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This page contains aggregated information about each property, and is not intended to serve as an appraisal. Projections for accumulated wealth, cash flow and equity are based on predictive models used to analyze big data on more than 110 million homes. Learn more about INVESTimate

10407 Gorman Ave Los Angeles, CA 90002

2 Beds 1 Baths 1,174 sqft Built 1947
Last updated:  Jan 23, 2020

INVESTimate

$370,367

$349K - $391K

Price Est.

$1,931

$1.7K - $2.2K

Rent Est.

$418,885  ( +13.1%)   1 YR EST. FORECAST
  
  
  

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10407 Gorman Ave PROPERTY INFO

FACTS
  • Built In 1947
  • Price/Sqft : $315.47
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,174 sqft
  • Baths : 1 Full

10407 Gorman Ave SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
WEIGAND AVENUE ELEMENTARY SCHOOL Primary Regular 416 21 1
EDWIN MARKHAM MIDDLE SCHOOL Middle Regular 1,164 62 1
ANIMO COLLEGE PREPARATORY ACADEMY High Charter 386 21 NA

WEIGAND AVENUE ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 21
1
GreatSchools Rating

EDWIN MARKHAM MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 62
1
GreatSchools Rating

ANIMO COLLEGE PREPARATORY ACADEMY

  • Education Level: High
  • # of students: 386
  • # of teachers: 21
-1
GreatSchools Rating
 

Financial Details

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Neighborhood

Watts

  • 43,554

    POPULATION
  • 9,911

    HOUSEHOLDS
  • 28.6%

    WHITE COLLAR

Neighborhood : Watts

HOUSEHOLDS
9,911
POPULATION

43,554

69.1%Renters
30.9%Home Owners
LABOR FORCE

 

28.6%White Collar
71.4%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 97% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,931 per month.

MY RENT : $1,931 MEDIAN RENT : $2,208

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 2.6%
>=$1,500 97.4%
Household Rent Affordability

According to U.S. Department of Housing and Urban Development, families that use more than 30% of their income to pay for housing are considered cost burdened. A target rent of $1,931 would therefore be considered affordable for annual household incomes greater than $77,240 (12 months x 3.333 x $1,931).

Rent % Affordability
Above $500 61.3%
Above $700 48.7%
Above $1,100 29.8%
Above $1,500 18.9%
Above $1,900 11.1%
HOUSEHOLD INCOME RANGE

Approximately 839 of households in this neighborhood have a total annual income of $77,240 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,931 per month.

MINIMUM INCOME RANGE : $77,240

Income % Distribution
<$20K 38.7%
$20K-$35K 21.7%
$35K-$60K 20.7%
$60K-$100K 13.6%
>=$100K 5.4%
COMMUTE TIME DISTRIBUTION

63% of the working population has a commute time of 15 to 44 minutes, 10% has a commute time of 14 minutes or less and 27% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.1%
5-9 mins 2.1%
10-14 mins 6.5%
15-19 mins 10.0%
20-29 mins 20.6%
30-44 mins 32.4%
45-59 mins 10.9%
>60 mins 16.3%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 97% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,931 per month.

MY RENT : $1,931 MEDIAN RENT : $2,208

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 2.6%
>=$1,500 97.4%
Household Rent Affordability

According to U.S. Department of Housing and Urban Development, families that use more than 30% of their income to pay for housing are considered cost burdened. A target rent of $1,931 would therefore be considered affordable for annual household incomes greater than $77,240 (12 months x 3.333 x $1,931).

Rent % Affordability
Above $500 61.3%
Above $700 48.7%
Above $1,100 29.8%
Above $1,500 18.9%
Above $1,900 11.1%
HOUSEHOLD INCOME RANGE

Approximately 839 of households in this neighborhood have a total annual income of $77,240 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,931 per month.

MINIMUM INCOME RANGE : $77,240

Income % Distribution
<$20K 38.7%
$20K-$35K 21.7%
$35K-$60K 20.7%
$60K-$100K 13.6%
>=$100K 5.4%
COMMUTE TIME DISTRIBUTION

63% of the working population has a commute time of 15 to 44 minutes, 10% has a commute time of 14 minutes or less and 27% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.1%
5-9 mins 2.1%
10-14 mins 6.5%
15-19 mins 10.0%
20-29 mins 20.6%
30-44 mins 32.4%
45-59 mins 10.9%
>60 mins 16.3%

Watts Demographics

INDUSTRY

Industry % Distribution
Administrative Support 8.7%
Arts & Entertainment 9.3%
Construction 8.8%
Health Care & Social Assistance 11.5%
Manufacturing 13.6%
Retail & Wholesale Trader 18.8%
Other 29.2%
AGE DISTRIBUTION

43% of the population is between the ages of 25 and 64, 52% is 24 or younger and 5% is 65 or older.

Age % Distribution
<15 32.3%
15-19 10.2%
20-24 9.5%
25-44 25.8%
45-65 17.1%
66+ 5.1%
OCCUPATION

Occupation % Distribution
Clean 9.4%
Management, Business, & Financial 4.4%
Natural Resources Maintenance 14.2%
PCare 4.2%
Production & Transportation 28.8%
Sales & Office 23.2%
Other 15.8%
HIGHEST EDUCATION LEVEL

4% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 3.3%
High School 27.1%
Masters Degree 0.4%
Some College 15.9%
Some High School 49.9%
Other 3.3%

10407 Gorman Ave Comps

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10407 Gorman Ave, Los Angeles, CA 90002 is a single family home of 1,174 sqft. HomeUnion INVESTimateĀ® for 10407 Gorman Ave includes a Price Estimate of $370,367 and a Rent Estimate of $1,931. This single family home has 2 bedrooms,1 bathrooms, and was built in 1947. This property has an estimated 15 year annualized Yield of 6.26% and Total Return of 37.01%. The estimated 1 year forecast in home value for 10407 Gorman Ave is 13.1%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in CA , LOS ANGELES County , or the 90002 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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