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2308 Stanbridge Avenue Long Beach, CA 90815

3 Beds 1 Baths 1,362 sqft Built 1951

$780,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $572.69
  • 3 Days on Market
  • MLS # : PW21046815
  • Updated Date : 03/13/2021 at 14:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,362 sqft
  • Baths : 1 full
Listing Agent

John Schneiter Rei Inc

Listing Agent's Description

Beautiful 3 Bedroom 1 3/4 bath on a large lot, lovingly updated and in excellent Condition. Open Kitchen with beautiful Quarts Countertops and Stainless Steel Appliances. Wine cooler and built in microwave and washer and dryer. Master Bedroom has tandem nursery/sitting/powder room Plus 3/4 bath Newer Anderson double pane vinyl windows throughout. Double doors leading out to a deck with Jacuzzi and well manicured lawn with Koi pond (No Koi fish included) Bedroom 3 is being used as a den/office. Kitchen is fully updated and all appliances stay. Located across the street from Bixby Elementary School and Our Lady of Refuge Pre-K through 6th grade Catholic school. This home is turn key.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)
  • 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)

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
 

$702,000$858,000$780,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,709
Property Tax -$828
Property Insurance -$60
Property Management Fees -$142
CASH FLOW
-$848

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.

$780,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.37%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,709

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $3,085

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,890
1$2,8902$2,9953$3,0004$3,0005$3,295
$3,295
RENT COMPS ANALYSIS
  • 2308 Stanbridge Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $2.12
    •  
  • 5250 E Patterson Street Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1953
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.15
    •  
  • 2304 Stearnlee Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1950
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.11
    •  
  • 2342 Heather Avenue Long Beach, CA 4
    • 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
    •  
  • 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
John Schneiter
John Schneiter Rei Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21046815
Last Updated: 03/13/2021
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