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23502 Nicolle Avenue Carson, CA 90745

4 Beds 2 Baths 1,665 sqft Built 1965

$620,000

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $372.37
  • 6 Days on Market
  • MLS # : SB21026500
  • Updated Date : 02/11/2021 at 14:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,665 sqft
  • Baths : 2 full
Listing Agent

Re/max Estate Properties

Listing Agent's Description

This 2 story 4 bedrooms 2 bathroom Craftsman Style home offers 1,665 SqFt of living area, 6,169 SqFt of land, master bedroom w/walk-in closet, 3 bedrooms upstairs, 1 down stairs, nice floor plan, newer partial cooper plumbing, huge back yard, attached garage. Located in a quiet cal-de-sac of a highly desirable residential neighborhood. This house is a fixer upper and needs TLC and updating. Perfect opportunity for the family or the INVESTOR who is willing to remodel and make this a beautiful home. Lots of potential.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$558,000$682,000$620,000

PURCHASE PRICE

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$2,153
Property Tax -$697
Property Insurance -$67
Property Management Fees -$154
CASH FLOW
$78

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.

$620,000

PROJECTED PRICE

$3,150

PROJECTED RENT

0.51%

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$0.0$5.0k$10k$15k$20k$25k$30k

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$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$56,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,150

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $3,201

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,9003$3,0004$3,1505$3,295
$3,295
RENT COMPS ANALYSIS
  • 23502 Nicolle Avenue Carson, CA 4
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.89
    •  
  • 6 Millward Lane Carson, CA 1
    • 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
    •  
  • 22533 S Vermont Avenue Torrance, CA 2
    • 3 beds 3 baths ∙ 1,454 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,454 Sqft ∙ Built 1980
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.99
    •  
  • 24417 Marbella Avenue Carson, CA 3
    • 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
Manny Archondo
Re/max Estate Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21026500
Last Updated: 02/11/2021
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