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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Highland Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$214,835
LOAN DETAILS
$2,740
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $197,250 |
| Loan Amount | $591,750 |
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
-
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
Compass
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: P1-3452
Last Updated: 02/24/2021
