Sqft : $598.10
- 3 Days on Market
- MLS # : 21694816
- Updated Date : 02/19/2021 at 14:22
CONSTRUCTION
- Beds : 3
- Floor Size : 1,998 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Soar with the eagles in this Eagle Rock hillside home. This private and gated home, originally built in 1925 underwent an extensive addition in the early 2000's adding an open floor plan main living area, en suite master bedroom with spa tub and walk in closet as well as the large two car garage with additional storage space. Boasting 1998 sqft of living space on an 8580 sqft lot features include 3 bedrooms and two baths. A separate lower level basement/workshop room with separate entrance and half bath makes for an ideal workspace complete with work bench/station. For the gardener there is a deep lot with shed and two planting beds. Many mature cactus enhance the setting and a wonderful old oak tree anchors the back NE corner of the lot. From both the master bedroom and the main floor living area are two covered balconies to take in the verdant views of the San Gabriel mountains and 180 degrees views of the hillsides beyond. A large front pergola helps to frame in the cozy front yard and cover the front porch. A long driveway, partially covered, leads you to the oversized garage.
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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)
- 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
- 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: 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 | $4,000 |
| EXPENSES | Loan Payment | -$4,151 |
| Property Tax | -$1,242 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$196 | |
|
CASH FLOW
-$1,663
|
||
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.
$1,195,000
PROJECTED PRICE
$4,000
PROJECTED RENT
0.33%
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
$322,425
LOAN DETAILS
$4,151
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $298,750 |
| Loan Amount | $896,250 |
0.25
YEARS SAVED
$422
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,000
LIST RENT -
$2
LIST RENT PER SQFT
-
$4,540
COMP ESTIMATED VALUE -
$2.27
COMP AVG. RENT PER SQFT
Comps Range
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- $4,100
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LEASED 03/08/20- Rent
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- $4,200
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- 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1926 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1926
LEASED 02/10/20- Rent
- Rent Per SQFT
- $4,300
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5126 Hermosa Avenue Los Angeles, CA 5
- 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 1913 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 1913
LEASED 10/29/19- Rent
- Rent Per SQFT
- $4,500
- $2.33
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 21694816
Last Updated: 02/19/2021
