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PROPERTY INFO
FACTS
- Single Family
- Built In 1946
- Price/Sqft : $504.01
- 48 Days on Market
- MLS # : DW20257654
- Updated Date : 01/27/2021 at 13:23
CONSTRUCTION
- Beds : 3
- Floor Size : 1,121 sqft
- Baths : 1 full
Listing Agent
Remax College Park Realty
Listing Agent's Description
Great opportunity to own in the desirable Deforest area. This house offers 3 bedrooms 2 bathrooms, plus a den. Roof has recently been replaced, and plumbing has been upgraded to copper. House has been divided to accommodate 2 families but can be easily converted back. Long drive way with plenty of off street parking. Extended 2 car garage has lots of storage space, and room conversion with bathroom. The backyard is large great for kids to play in, gardening, and entertaining. Close to schools, Michelle Obama Library, shopping, 710 and 91 freeways.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Deforest Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Deforest Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,520 |
| EXPENSES | Loan Payment | -$1,962 |
| Property Tax | -$612 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
-$232
|
||
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.
$565,000
PROJECTED PRICE
$2,520
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 10.3% |
| 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
$155,475
LOAN DETAILS
$1,962
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $141,250 |
| Loan Amount | $423,750 |
4.17
YEARS SAVED
$22,333
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,520
LIST RENT -
$2.25
LIST RENT PER SQFT
-
$2,646
COMP ESTIMATED VALUE -
$2.36
COMP AVG. RENT PER SQFT
Comps Range
-
356 E Harding Street Long Beach, CA 4
- 3 beds 1 baths ∙ 1,121 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,121 Sqft ∙ Built 1946
- Rent
- Rent Per SQFT
- $2,520
- $2.25
-
215 E Scott Street Long Beach, CA 1
- 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941
LEASED 08/14/19- Rent
- Rent Per SQFT
- $2,395
- $2.34
-
45 W Plymouth Street Long Beach, CA 2
- 3 beds 2 baths ∙ 1,096 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,096 Sqft ∙ Built 1955
LEASED 04/15/20- Rent
- Rent Per SQFT
- $2,450
- $2.24
-
5480 Lime Avenue Long Beach, CA 3
- 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
LEASED 06/04/20- Rent
- Rent Per SQFT
- $2,500
- $2.31
-
6675 Lime Avenue Long Beach, CA 5
- 3 beds 1 baths ∙ 1,016 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,016 Sqft ∙ Built 1944
LEASED 12/17/20- Rent
- Rent Per SQFT
- $2,595
- $2.55
PROPERTY LISTING DETAILS
Remax College Park Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: DW20257654
Last Updated: 01/27/2021
