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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $727.69
- 2 Days on Market
- MLS # : PW21035786
- Updated Date : 02/20/2021 at 13:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,098 sqft
- Baths : 2 full
Listing Agent
Kevin Davis R.e. Broker
Listing Agent's Description
Gorgeous remodeled 3 bedroom, 1 bath front house with studio and 2nd bath attached to 2 car garage. Studio is perfect for home office or extra income as rental. Covered carport with alley access for extra parking. New kitchens, baths, HVAC, landscaping, doors, windows, fixtures, flooring and more!
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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)
- 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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'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: Northwest Torrance
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northwest Torrance
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,710 |
| EXPENSES | Loan Payment | -$2,775 |
| Property Tax | -$774 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$133 | |
|
CASH FLOW
-$1,026
|
||
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.
$799,000
PROJECTED PRICE
$2,710
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,485
LOAN DETAILS
$2,775
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $199,750 |
| Loan Amount | $599,250 |
0.42
YEARS SAVED
$831
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,710
LIST RENT -
$2.47
LIST RENT PER SQFT
-
$2,693
COMP ESTIMATED VALUE -
$2.45
COMP AVG. RENT PER SQFT
Comps Range
-
3633 W 182nd Street Torrance, CA 3
- 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1953
- Rent
- Rent Per SQFT
- $2,710
- $2.47
-
4175 W 182nd Torrance, CA 1
- 3 beds 2 baths ∙ 1,099 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,099 Sqft ∙ Built 1958
LEASED 04/20/20- Rent
- Rent Per SQFT
- $2,600
- $2.37
-
18422 Falda Avenue Torrance, CA 2
- 3 beds 1 baths ∙ 1,093 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,093 Sqft ∙ Built 1953
LEASED 04/21/20- Rent
- Rent Per SQFT
- $2,700
- $2.47
-
18104 Regina Avenue Torrance, CA 4
- 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1950
LEASED 05/17/20- Rent
- Rent Per SQFT
- $2,800
- $2.55
-
17904 Glenburn Avenue Torrance, CA 5
- 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1955
LEASED 10/31/20- Rent
- Rent Per SQFT
- $3,000
- $2.42
PROPERTY LISTING DETAILS
Kevin Davis R.e. Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21035786
Last Updated: 02/20/2021
