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22132 Neptune Avenue Carson, CA 90745

3 Beds 1 Baths 1,056 sqft Built 1955

$589,999

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $558.71
  • 3 Days on Market
  • MLS # : PV21018881
  • Updated Date : 01/29/2021 at 09:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,056 sqft
  • Baths : 1 full
Listing Agent

West Shores Realty, Inc.

Listing Agent's Description

Escape the busy city life by retreating to this 3 bedroom 1 bath totally remodeled turn-key home on a 5,597 square foot lot with an attached garage! The home sits on a conveniently located street close to the freeways, shopping and dining. The property boasts a sizable front yard and shade-providing trees perfect for taking in sunny days. The entrance opens to a spacious living room with hardwood laminate floors giving a modern look to this open floor plan. Not to mention large windows that allow light to pour in. Across the entrance and to the right of the living room is an incredibly remodeled kitchen that INCLUDES appliances, quartz countertops and a beautiful backsplash. The living room flows to a hallway leading to three spacious, bright bedrooms and a newly remodeled bathroom complete with quartz countertops and tile. Step outside to see that the home features a very large, private yard with a fence in the back where you can host BBQ’s and get-togethers w/ friends and family, and watch your loved ones play freely. Enjoy the extra living space with your own bonus structure to use as a home gym or office! Cookouts and entertaining will be a cinch. Come see for yourself before it flies off the market!

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: Central Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $174k622k

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

Neighborhood: Central Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14342941

* 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
Dolores Street Elementary School Primary Regular 617 24 4
Andrew Carnegie Middle School Middle Regular 915 46 3
Carson Senior High School High Regular 1,572 62 3

Dolores Street Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 24
4
GreatSchools Rating

Andrew Carnegie Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 46
3
GreatSchools Rating

Carson Senior High School

  • Education Level: High
  • # of students: 1,572
  • # of teachers: 62
3
GreatSchools Rating
 

$530,999$648,999$589,999

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,049
Property Tax -$684
Property Insurance -$53
Property Management Fees -$126
CASH FLOW
-$342

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.

$589,999

PROJECTED PRICE

$2,570

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,500
Loan Amount $442,499
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$15,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $2.43

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$2,570
1$2,570
$2,570
RENT COMPS ANALYSIS
  • 22132 Neptune Avenue Carson, CA
    • 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $2.43
    •  
PROPERTY LISTING DETAILS
Richard Magana
West Shores Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV21018881
Last Updated: 01/29/2021
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