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3959 Newton Street Torrance, CA 90505

3 Beds 2 Baths 1,348 sqft Built 1950

$939,999

List Price

$3,260

$3K - $3.5K

Rent Est.

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.

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: Walteria

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k901k

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

Neighborhood: Walteria

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Riviera Elementary School Primary Regular 645 24 8
Edward J. Richardson Middle School Middle Regular 691 25 9
South High School High Regular 2,132 88 10

Riviera Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 24
8
GreatSchools Rating

Edward J. Richardson Middle School

  • Education Level: Middle
  • # of students: 691
  • # of teachers: 25
9
GreatSchools Rating

South High School

  • Education Level: High
  • # of students: 2,132
  • # of teachers: 88
10
GreatSchools Rating
 

$845,999$1,033,999$939,999

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$254,850

INVESTMENT

$254,850

Down Payment
$235,000
Rehab Estimate
$5,750
Closing Costs
$14,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,265

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $235,000
Loan Amount $704,999
See What Happens When You Reinvest Cash Flow

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
$2,750
1$2,7502$3,2603$3,3004$3,3005$3,850
$3,850
RENT COMPS ANALYSIS
  • 3959 Newton Street Torrance, CA 2
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $2.42
    •  
  • 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
    •  
  • 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
James Sanders
Re/max Estate Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21011331
Last Updated: 01/25/2021
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