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6013 Condon Avenue Windsor Hills, CA 90056

3 Beds 2 Baths 1,742 sqft Built 1948

$1,049,900

List Price

$3,860

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $602.70
  • 3 Days on Market
  • MLS # : DW21029955
  • Updated Date : 02/12/2021 at 13:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,742 sqft
  • Baths : 2 full
Listing Agent

Remax College Park Realty

Listing Agent's Description

Perfect opportunity to own this charming home waiting for a buyer to make it their own. Property consists on 3 bedrooms, 2 bath, and family room,fireplace, spacious kitchen, dining area, with an ideal floor plan to customize to your style. Exterior features long driveway with 2 car detached garage & in ground pool! Property is located in close proximity to parks, schools, shopping centers, LAX, and of course SoFi Stadium.

SEE MORE

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: View Park-Windsor Hills

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k882k

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

Neighborhood: View Park-Windsor Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17843965

* 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
Inglewood High School High Regular 1,207 56 3

Inglewood High School

  • Education Level: High
  • # of students: 1,207
  • # of teachers: 56
3
GreatSchools Rating
 

$944,910$1,154,890$1,049,900

PURCHASE PRICE

$3,474$4,246$3,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,860
EXPENSES Loan Payment -$3,647
Property Tax -$1,086
Property Insurance -$69
Property Management Fees -$189
CASH FLOW
-$1,131

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.

$1,049,900

PROJECTED PRICE

$3,860

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 11.1%
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$283,974

INVESTMENT

$283,974

Down Payment
$262,475
Rehab Estimate
$5,750
Closing Costs
$15,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,647

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $262,475
Loan Amount $787,425
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,749

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,860

    LIST RENT
  • $2.22

    LIST RENT PER SQFT
  • $3,954

    COMP ESTIMATED VALUE
  • $2.27

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,8603$3,9504$4,0005$4,495
$4,495
RENT COMPS ANALYSIS
  • 6013 Condon Avenue Windsor Hills, CA 2
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,860
    • $2.22
    •  
  • 6174 Buckingham Culver City, CA 1
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1967
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.28
    •  
  • 6102 Acacia Street Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1948
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.34
    •  
  • 5577 Onacrest Drive Los Angeles, CA 4
    • 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1940 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1940
    property image
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.25
    •  
  • 4253 Don Jose Drive Los Angeles, CA 5
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1959 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1959
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $2.21
    •  
PROPERTY LISTING DETAILS
Tony Yepez
Remax College Park Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21029955
Last Updated: 02/12/2021
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