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18630 Milmore Avenue Carson, CA 90746

4 Beds 2 Baths 1,679 sqft Built 1964

$699,000

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $416.32
  • 3 Days on Market
  • MLS # : OC21004086
  • Updated Date : 01/09/2021 at 16:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,679 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This beautiful home rests in a nice and quiet family neighborhood, right here in North Carson, and is just minutes away from major freeways (91, 405, 110), parks, shopping centers, attractions, and schools; including CSU Dominguez Hills, Victoria Park, and The Links Golf Course, to name a few. This home features 4 bedrooms, 2 bathrooms, a spacious 2-car attached garage, and a large, 6-car driveway. The house is in need of a few minor cosmetic repairs, but everything is functional, and many features have been either replaced or remodeled within the last few years; such as, the kitchen, cabinets, lighting, HVAC, and more. This home is ready to welcome it’s new owners and is truly a unique and rare find! Please contact listing agent for more details – this is an opportunity you DO NOT want to miss!

SEE MORE

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: 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
Rancho Dominguez Prepatory School High Regular 1,115 47 3

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

Rancho Dominguez Prepatory School

  • Education Level: High
  • # of students: 1,115
  • # of teachers: 47
3
GreatSchools Rating
 

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

PURCHASE PRICE

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$2,428
Property Tax -$765
Property Insurance -$68
Property Management Fees -$154
CASH FLOW
-$265

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

$3,150

PROJECTED RENT

0.45%

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

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 55% 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

4.33

YEARS SAVED

$29,543

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,150

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $3,278

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0003$3,1504$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 18630 Milmore Avenue Carson, CA 3
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.88
    •  
  • 812 E Meadbrook Street Carson, CA 1
    • 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 1968
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.90
    •  
  • 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
    •  
  • 555 E Bradenhall Drive Carson, CA 4
    • 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1963
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.01
    •  
  • 430 E 184th Street Carson, CA 5
    • 4 beds 1 baths ∙ 1,752 Sqft ∙ Built 1953 4 beds 1 baths ∙ 1,752 Sqft ∙ Built 1953
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.88
    •  
PROPERTY LISTING DETAILS
Vanessa Hasbun
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21004086
Last Updated: 01/09/2021
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