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2335 Easy Avenue Long Beach, CA 90810

3 Beds 1 Baths 1,443 sqft Built 1931

$610,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
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

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: Westside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $148k622k

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

Neighborhood: Westside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12612941

* 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
Garfield Elementary School Primary Regular 772 33 6
Stephens Middle School Middle Regular 791 32 4
Cabrillo High School High Magnet 2,768 112 3

Garfield Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 33
6
GreatSchools Rating

Stephens Middle School

  • Education Level: Middle
  • # of students: 791
  • # of teachers: 32
4
GreatSchools Rating

Cabrillo High School

  • Education Level: High
  • # of students: 2,768
  • # of teachers: 112
3
GreatSchools Rating
 

$549,000$671,000$610,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,119

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

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
$2,850
1$2,8502$2,8503$3,0004$3,1005$3,400
$3,400
RENT COMPS ANALYSIS
  • 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
Tony Amer
Tm Real Estate Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21019873
Last Updated: 01/30/2021
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