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1109 Jay Street Torrance, CA 90502

3 Beds 2 Baths 1,180 sqft Built 1953

$624,999

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $529.66
  • 5 Days on Market
  • MLS # : DW20237886
  • Updated Date : 11/11/2020 at 15:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,180 sqft
  • Baths : 2 full
Listing Agent

Uptown, Realtors

Listing Agent's Description

Standard sale, Cozy Ranch style home, located facing south on a residential street with street lights, sidewalks and curb/gutters. Across the street from Meyler St Elementary School. Easy access to parks, schools, places of worship, shopping and freeway access. 3 bedroom 2 bathroom home with many upgrades and modernization, well maintained. Large family room with fireplace. Storage areas in rear and large covered patio. Attached 1 car garage with interior access and built in Carport. Must see to appreciated.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: West Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $174k779k

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

Neighborhood: West Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15863321

* 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
Meyler Street Elementary School Primary Regular 788 33 4
Stephen M White Middle School Middle Regular 1,656 64 5
Nathaniel Narbonne Senior High School High Regular 2,596 104 4

Meyler Street Elementary School

  • Education Level: Primary
  • # of students: 788
  • # of teachers: 33
4
GreatSchools Rating

Stephen M White Middle School

  • Education Level: Middle
  • # of students: 1,656
  • # of teachers: 64
5
GreatSchools Rating

Nathaniel Narbonne Senior High School

  • Education Level: High
  • # of students: 2,596
  • # of teachers: 104
4
GreatSchools Rating
 

$562,499$687,499$624,999

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,306
Property Tax -$690
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$550

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$624,999

PROJECTED PRICE

$2,630

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,749
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $2.23

    LIST RENT PER SQFT
  • $2,631

    COMP ESTIMATED VALUE
  • $2.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,180
1$2,1802$2,6303$2,8004$2,8005$3,100
$3,100
RENT COMPS ANALYSIS
  • 1109 Jay Street Torrance, CA 2
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $2.23
    •  
  • 23202 Sesame Street Torrance, CA 1
    • 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1973
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $2.05
    •  
  • 539 W 224th Place Carson, CA 3
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1959
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.25
    •  
  • 21802 Archibald Avenue Carson, CA 4
    • 4 beds 1 baths ∙ 1,222 Sqft ∙ Built 1957 4 beds 1 baths ∙ 1,222 Sqft ∙ Built 1957
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.29
    •  
  • 21310 Jaffrey Avenue Torrance, CA 5
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1960
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.33
    •  
PROPERTY LISTING DETAILS
Jeannette Casas
Uptown, Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20237886
Last Updated: 11/11/2020
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