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1243 E Millmont Street Carson, CA 90746

3 Beds 2 Baths 1,696 sqft Built 1961

$750,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
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.

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: North Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $174k622k

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

Neighborhood: North Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $14553104

* 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
Annalee Avenue Elementary School Primary Regular 267 12 2
Glenn Hammond Curtiss Middle School Middle Regular 581 30 5
Rancho Dominguez Prepatory School High Regular 1,115 47 3

Annalee Avenue Elementary School

  • Education Level: Primary
  • # of students: 267
  • # of teachers: 12
2
GreatSchools Rating

Glenn Hammond Curtiss Middle School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 30
5
GreatSchools Rating

Rancho Dominguez Prepatory School

  • Education Level: High
  • # of students: 1,115
  • # of teachers: 47
3
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

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
$2,800
1$2,8002$2,9803$3,0004$3,1955$3,395
$3,395
RENT COMPS ANALYSIS
  • 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
Jayme Muniz
The Realestate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21004276
Last Updated: 01/09/2021
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