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1110 E Jackson Street Long Beach, CA 90805

3 Beds 2 Baths 1,359 sqft Built 1948

$599,999

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $441.50
  • 12 Days on Market
  • MLS # : PW20237536
  • Updated Date : 11/20/2020 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,359 sqft
  • Baths : 2 full
Listing Agent

Century 21 On Target

Listing Agent's Description

This exceptionally upgraded single-story home is located on a tree-lined street in an interior tract neighborhood of North Long Beach. Recently renovated 3 bed / 2 bath home has a huge resort-like backyard with no neighbors behind it, perfect for parties and family gatherings at every holiday! This charming home features hardwood floors throughout, a newly renovated kitchen, plus stainless steel appliances and designer tile floors. Cozy up to the fireplace in your suite-like master bedroom that also features a walk-in closet and master bathroom with soaking tub. Walk out from the master bedroom's sliding door to your beautiful backyard anytime. A new gated vinyl fence was also recently installed in the backyard. Don't miss out on this lovely home, it won't last long!

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: Lindbergh

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $148k622k

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

Neighborhood: Lindbergh

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $11702941

* 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
Barton Elementary School Primary Regular 609 25 4
Lindbergh Stem Academy Middle Regular 603 25 4
Jordan High School High Regular 3,367 133 2

Barton Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 25
4
GreatSchools Rating

Lindbergh Stem Academy

  • Education Level: Middle
  • # of students: 603
  • # of teachers: 25
4
GreatSchools Rating

Jordan High School

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

$539,999$659,999$599,999

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,214
Property Tax -$650
Property Insurance -$60
Property Management Fees -$135
CASH FLOW
-$309

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.

$599,999

PROJECTED PRICE

$2,750

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 6.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$25,269

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $2.02

    LIST RENT PER SQFT
  • $2,732

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,7504$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 1110 E Jackson Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.02
    •  
  • 220 E 51st Street Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1948
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.87
    •  
  • 5480 Lime Avenue Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.31
    •  
  • 138 E Louise Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1937
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
  • 4743 Boyar Avenue Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1942
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.97
    •  
PROPERTY LISTING DETAILS
Mod O'connell
Century 21 On Target
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20237536
Last Updated: 11/20/2020
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