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308 W 212th Street Carson, CA 90745

3 Beds 2 Baths 1,540 sqft Built 1960

$699,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $453.90
  • 6 Days on Market
  • MLS # : SB20257691
  • Updated Date : 12/15/2020 at 16:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices California Properties

Listing Agent's Description

JUST LISTED!!! Upon entering this lovely 3 bed, 2 bath upgraded home you will see beautiful laminate flooring and tile throughout, newer windows, tile roof, plantation shutters, recent kitchen remodel, freshly painted inside and out. The large, private yard is perfect for entertaining. The two car garage is attached, lots of storage space too. There is a gate in front to secure the property. What a wonderful family home in a great neighborhood, very quiet street and priced to sell fast.

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: Central Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $174k622k

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

Neighborhood: Central Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14342941

* 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
Carson Street Elementary School Primary Regular 700 30 8
Stephen M White Middle School Middle Regular 1,656 64 5
Carson Senior High School High Regular 1,572 62 3

Carson Street Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 30
8
GreatSchools Rating

Stephen M White Middle School

  • Education Level: Middle
  • # of students: 1,656
  • # of teachers: 64
5
GreatSchools Rating

Carson Senior High School

  • Education Level: High
  • # of students: 1,572
  • # of teachers: 62
3
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,579
Property Tax -$788
Property Insurance -$64
Property Management Fees -$149
CASH FLOW
-$541

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.

$699,000

PROJECTED PRICE

$3,040

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 8.0%
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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$15,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $3,034

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9903$3,0004$3,0405$3,500
$3,500
RENT COMPS ANALYSIS
  • 308 W 212th Street Carson, CA 4
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $1.97
    •  
  • 21244 Menlo Avenue Torrance, CA 1
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1969
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
  • 203 W 226th Place Carson, CA 2
    • 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1956
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.95
    •  
  • 21212 Mariposa Avenue Torrance, CA 3
    • 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1959
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.98
    •  
  • 912 W 214th Street Torrance, CA 5
    • 3 beds 1 baths ∙ 1,700 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,700 Sqft ∙ Built 1960
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.06
    •  
PROPERTY LISTING DETAILS
Catherine Salerno
Berkshire Hathaway Homeservices California Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20257691
Last Updated: 12/15/2020
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