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5372 Candace Place Los Angeles, CA 90041

3 Beds 1 Baths 1,740 sqft Built 1950

$1,029,000

List Price

$3,820

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $591.38
  • 8 Days on Market
  • MLS # : P1-2933
  • Updated Date : 01/17/2021 at 19:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 1 full
Listing Agent

Norm Haley Real Estate

Listing Agent's Description

Tranquil and beautiful property in hip and wonderful Eagle Rock. This charming home is perched above the street on a quiet and private cul de sac. First time on the market in over 30 years. This house needs a variety of updates, but it is light and brightand has a wonderful yard with many areas to entertain friends, or sit and relax. This is a trust sale. Don't miss this great opportunity to buy this wonderful house and make it your home by adding your own touches and improvements.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Eagle Rock

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Eagle Rock

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843752

* 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
Dahlia Heights Elementary School Primary Regular 374 16 6
Eagle Rock High School Middle Regular 2,469 95 7
Eagle Rock High School High Regular 2,469 95 7

Dahlia Heights Elementary School

  • Education Level: Primary
  • # of students: 374
  • # of teachers: 16
6
GreatSchools Rating

Eagle Rock High School

  • Education Level: Middle
  • # of students: 2,469
  • # of teachers: 95
7
GreatSchools Rating

Eagle Rock High School

  • Education Level: High
  • # of students: 2,469
  • # of teachers: 95
7
GreatSchools Rating
 

$926,100$1,131,900$1,029,000

PURCHASE PRICE

$3,438$4,202$3,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,820
EXPENSES Loan Payment -$3,574
Property Tax -$1,069
Property Insurance -$69
Property Management Fees -$187
CASH FLOW
-$1,079

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.

$1,029,000

PROJECTED PRICE

$3,820

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$278,435

INVESTMENT

$278,435

Down Payment
$257,250
Rehab Estimate
$5,750
Closing Costs
$15,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,574

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $257,250
Loan Amount $771,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$5,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,820

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $4,254

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$3,8203$4,0004$4,2005$4,450
$4,450
RENT COMPS ANALYSIS
  • 5372 Candace Place Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,740 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,740 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,820
    • $2.20
    •  
  • 431 Cherry Drive Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1958
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.44
    •  
  • 1413 Brixton Road Pasadena, CA 3
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1954
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.50
    •  
  • 2656 E Glenoaks Boulevard Glendale, CA 4
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1935
    property image
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.38
    •  
  • 2641 Hollister Terrace Glendale, CA 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1935
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $2.46
    •  
PROPERTY LISTING DETAILS
Alexander Varga
Norm Haley Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2933
Last Updated: 01/17/2021
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