Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3917 Mcnab Avenue Long Beach, CA 90808

3 Beds 2 Baths 1,453 sqft Built 1954

$749,900

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1954
  • Price/Sqft : $516.10
  • 18 Days on Market
  • MLS # : PW20223436
  • Updated Date : 11/07/2020 at 13:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,453 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Beautiful Move In Ready Property In Desired Carson Park Of The 90808. This Must See Property Is Situated On A Great Tree-Lined Street And Is Just A Short Walk To Heartwell Park And Coveted Patrick Henry Elementary. Features Include: Open And Remodeled Kitchen With Center Island And Slab Granite Countertops, Oak Hardwood Flooring, Added Family Room With Cozy Gas Fireplace, Recessed Lighting, Double Pane Windows Throughout, En Suite Master Bedroom With Tastefully Remodeled Bath, Newer Roof, Newer A/C And Heater, New Water Heater, Full Copper Plumbing, Direct Garage Access, Spacious And Private Backyard With Large Covered Patio And Plenty Of Storage. Lots Of Top Dollar Upgrades On This Home. Hurry, This One Will Not Last!

SEE MORE

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: Plaza East

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: Plaza East

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14493697

* 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
Henry K-5 Dual Immersion Elementary School Primary Regular 851 28 9
Marshall Middle School Middle Regular 875 34 8
Lakewood High School High Regular 3,553 134 6

Henry K-5 Dual Immersion Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 28
9
GreatSchools Rating

Marshall Middle School

  • Education Level: Middle
  • # of students: 875
  • # of teachers: 34
8
GreatSchools Rating

Lakewood High School

  • Education Level: High
  • # of students: 3,553
  • # of teachers: 134
6
GreatSchools Rating
 

$674,910$824,890$749,900

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,767
Property Tax -$802
Property Insurance -$62
Property Management Fees -$140
CASH FLOW
-$911

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.

$749,900

PROJECTED PRICE

$2,860

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $2,986

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8503$2,8604$2,9505$3,600
$3,600
RENT COMPS ANALYSIS
  • 3917 Mcnab Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $1.97
    •  
  • 3516 Karen Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,219 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,219 Sqft ∙ Built 1953
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.13
    •  
  • 4559 Knoxville Avenue Lakewood, CA 2
    • 3 beds 1 baths ∙ 1,438 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,438 Sqft ∙ Built 1960
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.98
    •  
  • 6232 Freckles Rd Lakewood, CA 4
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.96
    •  
  • 5335 E Ebell Street Long Beach, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Brandon Caldarella
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20223436
Last Updated: 11/07/2020
BESbswy