Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

24429 Neptune Avenue Carson, CA 90745

5 Beds 3 Baths 2,044 sqft Built 1968

$850,000

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $415.85
  • 4 Days on Market
  • MLS # : OC21150751
  • Updated Date : 07/10/2021 at 14:47
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,044 sqft
  • Baths : 3 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

Don’t miss the incredible opportunity to see this beautiful 5 Bedroom 2 ½ Bathroom home in a very desirable neighborhood in Carson. This home is move in ready and full of upgrades. The exterior of the home has newer exterior paint, newer modern wrought iron fencing, newer security screen doors, newer concrete paved back yard and newer block side walls. The driveway can fit 4 cars easily, or park in the 2 cars oversized garage. Inside you will enjoy tile floors that run throughout the lower level of the home. There are double doors to enter a downstairs bedroom/Office with adjacent 1/2 bath. Another set of double doors off the entry to the den/game-room or whatever you want it to be. The family room has a gas fireplace and is wired for surround sound. The spacious dining room is between the kitchen and family room and features built in cabinets underneath the bay window. The kitchen features granite counter tops and stainless-steel appliances. Upstairs you will find a Huge Master Bedroom and lovely Master Bathroom with a Jacuzzi Soaking Tub and separate Shower. The Master Bedroom also features a nice deck to the front of the home that adjoins to another front facing Bedroom. The other 3 Upstairs bedrooms are ample sized, have laminate flooring and share beautiful upstairs bathroom with tub/shower. The Backyard is great for entertaining with nice patio area, concrete decking and grassy area. It is set up with 220 volt hookup for future spa/hot tub.

SEE MORE

MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]

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
Broad Avenue Elementary School Primary Regular 734 31 5
Wilmington Middle School Steam Middle Regular 1,424 65 4
Phineas Banning Senior High School High Regular 2,057 77 3

Broad Avenue Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 31
5
GreatSchools Rating

Wilmington Middle School Steam

  • Education Level: Middle
  • # of students: 1,424
  • # of teachers: 65
4
GreatSchools Rating

Phineas Banning Senior High School

  • Education Level: High
  • # of students: 2,057
  • # of teachers: 77
3
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$2,952
Property Tax -$955
Property Insurance -$76
Property Management Fees -$168
CASH FLOW
-$732

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.

$850,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.40%

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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$10,093

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $3,366

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4203$3,4954$3,600
$3,600
RENT COMPS ANALYSIS
  • 24429 Neptune Avenue Carson, CA 2
    • 5 beds 3 baths ∙ 2,044 Sqft ∙ Built 1968 5 beds 3 baths ∙ 2,044 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $1.67
    •  
  • 1536 Bay View Avenue Wilmington, CA 1
    • 4 beds 3 baths ∙ 1,953 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,953 Sqft ∙ Built 1981
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.69
    •  
  • 23340 Brightwater Place Harbor City, CA 3
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1969
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.49
    •  
  • 23022 Bolsa Avenue Carson, CA 4
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 1967
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.76
    •  
PROPERTY LISTING DETAILS
Richard Williams
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21150751
Last Updated: 07/10/2021
BESbswy