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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $527.62
- 4 Days on Market
- MLS # : PW20262377
- Updated Date : 12/24/2020 at 09:54
CONSTRUCTION
- Beds : 4
- Floor Size : 1,611 sqft
- Baths : 2 full
Listing Agent
Re/max R. E. Specialists
Listing Agent's Description
Perfect pool home for those who like big gatherings (post Covid-19) and/or lots of space. The back yard is the place to be in this home. Featuring a sparkling pool including a slide and water cave with secret entrance, a private six-person spa, plenty of gathering/lounging areas and surrounding murals to make this a tropical paradise. Inside features a large living room with an adjacent dining area big enough to seat 12. Beyond the dining area and open to the living room is a huge family room with fireplace, access to the incredible pool and pass through to kitchen. There are four spacious bedrooms, one featuring a secret walk in closet, three hall closets and a dropdown attic ladder giving you plenty of storage and private space. The kitchen, includes direct access to the two-car garage and boasts solid surface counters, ceramic tile floors, plenty of storage, pass through to family room and includes both the stove and fridge. The front bath includes a marble counter and flooring, new deep tub and plenty of storage. The second bath features a new shower and an exterior door to the backyard pool area. More house highlights include beautiful ceramic flooring though out, fans in every room, solar tubes for natural light, an enclosed front privacy porch, updated electric with 220v and a two-car garage with room for two cars and plenty of storage cabinets.
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MARKET HIGHLIGHTS
- 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)
- 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]
PRICE & RENT TRENDS
Neighborhood: El Dorado Park South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: El Dorado Park South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,200 |
| EXPENSES | Loan Payment | -$3,136 |
| Property Tax | -$898 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$157 | |
|
CASH FLOW
-$1,057
|
||
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.
$850,000
PROJECTED PRICE
$3,200
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 4.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$231,000
LOAN DETAILS
$3,136
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $212,500 |
| Loan Amount | $637,500 |
0.67
YEARS SAVED
$2,523
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,200
LIST RENT -
$1.99
LIST RENT PER SQFT
-
$3,444
COMP ESTIMATED VALUE -
$2.14
COMP AVG. RENT PER SQFT
Comps Range
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1963 Stevely Avenue Long Beach, CA 2
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- $3,200
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12061 Foster Road Rossmoor, CA 1
- 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1957
LEASED 05/11/20- Rent
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- $3,000
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1945 Shipway Avenue Long Beach, CA 3
- 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1954
LEASED 09/15/20- Rent
- Rent Per SQFT
- $3,300
- $2.02
-
11441 Wembley Road Los Alamitos, CA 4
- 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1959
LEASED 03/13/20- Rent
- Rent Per SQFT
- $3,650
- $2.10
-
11371 Loch Lomand Road Rossmoor, CA 5
- 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1960
LEASED 11/20/20- Rent
- Rent Per SQFT
- $3,700
- $2.31
PROPERTY LISTING DETAILS
Re/max R. E. Specialists
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20262377
Last Updated: 12/24/2020
