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3212 Marber Avenue Long Beach, CA 90808

3 Beds 1 Baths 1,121 sqft Built 1951

$745,000

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $664.59
  • 2 Days on Market
  • MLS # : PW20242642
  • Updated Date : 11/21/2020 at 11:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,121 sqft
  • Baths : 1 full
Listing Agent

First Team Real Estate

Listing Agent's Description

This charming South of Conant beauty featuring a classic Oak Mission Style front entry door. Open living room and formal eating area with lots of light and plantation shutters. Kitchen with Corian counter tops, laminate flooring, lots of cupboard space & appliances included. Master bedroom with a 3/4 bath including a Granite top vanity, tiled stall shower & floor plus extra closet space. All bedrooms with nice size closets & mirrored doors. Remodeled full hallway bath with Granite top vanity, tiled stall shower & floor. Refinished Oak hardwood floors thru-out. Double pane Milgard windows. Copper plumbing. Fresh interior & exterior paint. Plenty of parking space with a long driveway leading to a 2 Car detached garage with laundry hook ups. Large private fenced back yard with large detached patio with wood burning fireplace, Jacuzzi hot tub, amazing Avocado, Meyer Lemon & Orange trees plus side yard garden. Upgraded electrical.

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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: South of Conant

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: South of Conant

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14493697

* 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
Burcham Elementary School Primary Regular 624 26 6
Marshall Middle School Middle Regular 875 34 8
Millikan High School High Magnet 3,753 145 7

Burcham Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 26
6
GreatSchools Rating

Marshall Middle School

  • Education Level: Middle
  • # of students: 875
  • # of teachers: 34
8
GreatSchools Rating

Millikan High School

  • Education Level: High
  • # of students: 3,753
  • # of teachers: 145
7
GreatSchools Rating
 

$670,500$819,500$745,000

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$2,749
Property Tax -$790
Property Insurance -$54
Property Management Fees -$136
CASH FLOW
-$959

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.

$745,000

PROJECTED PRICE

$2,770

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$203,175

INVESTMENT

$203,175

Down Payment
$186,250
Rehab Estimate
$5,750
Closing Costs
$11,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,749

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $186,250
Loan Amount $558,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,592

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $2.47

    LIST RENT PER SQFT
  • $2,525

    COMP ESTIMATED VALUE
  • $2.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,7503$2,7504$2,7705$3,200
$3,200
RENT COMPS ANALYSIS
  • 3212 Marber Avenue Long Beach, CA 4
    • 3 beds 1 baths ∙ 1,121 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,121 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $2.47
    •  
  • 3016 N Greenbrier Road Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.25
    •  
  • 2922 Knoxville Avenue Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1951
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.28
    •  
  • 3156 Josie Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1952
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.23
    •  
  • 6804 E Rosebay Long Beach, CA 5
    • 4 beds 1 baths ∙ 1,424 Sqft ∙ Built 1952 4 beds 1 baths ∙ 1,424 Sqft ∙ Built 1952
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.25
    •  
PROPERTY LISTING DETAILS
Russ Caldarella
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20242642
Last Updated: 11/21/2020
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