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1321 Harmony Way Torrance, CA 90501

4 Beds 4 Baths 2,010 sqft Built 2007

$749,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $372.64
  • 2 Days on Market
  • MLS # : PW21052501
  • Updated Date : 03/13/2021 at 19:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,010 sqft
  • Baths : 3 full , 1 half
Listing Agent

Reali, Inc

Listing Agent's Description

Look no further! Should you need 4 bedrooms and 3.5 bathrooms for your growing family, or just feel the need for space, here it is! This beautiful single family home, no attached walls, behind gates is waiting for you! Let's start with the new kitchen, new from the floor and cabinets up! This fantastic kitchen is open to both the family and dining room. This 3 level home is perfectly laid out. Enter and either go downstairs to a private bedroom with ensuite bathroom and here you will find access to the two car attached garage! From entry you can go up one level, to the kitchen, family room, bathroom, and door to rear yard! From this level, up one more and you will find 3 more bedrooms and 2 more bathrooms plus an upstairs laundry room! Plenty of storage, open light and bright! The seller has installed beautiful security screens on every door and the front door is an all inclusive security door. Leave some access doors open to enjoy that breeze! Most interior has been freshly painted. Back yard with putting green! At this price? Really? Come on, wont last long!

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MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Gateway L.A.

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $189k856k

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

Neighborhood: Gateway L.A.

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14893697

* 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
Alexander Fleming Middle School Middle Regular 1,508 60 6
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

Alexander Fleming Middle School

  • Education Level: Middle
  • # of students: 1,508
  • # of teachers: 60
6
GreatSchools Rating

Nathaniel Narbonne Senior High School

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

$674,100$823,900$749,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$2,602
Property Tax -$811
Property Insurance -$76
HOA -$101
Property Management Fees -$160
CASH FLOW
-$480

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.

$749,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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$20k

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$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$16,946

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $3,271

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,2004$3,2705$3,700
$3,700
RENT COMPS ANALYSIS
  • 1321 Harmony Way Torrance, CA 4
    • 4 beds 4 baths ∙ 2,010 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,010 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $1.63
    •  
  • 1317 Songbird Way Torrance, CA 1
    • 4 beds 4 baths ∙ 2,050 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,050 Sqft ∙ Built 2007
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.56
    •  
  • 22532 Venice Street Carson, CA 2
    • 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2005
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.59
    •  
  • 1314 Songbird Way Torrance, CA 3
    • 4 beds 4 baths ∙ 2,050 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,050 Sqft ∙ Built 2007
    property image
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.56
    •  
  • 22630 Meyler Street Torrance, CA 5
    • 5 beds 2 baths ∙ 2,058 Sqft ∙ Built 2016 5 beds 2 baths ∙ 2,058 Sqft ∙ Built 2016
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.80
    •  
PROPERTY LISTING DETAILS
Kathy Bradford
Reali, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21052501
Last Updated: 03/13/2021
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