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24626 Marine Avenue Carson, CA 90745

3 Beds 1 Baths 1,400 sqft Built 1958

$645,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $460.71
  • 7 Days on Market
  • MLS # : OC21036548
  • Updated Date : 02/23/2021 at 13:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 1 full
Listing Agent

Julaine Waggoner, Broker

Listing Agent's Description

Welcome home to this spacious, open, beautifully remodeled retreat which is perfectly set up for entertaining friends and family! Gleaming wood floors run throughout the home. The living room is large, with room for a large, sectional couch. The over-sized bedrooms easily accommodate king-sized beds. The kitchen was recently remodeled with long, counters and lots of storage...perfect for the cook in the house. The formal dining room has room for a long table, too! Recently remodeled bathrooms feature new fixtures and tile. In the Summer, relax beneath the covered patio and enjoy the fruit from a huge avocado and prolific orange tree. The laundry room is inside and has room for a full-sized washer and dryer.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 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)
  • 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]
  • 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)

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
 

$580,500$709,500$645,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,240
Property Tax -$733
Property Insurance -$61
Property Management Fees -$137
CASH FLOW
-$381

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.

$645,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.43%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$16,959

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $2,660

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,790
1$2,7902$3,0003$3,295
$3,295
RENT COMPS ANALYSIS
  • 24626 Marine Avenue Carson, CA 1
    • 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.99
    •  
  • 24417 Marbella Avenue Carson, CA 2
    • 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1969
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.86
    •  
  • 1082 W 231st Street Torrance, CA 3
    • 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 1962
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.94
    •  
PROPERTY LISTING DETAILS
Julaine Waggoner
Julaine Waggoner, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21036548
Last Updated: 02/23/2021
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