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2208 Fisher Court Redondo Beach, CA 90278

3 Beds 1 Baths 1,114 sqft Built 1955

$998,500

List Price

$3,430

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $896.32
  • 4 Days on Market
  • MLS # : CV21009126
  • Updated Date : 01/14/2021 at 20:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,114 sqft
  • Baths : 1 full
Listing Agent

Keller Williams West Foothills

Listing Agent's Description

Beautiful single story home nestled in a charming neighborhood of Redondo Beach. As you enter the home you are greeted by a large living room featuring original hard wood flooring throughout and a picture window looking out to a beautiful tree lined view of the neighborhood. The living room opens to the dining room with picturesque windows which let in lots of natural light. The newly renovated kitchen features quartz countertops, a custom backsplash, an additional eat-in area and views out to the backyard. The backyard is perfect for entertaining family and friends with a large covered patio and grass area. New windows, new roof, interior paint throughout, plus lots lots more. Less than 2 miles to the beach! Walking distance to Washington Elementary School, Adams Middle School, Valor Christian Academy, Fulton Field, shopping and restaurants, plus lots more. Located in the Award-Winning Redondo Beach School District. This home is truly a must see!

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1143k

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

Neighborhood: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844464

* 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
Washington Elementary School Primary Regular 725 29 8
Adams Middle School Middle Regular 982 32 8
Redondo Union High School High Regular 2,658 102 9

Washington Elementary School

  • Education Level: Primary
  • # of students: 725
  • # of teachers: 29
8
GreatSchools Rating

Adams Middle School

  • Education Level: Middle
  • # of students: 982
  • # of teachers: 32
8
GreatSchools Rating

Redondo Union High School

  • Education Level: High
  • # of students: 2,658
  • # of teachers: 102
9
GreatSchools Rating
 

$898,650$1,098,350$998,500

PURCHASE PRICE

$3,087$3,773$3,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,430
EXPENSES Loan Payment -$3,468
Property Tax -$991
Property Insurance -$54
Property Management Fees -$168
CASH FLOW
-$1,251

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.

$998,500

PROJECTED PRICE

$3,430

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.7%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,353

INVESTMENT

$270,353

Down Payment
$249,625
Rehab Estimate
$5,750
Closing Costs
$14,978

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,468

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,625
Loan Amount $748,875
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,286

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,430

    LIST RENT
  • $3.08

    LIST RENT PER SQFT
  • $3,554

    COMP ESTIMATED VALUE
  • $3.19

    COMP AVG. RENT PER SQFT
Comps Range
$3,050
1$3,0502$3,4003$3,4304$3,8005$4,100
$4,100
RENT COMPS ANALYSIS
  • 2208 Fisher Court Redondo Beach, CA 3
    • 3 beds 1 baths ∙ 1,114 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,114 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,430
    • $3.08
    •  
  • 1735 Axenty Way Redondo Beach, CA 1
    • 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1962
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.97
    •  
  • 500 N Paulina Avenue Redondo Beach, CA 2
    • 3 beds 1 baths ∙ 1,051 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,051 Sqft ∙ Built 1952
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $3.24
    •  
  • 1720 Wollacott Street Redondo Beach, CA 4
    • 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1962
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.28
    •  
  • 635 Prospect Avenue Hermosa Beach, CA 5
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1968
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $3.27
    •  
PROPERTY LISTING DETAILS
Jason Lorge
Keller Williams West Foothills
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21009126
Last Updated: 01/14/2021
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