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217 E Cambridge Street Long Beach, CA 90805

3 Beds 1 Baths 1,028 sqft Built 1944

$540,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1944
  • Price/Sqft : $525.29
  • 5 Days on Market
  • MLS # : MB20229867
  • Updated Date : 10/30/2020 at 20:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,028 sqft
  • Baths : 1 full
Listing Agent

Century 21 Realty Masters

Listing Agent's Description

This is the home you've been looking for!! This beautiful, spacious 3 bedroom 1 bath home is ready to move in. It is nestled in a quiet area of Long Beach. As you enter, you walk into an open floor plan living room, kitchen, and dining area great for entertaining. Lots of natural light in this completely remodeled home. There is a seperate laundry room along with an oversized finished garage ready for your personal touches.

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: Coolidge Triangle

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $146k622k

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

Neighborhood: Coolidge Triangle

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $11372941

* 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
Powell Academy For Success K-8 Primary Regular 1,377 49 6
Powell Academy For Success K-8 Middle Regular 1,377 49 6
Jordan High School High Regular 3,367 133 2

Powell Academy For Success K-8

  • Education Level: Primary
  • # of students: 1,377
  • # of teachers: 49
6
GreatSchools Rating

Powell Academy For Success K-8

  • Education Level: Middle
  • # of students: 1,377
  • # of teachers: 49
6
GreatSchools Rating

Jordan High School

  • Education Level: High
  • # of students: 3,367
  • # of teachers: 133
2
GreatSchools Rating
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,992
Property Tax -$588
Property Insurance -$52
Property Management Fees -$116
CASH FLOW
-$388

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$540,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$14,069

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $2.3

    LIST RENT PER SQFT
  • $2,361

    COMP ESTIMATED VALUE
  • $2.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,360
1$2,3602$2,3953$2,4504$2,500
$2,500
RENT COMPS ANALYSIS
  • 217 E Cambridge Street Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,028 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,028 Sqft ∙ Built 1944
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $2.30
    •  
  • 215 E Scott Street Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $2.34
    •  
  • 45 W Plymouth Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,096 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,096 Sqft ∙ Built 1955
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.24
    •  
  • 5480 Lime Avenue Long Beach, CA 4
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.31
    •  
PROPERTY LISTING DETAILS
Sylvia Barajas
Century 21 Realty Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: MB20229867
Last Updated: 10/30/2020
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