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PROPERTY INFO
FACTS
- Single Family
- Built In 1961
- Price/Sqft : $442.22
- 3 Days on Market
- MLS # : SB21004276
- Updated Date : 01/09/2021 at 15:56
CONSTRUCTION
- Beds : 3
- Floor Size : 1,696 sqft
- Baths : 2 full
Listing Agent
The Realestate Group
Listing Agent's Description
Gorgeous home in Carson. Recently remodeled and updated. This home features 3 spacious bedroom, 2 bathroom (1 fully remodeled), smooth ceiling, new laminated flooring throughout, family room with wood beamed ceiling, updated kitchen, dual pane windows, enclosed patio and a large lot. The backyard is big enough to entertain family and friends, enjoy a BBQ party or just start your own vegetable garden. Fenced gated front yard, room to park a RV or store a boat on the side yard. The 2 car garage has direct access from the interior of the home. Excellent home for first time buyer, a growing family or someone looking to make this home his/her own paradise.
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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: North Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,980 |
| EXPENSES | Loan Payment | -$2,605 |
| Property Tax | -$843 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$146 | |
|
CASH FLOW
-$682
|
||
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.
$750,000
PROJECTED PRICE
$2,980
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 7.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,500
LOAN DETAILS
$2,605
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
1.5
YEARS SAVED
$7,328
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,980
LIST RENT -
$1.76
LIST RENT PER SQFT
-
$3,278
COMP ESTIMATED VALUE -
$1.93
COMP AVG. RENT PER SQFT
Comps Range
-
1243 E Millmont Street Carson, CA 2
- 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1961
- Rent
- Rent Per SQFT
- $2,980
- $1.76
-
812 E Meadbrook Street Carson, CA 1
- 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 1968
LEASED 05/01/20- Rent
- Rent Per SQFT
- $2,800
- $1.90
-
17330 Billings Drive Carson, CA 3
- 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1966
LEASED 10/06/20- Rent
- Rent Per SQFT
- $3,000
- $2.02
-
19327 Harlan Avenue Carson, CA 4
- 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1964
LEASED 12/23/20- Rent
- Rent Per SQFT
- $3,195
- $1.83
-
20003 Pricetown Avenue Carson, CA 5
- 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1971
LEASED 07/30/20- Rent
- Rent Per SQFT
- $3,395
- $1.98
PROPERTY LISTING DETAILS
The Realestate Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB21004276
Last Updated: 01/09/2021
