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18229 Mettler Avenue Carson, CA 90746

3 Beds 1 Baths 1,386 sqft Built 1953

$699,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $504.33
  • 7 Days on Market
  • MLS # : SB21054647
  • Updated Date : 03/20/2021 at 16:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,386 sqft
  • Baths : 1 full
Listing Agent

Keller Williams South Bay

Listing Agent's Description

Ready to move in 3 Bedrooms and 1 bath with a good floorplan. Livingroom and dining room and nicely rehabbed kitchen and bathroom. This house comes with a back studio and bathroom and a laundry room. Backyard is landscaped and ready for family entertainment. Also has several fruit trees including an Avocado tree that's lively. This is a house that is well desired. House is short drive to the 110,91 & 405 Freeway.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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 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
Towne Avenue Elementary School Primary Regular 348 14 6
Glenn Hammond Curtiss Middle School Middle Regular 581 30 5
Glenn Hammond Curtiss Middle School Middle Unknown NA

Towne Avenue Elementary School

  • Education Level: Primary
  • # of students: 348
  • # of teachers: 14
6
GreatSchools Rating

Glenn Hammond Curtiss Middle School

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

Glenn Hammond Curtiss Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,428
Property Tax -$786
Property Insurance -$61
Property Management Fees -$134
CASH FLOW
-$678

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.

$699,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.39%

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-$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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,337

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $2,831

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,730
1$2,7302$3,0003$3,0004$3,2005$3,395
$3,395
RENT COMPS ANALYSIS
  • 18229 Mettler Avenue Carson, CA 1
    • 3 beds 1 baths ∙ 1,386 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,386 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $1.97
    •  
  • 17330 Billings Drive Carson, CA 2
    • 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
    •  
  • 330 E Sherman Drive Carson, CA 3
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1963
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.08
    •  
  • 17003 S New Hampshire Avenue Gardena, CA 4
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1949 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1949
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.09
    •  
  • 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
Gerry Nicks
Keller Williams South Bay
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21054647
Last Updated: 03/20/2021
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