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PROPERTY INFO
FACTS
- Single Family
- Built In 1942
- Price/Sqft : $308.35
- 2 Days on Market
- MLS # : RS21041315
- Updated Date : 02/27/2021 at 19:18
CONSTRUCTION
- Beds : 3
- Floor Size : 2,108 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Coastal Alliance
Listing Agent's Description
TENANT OCCUPIED! Property is located in the beautiful Lincoln Village section in the City of Carson. This is a neighborhood of big, mature trees and large lots. Home is owned by a successful Contractor with tons of premium upgrades. Upgraded plumbing and electrical including the main sewer plumbing lines. Centralized heating and air. Custom masonry and cement work in the driveway and front yard. Beautifully remodeled master bath with jacuzzi tub. Family room addition with wet bar and vaulted high ceilings. Automated front gate entry. There is a half bath addition in the garage (buyer to verify). Property has a great layout with tons of living space. Easily accessible to freeways and schools.
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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: East Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,900 |
| EXPENSES | Loan Payment | -$2,258 |
| Property Tax | -$743 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$142 | |
|
CASH FLOW
-$320
|
||
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.
$650,000
PROJECTED PRICE
$2,900
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$178,000
LOAN DETAILS
$2,258
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $162,500 |
| Loan Amount | $487,500 |
3.58
YEARS SAVED
$21,423
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,900
LIST RENT -
$1.38
LIST RENT PER SQFT
-
$3,036
COMP ESTIMATED VALUE -
$1.44
COMP AVG. RENT PER SQFT
Comps Range
-
2712 E 219th Place Carson, CA 1
- 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 1942 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 1942
- Rent
- Rent Per SQFT
- $2,900
- $1.38
-
244 E Claiborne Place E Long Beach, CA 2
- 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 1959 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 1959
LEASED 05/13/20- Rent
- Rent Per SQFT
- $3,395
- $1.44
PROPERTY LISTING DETAILS
Coldwell Banker Coastal Alliance
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: RS21041315
Last Updated: 02/27/2021
