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6415 Madden Avenue Los Angeles, CA 90043

4 Beds 3 Baths 1,763 sqft Built 1923

$849,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1923
  • Price/Sqft : $481.57
  • 17 Days on Market
  • MLS # : 21687006
  • Updated Date : 02/12/2021 at 19:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,763 sqft
  • Baths : 3 full
Listing Agent

The Agency

Listing Agent's Description

Looking for a home with adaptable spaces to comfortably shelter in place, conduct business, e-school and a private yard? What about a detached 200 SF flex space with vaulted ceilings (including a kitchenette and bath), and a finished shed built to escape without actually leaving your home that can be your meditation space, Zoom room, dedicated home office, or podcast studio? Immerse yourself in the freshly-landscaped yards, porches, decks-perfect for morning coffee, al fresco dining, cocktails. A spacious, well-lit living area offers ample light and opens to a custom kitchen with an array of cabinetry and stainless steel appliances. A primary retreat with ensuite and French doors is past the kitchen. A separate entrance opens to the side yard with custom pavers, privacy fencing, engagement, and living areas. Please note that square footage includes all covered structures; rec room sf is permitted, some sf may be grandfathered.

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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: Hyde Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $153k725k

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

Neighborhood: Hyde Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183316

* 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
Young Empowered Scholars Academy Primary Regular 626 30 NA
Horace Mann Middle School Middle Regular 425 19 NA
Crenshaw Magnets- Science Tech Engineer Math And Medicine High Magnet 981 54 2

Young Empowered Scholars Academy

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 30
NA
GreatSchools Rating

Horace Mann Middle School

  • Education Level: Middle
  • # of students: 425
  • # of teachers: 19
NA
GreatSchools Rating

Crenshaw Magnets- Science Tech Engineer Math And Medicine

  • Education Level: High
  • # of students: 981
  • # of teachers: 54
2
GreatSchools Rating
 

$764,100$933,900$849,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,949
Property Tax -$894
Property Insurance -$69
Property Management Fees -$138
CASH FLOW
-$1,230

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$849,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 12.4%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,949

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$157

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $3,614

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,820
1$2,8202$3,2003$3,2004$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 6415 Madden Avenue Los Angeles, CA 1
    • 4 beds 3 baths ∙ 1,763 Sqft ∙ Built 1923 4 beds 3 baths ∙ 1,763 Sqft ∙ Built 1923
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.60
    •  
  • 5438 Hillcrest Drive Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1923
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.23
    •  
  • 5910 S Van Ness Avenue Los Angeles, CA 3
    • 4 beds 3 baths ∙ 1,804 Sqft ∙ Built 1907 4 beds 3 baths ∙ 1,804 Sqft ∙ Built 1907
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.77
    •  
  • 8225 West Boulevard Inglewood, CA 4
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1940
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.01
    •  
  • 6204 Brynhurst Avenue Los Angeles, CA 5
    • 5 beds 3 baths ∙ 1,600 Sqft ∙ Built 1923 5 beds 3 baths ∙ 1,600 Sqft ∙ Built 1923
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.19
    •  
PROPERTY LISTING DETAILS
Carlos Castillo
The Agency
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21687006
Last Updated: 02/12/2021
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