645 N Cummings St · Los Angeles, CA 90033

$825,000

4 bd · 2.0 ba · 3,430 sqft · MultiFamily public records · 47 Days on market

Built 1931 5,369 sqft lot $241/sqft · 15% below area Est $973k · 15% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.0/30.0
• ARV discount +14.4/15.0
• DSCR +5.3/10.0
• 1% rule +4.4/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

TREMENDOUS UPSIDE! This well-maintained duplex presents a rare opportunity for significant rental growth in the rapidly evolving Boyle Heights market. Each spacious unit offers approximately 1,715 sq ft, featuring 5 bedrooms and 2 bathrooms an uncommon and highly desirable layout ideal for maximizing rental income and attracting long-term tenants. Tenants pay all utilities, resulting in minimal landlord expenses limited to property taxes and insurance, with no ongoing operating costs or maintenance concerns making this an efficient, income-producing investment. Situated in a quiet residential neighborhood, the property offers a unique balance of suburban tranquility and proximity to ongoing

Key facts

• Spacious unit
• Unique layout
• Prime location

Tags

• SPACIOUS UNIT
• UNIQUE LAYOUT
• QUIET RESIDENTIAL NEIGHBORHOOD
• PRIME LOCATION

Property features AI

Finance

• Financial info: Actual annual gross rent: $62,141.64; Gross operating income: $62,141; Net operating income: $46,497.64; Total annual expenses: $15,644; Garage income listed as $62,141; Gross rent multiplier: 5.31; Unit 1 current rent: $2,472.40 (projected $4,000); Unit 2 current rent: $2,706 (projected $4,000); Scheduled/Actual: Actual
• HOA & community: Complex totals 2 units

Exterior

• Parking: Driveway with concrete paving
• Utilities: Tenants pay electric, gas, water, trash, and gardener
• Home design: Residential income property (duplex); Two-level building; Zoning: LAR2
• Construction: One building
• Exterior features: No other structures

Interior

• Kitchen: Range/oven; Garbage disposal
• Bedrooms: Unit 1: 5 bedrooms; Unit 2: 5 bedrooms
• Bathrooms: Unit 1: 2 bathrooms; Unit 2: 2 bathrooms
• Heating & cooling: Forced air heating; Wall/window unit cooling
• Interior features: Garbage disposal; Range/oven
• Laundry & utility: Has water heaters

What this means for you Summary

Snapshot

• This is a 2 × 5-bed/2.0-bath units multifamily listed at $825k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive. Per door: $281/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $772k (6.5% below list).
• Recommended offer: $772k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-2.3%/yr); 108 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $7,717/mo this rent would consume 155% of the median local household income ($60k/yr) (locally 3159% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($800k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $50k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $700k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $771,700 (6.5% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.92%
• DSCR: 1.13
• GRM: 8.9

CMA / ARV

• ARV (median comp): $973,256
• List price: $825,000
• Delta: -15.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
459 Forest Ave	0.67mi	4/2.0	3,013 (-12%)	14mo	$760,000	$252	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.48×
• Total profit: $-120,540
• Equity at exit: $123,010

10-year hold

• IRR: -12.3%
• Equity multiple: 0.37×
• Total profit: $-146,277
• Equity at exit: $71,331

Cash invested: $231,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90033

• Home prices YoY: -29.9%
• Rents YoY: -2.3%
• Active inventory: 108
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $7,717 high
• Mortgage (P&I): −$4,326
• Tax from tax record: −$865 /mo · $10,380/yr
• Insurance: −$344
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,621
• Net cashflow: $561

Break-even live

Break-even rent $7,007

Max offer price $825,000

Occupancy floor 88%

Sensitivity live

Price	-10% $1,028	-5% $795	+0% $561	+5% $328	+10% $94
Rent	-10% $-48	-5% $256	+0% $561	+5% $866	+10% $1,171
Rate	-1.0pp $977	-0.5pp $771	base $561	+0.5pp $347	+1.0pp $130

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	5	2	$7,718
Total (2 units)			$7,717

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $206,250
• Closing costs: $24,750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $825,000 Active 47 DOM
2. 2026-06-18
   days on market $825,000 Active 44 DOM
3. 2026-06-17
   days on market $825,000 Active 43 DOM
4. 2026-06-16
   days on market $825,000 Active 42 DOM
5. 2026-06-16
   price $825,000 Active 41 DOM
6. 2026-06-15
   days on market $875,000 Active 41 DOM
7. 2026-06-13
   days on market $875,000 Active 39 DOM
8. 2026-06-09
   days on market $875,000 Active 35 DOM
9. 2026-06-08
   days on market $875,000 Active 34 DOM
10. 2026-06-07
    days on market $875,000 Active 33 DOM
11. 2026-06-04
    days on market $875,000 Active 30 DOM
12. 2026-06-03
    days on market $875,000 Active 29 DOM
13. 2026-06-02
    days on market $875,000 Active 28 DOM
14. 2026-06-01
    days on market $875,000 Active 27 DOM
15. 2026-05-31
    days on market $875,000 Active 26 DOM
16. 2026-05-01
    listed $875,000 Active 967-char remark
17. 2022-10-03
    soldstatus $700,000 Sold
18. 2022-10-03
    soldstatus $700,000
19. 2022-10-03
    soldstatus $700,000
20. 2022-09-01
    historical Backup Offers Accepted
21. 2022-07-25
    listed $799,000 Active
22. 2022-07-25
    listed $799,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $10,380 · $865/mo
• Projected year-2 tax: $10,380 · $865/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥94°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $92,604
• − Mortgage interest: −$46,213
• − Property taxes: −$10,380
• − Insurance: −$4,125
• − Repairs & maintenance: −$7,408
• − Management: −$7,408
• − Depreciation: −$24,000
• Taxable loss: −$6,931
• Est. tax savings @ 24.0%: +$1,663
• After-tax cash flow: $8,398/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 45,647
• Household income: $59,652
• Rent vs Own: 82.4% rent · 17.6% own
• Severe rent burden: 3159.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (90%)
• Race & ethnicity: Hispanic / Latino 90% Two or more races 13% Asian 4% White 3% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 75%
• Foreign-born: 43% · Canada, South Korea, China
• Languages at home: 16% English-only · Spanish 80% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.59%
• Current HPI: 472.4588
• Rent YoY: ▼ -2.34%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+3.3% since first listed

8 events — show timeline

• 2026-06-16 Price Changed $825,000 TheMLS
• 2026-05-01 Listed $875,000 TheMLS
• 2022-10-03 Sold (Public Records) $700,000 Public Records
• 2022-10-03 Sold (MLS) $700,000 SDMLS
• 2022-10-03 Sold (MLS) $700,000 TheMLS
• 2022-09-01 Contingent — TheMLS
• 2022-07-25 Listed $799,000 SDMLS
• 2022-07-25 Listed $799,000 TheMLS

Property tax history

+15.5%/yr

Latest (2025): $10,380 · +1.2% YoY. Source: county tax records.