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PROPERTY INFO
FACTS
- Single Family
- Built In 1966
- Price/Sqft : $592.11
- 3 Days on Market
- MLS # : CV21056669
- Updated Date : 03/20/2021 at 11:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,064 sqft
- Baths : 1 full , 1 half
Listing Agent
Home Heights Realty
Listing Agent's Description
Close to everywhere you want to be. This home has 3 spacious bedrooms, two bathrooms. Third bedroom has an (unpermitted) en-suite that is like a spa. The gorgeous kitchen has been completely remodeled with custom cabinets and quartz countertops. Gated front yard, long driveway and covered patio. Detached garage. Improvements throughout. Professional photos to follow. Only a few driving minutes from Cal State LA, 10, 60, & 710 Freeways!
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MARKET HIGHLIGHTS
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
- 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)
- 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)
- 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 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)
PRICE & RENT TRENDS
Neighborhood: East Los Angeles
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Los Angeles
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,500 |
| EXPENSES | Loan Payment | -$2,188 |
| Property Tax | -$739 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
-$603
|
||
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.
$630,000
PROJECTED PRICE
$2,500
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 10.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| 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
$172,700
LOAN DETAILS
$2,188
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $157,500 |
| Loan Amount | $472,500 |
1.5
YEARS SAVED
$4,867
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,500
LIST RENT -
$2.35
LIST RENT PER SQFT
-
$2,663
COMP ESTIMATED VALUE -
$2.5
COMP AVG. RENT PER SQFT
Comps Range
-
833 Cordova Avenue East Los Angeles, CA 3
- 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1966
![property image]()
- Rent
- Rent Per SQFT
- $2,500
- $2.35
-
3924 Dwiggins Street Los Angeles, CA 1
- 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963
![property image]()
LEASED 07/09/20- Rent
- Rent Per SQFT
- $2,500
- $2.70
-
1920 Avenida Cesar Chavez Monterey Park, CA 2
- 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1950
![property image]()
LEASED 06/20/20- Rent
- Rent Per SQFT
- $2,500
- $2.12
-
500 W Floral Drive Monterey Park, CA 4
- 3 beds 1 baths ∙ 1,026 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,026 Sqft ∙ Built 1948
![property image]()
LEASED 07/10/20- Rent
- Rent Per SQFT
- $2,600
- $2.53
-
2346 Woods Avenue Monterey Park, CA 5
- 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1950
![property image]()
LEASED 02/05/21- Rent
- Rent Per SQFT
- $2,950
- $2.66
PROPERTY LISTING DETAILS
Home Heights Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21056669
Last Updated: 03/20/2021
