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PROPERTY INFO
FACTS
- Single Family
- Built In 1952
- Price/Sqft : $505.73
- 2 Days on Market
- MLS # : PW21000416
- Updated Date : 01/02/2021 at 11:15
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
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,500
LOAN DETAILS
$2,767
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
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
-
23218 Figueroa Street Carson, CA 3
- 4 beds 2 baths ∙ 1,483 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,483 Sqft ∙ Built 1952
- 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
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
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
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
LEASED 12/20/19- Rent
- Rent Per SQFT
- $3,295
- $1.94
PROPERTY LISTING DETAILS
Home Team Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21000416
Last Updated: 01/02/2021
