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37 W Plymouth Street Long Beach, CA 90805

3 Beds 2 Baths 1,132 sqft Built 1923

$529,888

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1923
  • Price/Sqft : $468.10
  • 2 Days on Market
  • MLS # : DW21151709
  • Updated Date : 07/12/2021 at 13:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,132 sqft
  • Baths : 2 full
Listing Agent

Realty Executives Com. & Res.

Listing Agent's Description

Welcome to 37 West Plymouth St. in the Heart of North Long Beach. This beautiful property features 3 bedrooms and 2 bathrooms with over 1100 + square feet of living space. The exterior of the property has recently been painted along with a new roof. It’s a perfect investment opportunity for a first time homebuyer or an investor that may look to rent the house and build a potential ADU in the back to create another source of income and cash flow. With limited inventory. This great curb appeal property will not last long. Must see to appreciate!!

SEE MORE

MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Sutter

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $147k622k

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

Neighborhood: Sutter

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $11462941

* 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
Dooley Elementary School Primary Magnet 1,102 41 5
Lindsey Academy Middle Magnet 860 31 3
Jordan High School High Regular 3,367 133 2

Dooley Elementary School

  • Education Level: Primary
  • # of students: 1,102
  • # of teachers: 41
5
GreatSchools Rating

Lindsey Academy

  • Education Level: Middle
  • # of students: 860
  • # of teachers: 31
3
GreatSchools Rating

Jordan High School

  • Education Level: High
  • # of students: 3,367
  • # of teachers: 133
2
GreatSchools Rating
 

$476,899$582,877$529,888

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,841
Property Tax -$574
Property Insurance -$54
Property Management Fees -$120
CASH FLOW
-$149

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.

$529,888

PROJECTED PRICE

$2,440

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,170

INVESTMENT

$146,170

Down Payment
$132,472
Rehab Estimate
$5,750
Closing Costs
$7,948

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,472
Loan Amount $397,416
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$26,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $2,453

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4403$2,7504$2,795
$2,795
RENT COMPS ANALYSIS
  • 37 W Plymouth Street Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1923
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $2.16
    •  
  • 172 W Plymouth Street Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1916 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1916
    property image
    LEASED 05/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.91
    •  
  • 36 W Zane Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1929
    property image
    LEASED 06/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.29
    •  
  • 2749 E Jackson Street Carson, CA 4
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1937
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.30
    •  
PROPERTY LISTING DETAILS
David Gomez
Realty Executives Com. & Res.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21151709
Last Updated: 07/12/2021
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