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PROPERTY INFO
FACTS
- Single Family
- Built In 1947
- Price/Sqft : $550.71
- 3 Days on Market
- MLS # : PW21040079
- Updated Date : 02/27/2021 at 17:47
CONSTRUCTION
- Beds : 3
- Floor Size : 1,489 sqft
- Baths : 1 full
Listing Agent
Vylla Home, Inc.
Listing Agent's Description
This super cute east side charmer has it all! Spacious, well laid out and recently remodeled, this home has a fantastic flow, front and back yards that offer lots of privacy and a large permitted bonus room attached to the two-car garage that can fit an office for two (or more?), workout area, playroom and with a little work, an ADU. Now your staycation (and workday) is much more fun! And…the location is awesome – a serene tree lined street, two blocks from lovely Wardlow park and near restaurants and shopping. At the front sits a large inviting patio with custom pavers and a fireplace. Inside, a bay window frames the generous living room with a gas fireplace and beautiful wide plank gray bamboo flooring which continues through the whole home. The kitchen has gorgeous quartz counters, soft close shaker cabinets, a farm sink and a huge amount of counter and cabinet space. The hall bathroom has new travertine flooring, vanity, mirror and lighting. The bedrooms are a very good size and the extra-large master has an en suite bath with a walk in shower. The backyard is amazing! There is a big deck, multiple seating areas and two gazebos – one with festoon lighting and a TV (perfect for hanging out in the evening!), and one over the Jacuzzi. Fruit trees and flowering shrubbery blanket the entire property. Upgrades include double pane windows, new electrical panel, copper plumbing, tankless water heater, whole house fan, and dimmable LED recessed lighting.
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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: South of Conant
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South of Conant
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,030 |
| EXPENSES | Loan Payment | -$2,848 |
| Property Tax | -$867 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$148 | |
|
CASH FLOW
-$897
|
||
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
$3,030
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$223,050
LOAN DETAILS
$2,848
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $205,000 |
| Loan Amount | $615,000 |
1
YEARS SAVED
$3,244
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,030
LIST RENT -
$2.03
LIST RENT PER SQFT
-
$3,209
COMP ESTIMATED VALUE -
$2.16
COMP AVG. RENT PER SQFT
Comps Range
-
3527 Montair Avenue Long Beach, CA 2
- 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1947
- Rent
- Rent Per SQFT
- $3,030
- $2.03
-
5878 E Pavo Street Long Beach, CA 1
- 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951
LEASED 05/22/20- Rent
- Rent Per SQFT
- $2,850
- $2.16
-
3864 Albury Avenue Long Beach, CA 3
- 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1942
LEASED 06/24/20- Rent
- Rent Per SQFT
- $3,495
- $2.11
-
5335 E Ebell Street Long Beach, CA 4
- 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1944
LEASED 07/16/20- Rent
- Rent Per SQFT
- $3,600
- $2.15
-
3870 Clark Avenue Long Beach, CA 5
- 3 beds 1 baths ∙ 1,683 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,683 Sqft ∙ Built 1946
LEASED 06/15/20- Rent
- Rent Per SQFT
- $3,700
- $2.20
PROPERTY LISTING DETAILS
Vylla Home, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21040079
Last Updated: 02/27/2021
