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2201 Tulane Avenue Long Beach, CA 90815

3 Beds 1 Baths 1,140 sqft Built 1951

$819,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $718.42
  • 4 Days on Market
  • MLS # : RS21035649
  • Updated Date : 03/05/2021 at 14:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,140 sqft
  • Baths : 1 full
Listing Agent

Dream Life Real Estate

Listing Agent's Description

Welcome to 2201 Tulane Avenue! Located on a beautiful tree lined street and right across the street from Los Altos Park, this amazing 3-bed/1.75-bath home is an entertainers dream. With curb appeal that is unmatched by most in the neighborhood, the moment you pull up to 2201 Tulane you will feel at home. Walking through the front door you will find a floor plan that flows seamlessly and is filled with natural light. The hardwood floors take you into a chef's kitchen that has been remodeled with butcher block countertops, recessed lighting and stainless steel appliances, including a separate laundry right off of the kitchen. The 3/4 bath was a recent and tasteful addition to the home just in 2019. The hall bathroom has also been remodeled with hexagon flooring, a double vanity and stylish fixtures. Other features of this turnkey home include central heat and AC, built in bookshelves, plantation shutters, a tank-less water heater, a newer roof, and an enclosed bonus room that could be used for a home office, gym, craft room, or anything to suit your family (note: not included in the square footage). The backyard of 2201 Tulane is perfect for entertaining and features a newer patio leading to a mini grove of key lime, lemon, and avocado trees (also includes a guava tree in the front and a tangerine tree on the side). This home is close to schools, shopping, freeways, and CSULB. In one of the most sought out locations of Los Altos this home will not last. Welcome Home

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]
  • 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 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: Los Altos South

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: Los Altos 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
Bixby Elementary School Primary Regular 553 21 8
Stanford Middle School Middle Regular 1,255 48 8
Wilson High School High Magnet 3,944 146 7

Bixby Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 21
8
GreatSchools Rating

Stanford Middle School

  • Education Level: Middle
  • # of students: 1,255
  • # of teachers: 48
8
GreatSchools Rating

Wilson High School

  • Education Level: High
  • # of students: 3,944
  • # of teachers: 146
7
GreatSchools Rating
 

$737,100$900,900$819,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,845
Property Tax -$869
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$1,258

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.

$819,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$222,785

INVESTMENT

$222,785

Down Payment
$204,750
Rehab Estimate
$5,750
Closing Costs
$12,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,845

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $204,750
Loan Amount $614,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$74

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $2.32

    LIST RENT PER SQFT
  • $2,653

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,640
1$2,6402$2,7503$3,0004$3,2005$3,295
$3,295
RENT COMPS ANALYSIS
  • 2201 Tulane Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $2.32
    •  
  • 3016 N Greenbrier Road Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.25
    •  
  • 2342 Heather Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1951
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.43
    •  
  • 6310 E Stearns Street Long Beach, CA 4
    • 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1952
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.26
    •  
  • 2661 Marber Avenue Long Beach, CA 5
    • 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1954 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1954
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.37
    •  
PROPERTY LISTING DETAILS
Justin Sidell
Dream Life Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS21035649
Last Updated: 03/05/2021
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