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23218 Figueroa Street Carson, CA 90745

4 Beds 2 Baths 1,483 sqft Built 1952

$750,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $505.73
  • 3 Days on Market
  • MLS # : PW20262780
  • Updated Date : 01/01/2021 at 19:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,483 sqft
  • Baths : 2 full
Listing Agent

Home Team Realty

Listing Agent's Description

Welcome to Your New Home! This beautiful one level huge lot property on a rare corner area offers 4 bedrooms & 2 full bathrooms. Nestled at the end of a quite street has been meticulously updated and maintained. The home opens to a living room features an electric fireplace. You will enjoy the best of Southern California in the back patio with lots of space for picnics, barbeque, outdoor entertaining, gardening, enough room for adding swimming pool or potential for building another property. Close to schools, churches, shopping, and 110 freeway. Hurry - "a must see", property won't last very long. 3D available. https://my.matterport.com/show/?m=ei4TAs8x7xv&mls=1

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: South Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $160k622k

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

Neighborhood: South Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14022941

* 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
232nd Place Elementary School Primary Regular 432 19 8
Stephen M White Middle School Middle Regular 1,656 64 5
Carson Senior High School High Regular 1,572 62 3

232nd Place Elementary School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 19
8
GreatSchools Rating

Stephen M White Middle School

  • Education Level: Middle
  • # of students: 1,656
  • # of teachers: 64
5
GreatSchools Rating

Carson Senior High School

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

$675,000$825,000$750,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,767
Property Tax -$851
Property Insurance -$63
Property Management Fees -$137
CASH FLOW
-$1,018

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.

$750,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.8%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $2,773

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,7003$2,8004$3,0005$3,295
$3,295
RENT COMPS ANALYSIS
  • 23218 Figueroa Street Carson, CA 3
    • 4 beds 2 baths ∙ 1,483 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,483 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
  • 1524 W 223rd Street Torrance, CA 1
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1947
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.78
    •  
  • 6 Millward Lane Carson, CA 2
    • 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 1963
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.90
    •  
  • 24417 Marbella Avenue Carson, CA 4
    • 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1969
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.86
    •  
  • 1082 W 231st Street Torrance, CA 5
    • 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 1962
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.94
    •  
PROPERTY LISTING DETAILS
Gina Bush
Home Team Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20262780
Last Updated: 01/01/2021
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