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2103 Stevely Avenue Long Beach, CA 90815

3 Beds 1 Baths 1,365 sqft Built 1954

$799,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $585.35
  • 3 Days on Market
  • MLS # : PW20245160
  • Updated Date : 11/27/2020 at 19:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,365 sqft
  • Baths : 1 full
Listing Agent

Sharon Amarantos, Broker

Listing Agent's Description

This beautiful 3 bedroom 2 bath home is situated on the west side of Stevely Avenue in a lovely quiet interior tract location. Entering the home, you'll appreciate the fresh paint, recessed lighting, lovely plantation shutters and dark laminate flooring. The open floorplan provides a seamless transition from the living room to the dining room and the fantastic kitchen. The kitchen includes a breakfast bar, stainless steel appliances, an enormous pantry off the dining room, and lovely stone countertops. The master bedroom features an en-suite bathroom complete with an enormous stall shower with custom tile. Each of the other 2 bedrooms are good sized, feature nice windows, ceiling fans, good closet space and carpeting. The guest bathroom is conveniently located in the hallway and features a bathtub with custom tile, and a vanity with granite countertop. The large backyard is perfect for entertaining with several seating areas and an above-ground spa. There's a long driveway to a 2 car insulated detached garage with plenty of storage. Other fantastic features include recessed lights, crown moulding, plantation shutters, carpet in the bedrooms, dual pane windows, central A/C and heat, copper plumbing, new blown-in insulation, 200 amp electrical with 220v for the 2 EV chargers, and solar! The owned solar system provides all of the electricity the sellers need, even with 2 electric vehicles! Tincher K-8 and Millikan High School

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: El Dorado Park South

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: El Dorado Park South

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14493697

* 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
Tincher Preparatory School Primary Magnet 851 31 9
Tincher Preparatory School Middle Magnet 851 31 9
Millikan High School High Magnet 3,753 145 7

Tincher Preparatory School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 31
9
GreatSchools Rating

Tincher Preparatory School

  • Education Level: Middle
  • # of students: 851
  • # of teachers: 31
9
GreatSchools Rating

Millikan High School

  • Education Level: High
  • # of students: 3,753
  • # of teachers: 145
7
GreatSchools Rating
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$2,948
Property Tax -$845
Property Insurance -$60
Property Management Fees -$152
CASH FLOW
-$895

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.

$799,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$5,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $2.28

    LIST RENT PER SQFT
  • $3,122

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0003$3,1104$3,3005$3,475
$3,475
RENT COMPS ANALYSIS
  • 2103 Stevely Avenue Long Beach, CA 3
    • 3 beds 1 baths ∙ 1,365 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,365 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $2.28
    •  
  • 2535 Ostrom Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,327 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,327 Sqft ∙ Built 1951
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.22
    •  
  • 12061 Foster Road Rossmoor, CA 2
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1957
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.12
    •  
  • 6902 E Bacarro Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1954
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.33
    •  
  • 1911 N Hidden Lane Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1965
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $2.48
    •  
PROPERTY LISTING DETAILS
Sharon Amarantos
Sharon Amarantos, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20245160
Last Updated: 11/27/2020
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