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1639 Haynes Redondo Beach, CA 90278

3 Beds 1 Baths 924 sqft Built 1957

$969,000

List Price

$3,310

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $1,048.70
  • 3 Days on Market
  • MLS # : SB20244752
  • Updated Date : 11/27/2020 at 08:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 924 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Welcome to this bright and lovely 3 bedroom, 1 bath, single family home on Haynes in Redondo Beach! Located in the highly coveted Golden Hills area and close to Jefferson Elementary school, there is a dog park and playgrounds near-by. Entering through the front door, you are welcomed by an area perfect for entertaining, a freshly painted interior and ready for new owners. The kitchen has a large pantry and front facing window. The full bathroom has plenty of natural light, a full size tub and new vanity and sink. Gone is the wall heater replaced by an newer heating and air conditioning system. No more hot sticky nights! By adding a tankless water heater outside and removing the water heater in the kitchen, a wonderful kitchen pantry was built. The backyard space is great for entertaining, complete with pergola and space for connecting with the family. The 1 car garage has additional loft storage space and an updated garage door. Award-winning schools, close access to shopping and Hermosa Beach, this is the perfect place to call home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1143k

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

Neighborhood: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844464

* 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
Jefferson Elementary School Primary Regular 653 26 9
Jefferson Elementary School Middle Regular 653 26 9
Redondo Union High School High Regular 2,658 102 9

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 26
9
GreatSchools Rating

Jefferson Elementary School

  • Education Level: Middle
  • # of students: 653
  • # of teachers: 26
9
GreatSchools Rating

Redondo Union High School

  • Education Level: High
  • # of students: 2,658
  • # of teachers: 102
9
GreatSchools Rating
 

$872,100$1,065,900$969,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$3,575
Property Tax -$962
Property Insurance -$49
Property Management Fees -$162
CASH FLOW
-$1,438

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.

$969,000

PROJECTED PRICE

$3,310

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.7%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$262,535

INVESTMENT

$262,535

Down Payment
$242,250
Rehab Estimate
$5,750
Closing Costs
$14,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,575

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $242,250
Loan Amount $726,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,310

    LIST RENT
  • $3.58

    LIST RENT PER SQFT
  • $2,901

    COMP ESTIMATED VALUE
  • $3.14

    COMP AVG. RENT PER SQFT
Comps Range
$3,050
1$3,0502$3,3003$3,3104$3,4005$3,600
$3,600
RENT COMPS ANALYSIS
  • 1639 Haynes Redondo Beach, CA 3
    • 3 beds 1 baths ∙ 924 Sqft ∙ Built 1957 3 beds 1 baths ∙ 924 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $3,310
    • $3.58
    •  
  • 1735 Axenty Way Redondo Beach, CA 1
    • 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1962
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.97
    •  
  • 1710 Speyer Lane Redondo Beach, CA 2
    • 3 beds 1 baths ∙ 994 Sqft ∙ Built 1952 3 beds 1 baths ∙ 994 Sqft ∙ Built 1952
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $3.32
    •  
  • 500 N Paulina Avenue Redondo Beach, CA 4
    • 3 beds 1 baths ∙ 1,051 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,051 Sqft ∙ Built 1952
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $3.24
    •  
  • 1257 9th Street Hermosa Beach, CA 5
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.03
    •  
PROPERTY LISTING DETAILS
Lesley Siegel
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20244752
Last Updated: 11/27/2020
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