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PROPERTY INFO
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
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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
* 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 | $3,110 |
| 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
| 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
$217,485
LOAN DETAILS
$2,948
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $199,750 |
| Loan Amount | $599,250 |
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
-
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, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20245160
Last Updated: 11/27/2020
