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PROPERTY INFO
FACTS
- Single Family
- Built In 1950
- Price/Sqft : $697.33
- 9 Days on Market
- MLS # : SB21011331
- Updated Date : 01/25/2021 at 11:54
CONSTRUCTION
- Beds : 3
- Floor Size : 1,348 sqft
- Baths : 2 full
Listing Agent
Re/max Estate Properties
Listing Agent's Description
Great 3 bdrm 2 bath Walteria Pool Home with lots of charm. The master is over-sized with extra large enclosed shower in master bath which was remodeled in 2020. Smaller original master bedroom with bath was totally remodeled and re-plumbed all the way to the sewer in 2014. The home features wood beam ceilings through small master bedroom and living room. The master bedroom and other bedroom were additions and the foundation was set for a two story. New windows and plantation shutters installed 2 years ago throughout the home. The roof and wood trim were done last year as well as the sunny enclosed patio off the kitchen. The huge front yard is all fenced with wrought iron and pillars and the backyard is block wall. The sparkling pool and spa are inviting all year long. The pool motor was replaced a few years ago with a high efficiency motor and equipment has roof over it. There is a gazebo next to the pool and a child proof gate for safety. There is a patio off the pull for the outdoor entertainment. The side yard has two sheds but one could be taken out and that side could be used for parking. There is a white vinyl fence that opens to that portion of the yard. Located in great Torrance School District, walking distance to park, stores and restaurants.
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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: Walteria
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Walteria
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,260 |
| EXPENSES | Loan Payment | -$3,265 |
| Property Tax | -$911 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$160 | |
|
CASH FLOW
-$1,135
|
||
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.
$939,999
PROJECTED PRICE
$3,260
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 8.1% |
| 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
$254,850
LOAN DETAILS
$3,265
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $235,000 |
| Loan Amount | $704,999 |
0.58
YEARS SAVED
$1,798
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,260
LIST RENT -
$2.42
LIST RENT PER SQFT
-
$3,255
COMP ESTIMATED VALUE -
$2.42
COMP AVG. RENT PER SQFT
Comps Range
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3959 Newton Street Torrance, CA 2
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- Rent
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- $3,260
- $2.42
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23930 Los Codona Avenue Torrance, CA 1
- 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1970
LEASED 09/02/20- Rent
- Rent Per SQFT
- $2,750
- $2.25
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3252 Dalemead Street Torrance, CA 3
- 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1950
LEASED 04/01/20- Rent
- Rent Per SQFT
- $3,300
- $2.52
-
24231 Ward Torrance, CA 4
- 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1954
LEASED 09/30/20- Rent
- Rent Per SQFT
- $3,300
- $2.35
-
4002 W 234th Street Torrance, CA 5
- 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1961
LEASED 07/01/20- Rent
- Rent Per SQFT
- $3,850
- $2.54
PROPERTY LISTING DETAILS
Re/max Estate Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB21011331
Last Updated: 01/25/2021
