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3412 Duchess Lane Long Beach, CA 90815

4 Beds 3 Baths 1,878 sqft Built 2001

$820,000

List Price

$3,440

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $436.63
  • 5 Days on Market
  • MLS # : PW21055134
  • Updated Date : 03/20/2021 at 16:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,878 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Pacific Estate

Listing Agent's Description

Welcome to the Beautiful Newer Construction Gated Community Alamitos Green. A Two Story Home with Four Bedrooms and Two-and-a half Bathrooms. Entrance of the Home leads you on your Right to a Bright Living Space overlooking the California Landscaped Front Yard. On your Left side you Access the Open Living Concept with a Dining Room Area Leading to the Gorgeous, Tropical private back yard, the Sunny Family Room with its Gas Fire Place that Opens to the Chef's Kitchen with Large Stone Countertops. This Open Concept with its Many and Large Windows that invite you to your Back yard with its Lanai, cut pavers, Mature Landscaping and Barbecue Area is Ready for You and Your Guests to Enjoy your Evenings and Weekends. The Bright and Airy Second Floor Features Four Bedrooms and Two full Bathrooms. The Master Suite has a Cozy Landing for You to Relax and Enjoy your Privacy. The Master Bedroom has a bathroom with Dual Sink, Separate Shower and Tub and Enclosed Toilet. The Second Bathroom has Also a Dual Sink. You will find the Laundry Room on the Second Floor for your Convenience Down the Hall. This Home also has a Large Two Car Garage with Direct Access. The Complex has Two Large Grassy Areas for your Pets to Enjoy or for a Safe Picnic. Close Distance from the 405 Freeway and Shopping opportunity. Welcome Home.

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: Stearns Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $186k638k

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

Neighborhood: Stearns Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14262966

* 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
Bixby Elementary School Primary Regular 553 21 8
Stanford Middle School Middle Regular 1,255 48 8
Wilson High School High Magnet 3,944 146 7

Bixby Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 21
8
GreatSchools Rating

Stanford Middle School

  • Education Level: Middle
  • # of students: 1,255
  • # of teachers: 48
8
GreatSchools Rating

Wilson High School

  • Education Level: High
  • # of students: 3,944
  • # of teachers: 146
7
GreatSchools Rating
 

$738,000$902,000$820,000

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$2,848
Property Tax -$865
Property Insurance -$72
HOA -$220
Property Management Fees -$169
CASH FLOW
-$734

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.

$820,000

PROJECTED PRICE

$3,440

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 8.5%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$223,050

INVESTMENT

$223,050

Down Payment
$205,000
Rehab Estimate
$5,750
Closing Costs
$12,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,848

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $205,000
Loan Amount $615,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,993

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $3,837

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,440
1$3,4402$3,8003$4,4804$4,600
$4,600
RENT COMPS ANALYSIS
  • 3412 Duchess Lane Long Beach, CA 1
    • 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $1.83
    •  
  • 2408 Maxson Court Signal Hill, CA 2
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2000
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.03
    •  
  • 2361 Promontory Drive Signal Hill, CA 3
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2001
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,480
    • $2.03
    •  
  • 2263 Junipero Avenue Signal Hill, CA 4
    • 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2004
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.07
    •  
PROPERTY LISTING DETAILS
Mylene Le Bail
Keller Williams Pacific Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21055134
Last Updated: 03/20/2021
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