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2553 Kurt Avenue Commerce, CA 90040

3 Beds 3 Baths 1,131 sqft Built 1944

$549,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1944
  • Price/Sqft : $485.41
  • 5 Days on Market
  • MLS # : CV20257900
  • Updated Date : 12/16/2020 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,131 sqft
  • Baths : 3 full
Listing Agent

Kw Vision

Listing Agent's Description

Great family home now for sale in the City of Commerce! Prime location with easy access to 5 and 710 freeways. As you walk up the brick walkway, you will notice a nicely manicured lawn and well maintained home. The kitchen overlooks the living room/dining room and is perfect for entertaining. Other amenities: hardwood floors, carpeting, recessed lighting, ceiling fans, Split AC & Heating Units, wall heater and wall A/C. The kitchen offers granite countertops, gas stove/oven, microwave, and an eating bar overlooking the dining area. This home includes a large step down family room located at the rear of the home with its own bathroom, perfect for entertaining! There is direct access to the patio and backyard from the family room. Detached two car garage and long driveway for extra cars. The City of Commerce offers great amenities to its residents, take a tour of this beautiful home today, it will not last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rosewood

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $135k622k

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

Neighborhood: Rosewood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21700180019002000210022002300240025002600270028002900Rent in $16432941

* 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
Rosewood Park School Primary Regular 922 33 3
Rosewood Park School Middle Regular 922 33 3
Bell Gardens High School High Regular 2,983 140 3

Rosewood Park School

  • Education Level: Primary
  • # of students: 922
  • # of teachers: 33
3
GreatSchools Rating

Rosewood Park School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 33
3
GreatSchools Rating

Bell Gardens High School

  • Education Level: High
  • # of students: 2,983
  • # of teachers: 140
3
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,026
Property Tax -$601
Property Insurance -$54
Property Management Fees -$124
CASH FLOW
-$275

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.

$549,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$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$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$23,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $2,364

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5303$3,000
$3,000
RENT COMPS ANALYSIS
  • 2553 Kurt Avenue Commerce, CA 2
    • 3 beds 3 baths ∙ 1,131 Sqft ∙ Built 1944 3 beds 3 baths ∙ 1,131 Sqft ∙ Built 1944
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $2.24
    •  
  • 6502 Perry Road Bell Gardens, CA 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1952
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.89
    •  
  • 2308 Connor Avenue Commerce, CA 3
    • 4 beds 2 baths ∙ 1,308 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,308 Sqft ∙ Built 1955
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.29
    •  
PROPERTY LISTING DETAILS
Julia Lupercio
Kw Vision
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20257900
Last Updated: 12/16/2020
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