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PROPERTY INFO
FACTS
- Single Family
- Built In 1931
- Price/Sqft : $422.73
- 2 Days on Market
- MLS # : PW21019873
- Updated Date : 01/30/2021 at 11:53
CONSTRUCTION
- Beds : 3
- Floor Size : 1,443 sqft
- Baths : 1 full
Listing Agent
Tm Real Estate Brokers
Listing Agent's Description
Fully Remodeled Spanish Style 3 Bedrooms 1.75 Bath, 2 Detached Car Garage with Long Driveway and Huge Back Yard good for ADU. New Paint Inside and Outside, New ROOF, New Windows, New Bathrooms, New Kitchen With Quartz countertop and New Black Stainless Steel Appliances, New Laminate Flooring and Tile flooring, New Pex Plumbing, New Drains Good Size Living room with fireplace, Walk-in Closet in every Bedroom, Dining Area, Washer & Dryer Hookups, Front Porch and Front Yard. Close to Major freeways, Schools, Shopping centers, Ready to Move in
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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: Westside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Westside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,850 |
| EXPENSES | Loan Payment | -$2,119 |
| Property Tax | -$661 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$140 | |
|
CASH FLOW
-$132
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$610,000
PROJECTED PRICE
$2,850
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| 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
$167,400
LOAN DETAILS
$2,119
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $152,500 |
| Loan Amount | $457,500 |
5.33
YEARS SAVED
$34,725
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,850
LIST RENT -
$1.98
LIST RENT PER SQFT
-
$3,178
COMP ESTIMATED VALUE -
$2.2
COMP AVG. RENT PER SQFT
Comps Range
-
2335 Easy Avenue Long Beach, CA 2
- 3 beds 1 baths ∙ 1,443 Sqft ∙ Built 1931 3 beds 1 baths ∙ 1,443 Sqft ∙ Built 1931
- Rent
- Rent Per SQFT
- $2,850
- $1.98
-
2460 Webster Avenue Long Beach, CA 1
- 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1949
LEASED 01/29/21- Rent
- Rent Per SQFT
- $2,850
- $2.31
-
3184 Daisy Avenue Long Beach, CA 3
- 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1944
LEASED 08/26/19- Rent
- Rent Per SQFT
- $3,000
- $2.11
-
2960 Maine Avenue Long Beach, CA 4
- 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1938
LEASED 09/08/20- Rent
- Rent Per SQFT
- $3,100
- $2.31
-
2560 San Francisco Avenue Long Beach, CA 5
- 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1944
LEASED 11/09/20- Rent
- Rent Per SQFT
- $3,400
- $2.08
PROPERTY LISTING DETAILS
Tm Real Estate Brokers
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21019873
Last Updated: 01/30/2021
