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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $440.36
- 3 Days on Market
- MLS # : SB20239593
- Updated Date : 11/13/2020 at 21:43
CONSTRUCTION
- Beds : 3
- Floor Size : 1,224 sqft
- Baths : 2 full
Listing Agent
Berkshire Hathaway Homeservices California Properties
Listing Agent's Description
Welcome to this bright and charming, approximately 1,224 sq ft (per Assessor), 3 bedroom, 1.5 bath home in Carson. This lovely home has a remodeled kitchen, updated bathrooms and wood laminate flooring throughout. You'll be pleasantly surprised by the storage and cupboard space in the kitchen with newer counters. Start the morning with a cup of coffee and the paper in the quaint kitchen nook area and enjoy dinner in the dining room which flows into the spacious living room. The living room is filled with natural light from the sliding glass door leading to the backyard. There are two bedrooms tucked away off of the hallway and the third bedroom which could be an ideal office or guest room with added privacy from the other bedrooms. All bedrooms are complete with ceiling fans and are filled with natural light during the day. The spacious back yard is a blank canvas to make your own...patio area, grass area or both? This beautifully maintained, move-in ready home is walking distance to the local high school and close proximity to Caroldale Learning Community (K-8) and Veteran's Park, a popular community resource for sports and other activities and events. Easy access to the freeway, shopping and local eateries. Welcome home!
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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: South Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,590 |
| EXPENSES | Loan Payment | -$1,989 |
| Property Tax | -$613 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
-$195
|
||
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.
$539,000
PROJECTED PRICE
$2,590
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 5.8% |
| 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
$148,585
LOAN DETAILS
$1,989
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $134,750 |
| Loan Amount | $404,250 |
4.58
YEARS SAVED
$29,785
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,590
LIST RENT -
$2.12
LIST RENT PER SQFT
-
$2,384
COMP ESTIMATED VALUE -
$1.95
COMP AVG. RENT PER SQFT
Comps Range
-
129 W 226th Place Carson, CA 2
- 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1956
- Rent
- Rent Per SQFT
- $2,590
- $2.12
-
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
-
6 Millward Lane Carson, CA 3
- 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1963
LEASED 10/05/20- Rent
- Rent Per SQFT
- $2,700
- $1.90
-
21244 Menlo Avenue Torrance, CA 4
- 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1969
LEASED 09/28/19- Rent
- Rent Per SQFT
- $2,800
- $1.89
-
203 W 226th Place Carson, CA 5
- 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1956
LEASED 06/28/19- Rent
- Rent Per SQFT
- $2,990
- $1.95
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservices California Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB20239593
Last Updated: 11/13/2020
