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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $516.95
- 13 Days on Market
- MLS # : RS20261273
- Updated Date : 01/02/2021 at 17:07
CONSTRUCTION
- Beds : 3
- Floor Size : 1,681 sqft
- Baths : 2 full
Listing Agent
California Housing Store, Inc
Listing Agent's Description
Corner lot home in the highly desired Carson Park neighborhood, this property offers a spacious living room, dining room, family room, master bedroom en-suite, two fireplaces, and two updated bathrooms with skylights. Further enhancing this property is a detached permitted workshop with a bathroom, which can be occupied as living space. Upgrades include patio cover, dual pane windows, central air and heating, exterior paint, and maintained landscaping.
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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: El Dorado Park North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: El Dorado Park North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,230 |
| EXPENSES | Loan Payment | -$3,206 |
| Property Tax | -$919 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$1,121
|
||
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.
$869,000
PROJECTED PRICE
$3,230
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.3% |
| 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
$236,035
LOAN DETAILS
$3,206
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $217,250 |
| Loan Amount | $651,750 |
0.5
YEARS SAVED
$1,844
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,230
LIST RENT -
$1.92
LIST RENT PER SQFT
-
$3,555
COMP ESTIMATED VALUE -
$2.12
COMP AVG. RENT PER SQFT
Comps Range
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3703 Roxanne Avenue Long Beach, CA 3
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- Rent Per SQFT
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6232 Freckles Rd Lakewood, CA 1
- 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950
LEASED 01/01/20- Rent
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- $1.96
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3062 Volk Avenue Long Beach, CA 2
- 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954
LEASED 09/03/19- Rent
- Rent Per SQFT
- $3,190
- $2.13
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3364 Hackett Avenue Long Beach, CA 4
- 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 1953
LEASED 12/24/20- Rent
- Rent Per SQFT
- $3,800
- $2.22
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3367 Roxanne Avenue Long Beach, CA 5
- 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1954
LEASED 08/23/20- Rent
- Rent Per SQFT
- $4,200
- $2.15
PROPERTY LISTING DETAILS
California Housing Store, Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: RS20261273
Last Updated: 01/02/2021
