2503 Cincinnati · Los Angeles, CA 90033

$1,199,000

2 bd · 1.0 ba · 3,626 sqft · MultiFamily public records · 44 Days on market

Built 1911 7,004 sqft lot $331/sqft · 64% above area Est $1321k · 9% under ↓ 14% since listing

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Why this score? — see what drove the D- 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).

• ARV discount +11.7/15.0
• Cash flow +9.0/30.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Discover the perfect blend of residential and commercial potential with this versatile mixed-use property! Offering a total of 5 units, 4 are spacious residential units, each boasting three bedrooms and two bathrooms. Every unit provides a private yard/patio, laundry, parking, and separate utility meters, ensuring convenience and privacy. The ground-level commercial space, invites entrepreneurial possibilities with its street visibility. This property offers a rare opportunity to live, rent, and invest all in one! Also a good opportunity for developers. Located near downtown and public transportation.

Key facts

• Street visibility
• Private yard
• Parking

Tags

• PRIVATE YARD
• LAUNDRY
• PARKING
• SEPARATE UTILITY METERS
• GROUND-LEVEL COMMERCIAL SPACE
• STREET VISIBILITY

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/?-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $-949 ($-11k/yr) — negative. Per door: $-237/mo.
• To cash-flow at today's rent, offer at most $1.03M (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $845k (29.5% below list).
• Recommended offer: $845k (29.5% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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); 107 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,449/mo this rent would consume 170% 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 $8k of loan paydown is wiped out by about $36k 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 44 days — a 3% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1911 — 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 $844,900 (29.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.70% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.39%
• DSCR: 0.85
• GRM: 11.8

CMA / ARV

• ARV (median comp): $1,321,074
• List price: $1,199,000
• Delta: -9.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -25.1%
• Equity multiple: 0.17×
• Total profit: $-279,793
• Equity at exit: $178,775

10-year hold

• IRR: -32.4%
• Equity multiple: -0.25×
• Total profit: $-418,320
• Equity at exit: $103,668

Cash invested: $335,720 (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: 107
• Price-to-rent: 47.3×

Monthly cashflow live

• Estimated rent: $8,449 high
• Mortgage (P&I): −$6,288
• Tax from tax record: −$837 /mo · $10,041/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,774
• Net cashflow: $-949

Break-even live

Break-even rent $9,651

Max offer price $1,031,297

Occupancy floor —

Sensitivity live

Price	-10% $-271	-5% $-610	+0% $-949	+5% $-1,289	+10% $-1,628
Rent	-10% $-1,617	-5% $-1,283	+0% $-949	+5% $-616	+10% $-282
Rate	-1.0pp $-346	-0.5pp $-644	base $-949	+0.5pp $-1,260	+1.0pp $-1,576

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	—	$8,448
Total (4 units)			$8,449

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: $299,750
• Closing costs: $35,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
512 S St Louis St Los Angeles, CA	1.0	1.0	4414	$1,100	$0.25	25d	1	0.80mi

Listing history 19 events

1. 2026-06-18
   days on market $1,199,000 Active 44 DOM
2. 2026-06-17
   days on market $1,199,000 Active 43 DOM
3. 2026-06-16
   days on market $1,199,000 Active 42 DOM
4. 2026-06-15
   days on market $1,199,000 Active 41 DOM
5. 2026-06-13
   days on market $1,199,000 Active 39 DOM
6. 2026-06-09
   days on market $1,199,000 Active 35 DOM
7. 2026-06-08
   days on market $1,199,000 Active 34 DOM
8. 2026-06-07
   days on market $1,199,000 Active 33 DOM
9. 2026-06-04
   days on market $1,199,000 Active 30 DOM
10. 2026-06-03
    days on market $1,199,000 Active 29 DOM
11. 2026-06-02
    days on market $1,199,000 Active 28 DOM
12. 2026-06-01
    days on market $1,199,000 Active 27 DOM
13. 2026-05-31
    days on market $1,199,000 Active 26 DOM
14. 2026-05-05
    listed $1,199,000 Active 608-char remark

    Show marketing remark (608 chars)

    Discover the perfect blend of residential and commercial potential with this versatile mixed-use property! Offering a total of 5 units, 4 are spacious residential units, each boasting three bedrooms and two bathrooms. Every unit provides a private yard/patio, laundry, parking, and separate utility meters, ensuring convenience and privacy. The ground-level commercial space, invites entrepreneurial possibilities with its street visibility. This property offers a rare opportunity to live, rent, and invest all in one! Also a good opportunity for developers. Located near downtown and public transportation.

15. 2026-05-04
    historical
16. 2025-11-24
    price $1,299,000
17. 2025-10-20
    listed $1,349,000 Active
18. 2025-10-07
    historical
19. 2025-06-23
    listed $1,399,000 Active

ⓘ 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: $10,041 · $837/mo
• Projected year-2 tax: $10,041 · $837/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 5/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $101,388
• − Mortgage interest: −$67,163
• − Property taxes: −$10,041
• − Insurance: −$5,995
• − Repairs & maintenance: −$8,111
• − Management: −$8,111
• − Depreciation: −$34,880
• Taxable loss: −$32,913
• Est. tax savings @ 24.0%: +$7,899
• After-tax cash flow: $-3,493/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

-14.3% since first listed

6 events — show timeline

• 2026-05-05 Listed $1,199,000 CRMLS
• 2026-05-04 Listing Removed — CRMLS
• 2025-11-24 Price Changed $1,299,000 CRMLS
• 2025-10-20 Listed $1,349,000 CRMLS
• 2025-10-07 Listing Removed — CRMLS
• 2025-06-23 Listed $1,399,000 CRMLS

Property tax history

+4.1%/yr

Latest (2025): $10,041 · +1.4% YoY. Source: county tax records.