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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$176,675
LOAN DETAILS
$2,240
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $161,250 |
| Loan Amount | $483,750 |
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
-
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, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21036548
Last Updated: 02/23/2021
