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1108 E 67th Street Long Beach, CA 90805

3 Beds 1 Baths 1,168 sqft Built 1947

$595,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $509.42
  • 6 Days on Market
  • MLS # : PW20258225
  • Updated Date : 12/19/2020 at 13:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,168 sqft
  • Baths : 1 full
Listing Agent

Nationwide Real Estate Execs

Listing Agent's Description

HONEY STOP THE CAR**** This is your dream home. This beautiful home Boasts 3 extra large bedrooms, big spacious kitchen suitable for a large family or just to enjoy. 1 extra large bathroom, plus a surprise finished garage, with inside laundry, hardwood floors, Open floor plan, extra long driveway provide multiple parking additionally. Huge back yard with covered patio, and plenty of outdoor space for entertainment or just plain relaxation. The Back Yard is huge because this is a large oversize lot. This is one you cannot afford to miss. This home is great if you are a first time home buyer or a investor. it's close to all the major Public transportations include the 91,710 and 405 Freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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]
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)

PRICE & RENT TRENDS

Neighborhood: Hamilton

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $147k622k

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

Neighborhood: Hamilton

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12142941

* 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
Grant Elementary School Primary Regular 1,101 39 5
Hamilton Middle School Middle Regular 922 32 5
Jordan High School High Regular 3,367 133 2

Grant Elementary School

  • Education Level: Primary
  • # of students: 1,101
  • # of teachers: 39
5
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 32
5
GreatSchools Rating

Jordan High School

  • Education Level: High
  • # of students: 3,367
  • # of teachers: 133
2
GreatSchools Rating
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,195
Property Tax -$645
Property Insurance -$55
Property Management Fees -$126
CASH FLOW
-$442

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.

$595,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 13.3%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$14,531

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $2.21

    LIST RENT PER SQFT
  • $2,786

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5003$2,5004$2,5805$2,595
$2,595
RENT COMPS ANALYSIS
  • 1108 E 67th Street Long Beach, CA 4
    • 3 beds 1 baths ∙ 1,168 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,168 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $2.21
    •  
  • 215 E Scott Street Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $2.34
    •  
  • 6544 Johnson Avenue Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,069 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,069 Sqft ∙ Built 1950
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.34
    •  
  • 5480 Lime Avenue Long Beach, CA 3
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.31
    •  
  • 6675 Lime Avenue Long Beach, CA 5
    • 3 beds 1 baths ∙ 1,016 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,016 Sqft ∙ Built 1944
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $2.55
    •  
PROPERTY LISTING DETAILS
Audrey Flemmings
Nationwide Real Estate Execs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20258225
Last Updated: 12/19/2020
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