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1556 Hyannis Lane San Pedro, CA 90732

3 Beds 3 Baths 1,773 sqft Built 1997

$785,000

List Price

$3,220

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $442.75
  • 3 Days on Market
  • MLS # : 221000007
  • Updated Date : 01/02/2021 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,773 sqft
  • Baths : 3 full
Listing Agent

Engel & Voelkers, Westlake Village

Listing Agent's Description

Located behind The Cape's community gates, this charming cape cod inspired residence is in a private enclave at the top of San Pedro right at the base of Rancho Palos Verdes. Uniquely situated on an oversized lot, this is one of the few homes in the neighborhood with a spacious, grassy backyard and an additional side patio off the kitchen. Updated with exquisite taste and gorgeous finishes, the designer-appointed interiors are warm and welcoming. Upgrades abound, including wide plank engineered hardwood flooring, plantation shutter window treatments and a modern open floorplan for comfortable living. The kitchen is a chef's delight, featuring granite countertops, center island with bar stool seating, stainless steel appliances, and more! Upstairs, the grand master bedroom is light and airy with an abundance of natural light. Experience resort-style living at its finest, with nearby beaches, parks, country clubs, golf courses, fine dining and shopping. Enjoy the best of Southern California's luxury lifestyle!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northwest San Pedro

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Northwest San Pedro

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17133697

* 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
7th Street Elementary School Primary Regular 518 22 3
Richard Henry Dana Middle School Middle Regular 1,528 59 2
San Pedro Senior High School High Regular 2,668 104 6

7th Street Elementary School

  • Education Level: Primary
  • # of students: 518
  • # of teachers: 22
3
GreatSchools Rating

Richard Henry Dana Middle School

  • Education Level: Middle
  • # of students: 1,528
  • # of teachers: 59
2
GreatSchools Rating

San Pedro Senior High School

  • Education Level: High
  • # of students: 2,668
  • # of teachers: 104
6
GreatSchools Rating
 

$706,500$863,500$785,000

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$2,896
Property Tax -$792
Property Insurance -$70
HOA -$140
Property Management Fees -$158
CASH FLOW
-$836

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.

$785,000

PROJECTED PRICE

$3,220

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.8%
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-$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$213,775

INVESTMENT

$213,775

Down Payment
$196,250
Rehab Estimate
$5,750
Closing Costs
$11,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,896

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $196,250
Loan Amount $588,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$6,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,220

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,023

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,2203$3,300
$3,300
RENT COMPS ANALYSIS
  • 1556 Hyannis Lane San Pedro, CA 2
    • 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,220
    • $1.82
    •  
  • 460 W 18th Street San Pedro, CA 1
    • 4 beds 3 baths ∙ 1,625 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,625 Sqft ∙ Built 2013
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.72
    •  
  • 1829 Newport Ter San Pedro, CA 3
    • 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 1998
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.69
    •  
PROPERTY LISTING DETAILS
Heather Higgins
Engel & Voelkers, Westlake Village
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 221000007
Last Updated: 01/02/2021
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