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979 Dexter Street Highland Park, CA 90042

3 Beds 1 Baths 951 sqft Built 1925

$789,000

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1925
  • Price/Sqft : $829.65
  • 7 Days on Market
  • MLS # : P1-3452
  • Updated Date : 02/24/2021 at 15:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 951 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Gorgeous, private, creative retreat.1925 character home with great views and beautifully landscaped garden.3 bedrooms and one bathroom .Close proximity to York Blvd in much sought afer Highland Park.

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MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Highland Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $153k763k

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

Neighborhood: Highland Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183338

* 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
Buchanan Street Elementary School Primary Regular 508 23 5
Luther Burbank Middle School Middle Regular 883 36 5
Benjamin Franklin High School High Regular 1,460 56 6

Buchanan Street Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 23
5
GreatSchools Rating

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 36
5
GreatSchools Rating

Benjamin Franklin High School

  • Education Level: High
  • # of students: 1,460
  • # of teachers: 56
6
GreatSchools Rating
 

$710,100$867,900$789,000

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$2,740
Property Tax -$809
Property Insurance -$50
Property Management Fees -$139
CASH FLOW
-$908

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.

$789,000

PROJECTED PRICE

$2,830

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$214,835

INVESTMENT

$214,835

Down Payment
$197,250
Rehab Estimate
$5,750
Closing Costs
$11,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,740

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,250
Loan Amount $591,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $2.98

    LIST RENT PER SQFT
  • $2,720

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,830
1$2,8302$3,3333$3,800
$3,800
RENT COMPS ANALYSIS
  • 979 Dexter Street Highland Park, CA 1
    • 3 beds 1 baths ∙ 951 Sqft ∙ Built 1925 3 beds 1 baths ∙ 951 Sqft ∙ Built 1925
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $2.98
    •  
  • 2683 Moss Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1921 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1921
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,333
    • $2.74
    •  
  • 5120 Baltimore Street Highland Park, CA 3
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.98
    •  
PROPERTY LISTING DETAILS
Alison Gilbert
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-3452
Last Updated: 02/24/2021
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