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2634 E 220th Street Carson, CA 90810

3 Beds 2 Baths 1,222 sqft Built 1942

$615,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1942
  • Price/Sqft : $503.27
  • 4 Days on Market
  • MLS # : PW21056777
  • Updated Date : 03/19/2021 at 11:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,222 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California

Listing Agent's Description

Beautiful 3 bedrooms and 2 bath home nestled in the Lincoln Village of Carson, this home has a one car garage with direct access from driveway, a master bedroom at rear of home and the other two bedrooms towards front of home, carpet flooring in all bedrooms with newer paint throughout, newer dual pane windows, crown molding, window coverings, one bath has a tub/shower combination and the master bath a shower with glass door, newer base vanity with solid surface tops and newer plumbing fixtures. The kitchen has newer cabinets and solid surface counter top materials, tile flooring and plenty of light overhead from the light box. Dining area close to kitchen, also tiled floor. This home has been beautifully maintained by its proud owners, beautiful planters at front and back yards, some fruit, avocado, and citrus trees at back. A concrete pad and grass areas at rear, ready for entertainment! Brick ribbons on driveway and path towards front door. Plenty of natural light throughout home and the windows will let the breeze through in those hot summer days, while you rest at covered front porch area! A true gem in the neighborhood!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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: East Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: East Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12862941

* 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
Dominguez Elementary School Primary Regular 576 24 5
Dominguez Elementary School Primary Unknown NA

Dominguez Elementary School

  • Education Level: Primary
  • # of students: 576
  • # of teachers: 24
5
GreatSchools Rating

Dominguez Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$553,500$676,500$615,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,136
Property Tax -$703
Property Insurance -$57
Property Management Fees -$127
CASH FLOW
-$423

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.

$615,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.4%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $2,819

    COMP ESTIMATED VALUE
  • $2.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7953$2,8504$3,100
$3,100
RENT COMPS ANALYSIS
  • 2634 E 220th Street Carson, CA 1
    • 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1942
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.13
    •  
  • 2749 E Jackson Street Carson, CA 2
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1937
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.30
    •  
  • 2460 Webster Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1949
    property image
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.31
    •  
  • 2960 Maine Avenue Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1938
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.31
    •  
PROPERTY LISTING DETAILS
Ileana Amiel
Exp Realty Of California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21056777
Last Updated: 03/19/2021
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