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403 E 228th Street Carson, CA 90745

4 Beds 1 Baths 1,442 sqft Built 1951

$685,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $475.03
  • 13 Days on Market
  • MLS # : SB21132491
  • Updated Date : 07/12/2021 at 12:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,442 sqft
  • Baths : 1 full
Listing Agent

Century 21 Union Realty

Listing Agent's Description

Welcome to this bright and well maintained 4-bedroom, 2-bath house with an attached 2-car garage in the City of Carson. Sunny and open spacious kitchen. Laminated flooring in the living room and bedrooms, tile flooring in the kitchen and bonus room. Hallway from the living room to the kitchen has a nice built-in desk and cabinets. The separate laundry room is next to the kitchen. A spacious bonus room adjacent to the garage has its own access, has potential as an adjacent ADU, office or playroom... Manicured and fenced grassy front and back yards equipped with a water sprinkler system. This home offers great privacy with a relaxing backyard perfect for many outdoor activities. There is a beautiful gazebo and a custom well-built shed perfect for extra storage. Also, there is a water filtration/reverse osmosis system, a security system with a monitor and 8 cameras, washer & dryer and refrigerator are to stay with the house. THIS HOUSE IS SELLING “AS- IS” in as is present condition. This home is conveniently located near great parks, close to transportation, schools, shopping centers, restaurants, and freeways. A MUST-SEE HOUSE! COME TO SEE IT ASAP BEFORE IT IS TOO LATE! MAIN HOUSE is 1442 sq ft (per owner), county record shows 1260 sq ft. An extension was added to the original house in 2004. This includes the kitchen, the additional bedroom, a bathroom and a laundry room. Roof on the original part of the house was replaced in 2017. The house was fumigated in Nov 2018. The water heater was replaced in Oct 2019 and a new wall heater was replaced in 2021. The dishwasher was replaced in 2018. Freshly painted inside & out (Jan, 2020).

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: South Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $160k622k

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

Neighborhood: South Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14022941

* 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
Dolores Street Elementary School Primary Regular 617 24 4
Andrew Carnegie Middle School Middle Regular 915 46 3
Carson Senior High School High Regular 1,572 62 3

Dolores Street Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 24
4
GreatSchools Rating

Andrew Carnegie Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 46
3
GreatSchools Rating

Carson Senior High School

  • Education Level: High
  • # of students: 1,572
  • # of teachers: 62
3
GreatSchools Rating
 

$616,500$753,500$685,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,379
Property Tax -$794
Property Insurance -$62
Property Management Fees -$138
CASH FLOW
-$553

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.

$685,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$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$187,275

INVESTMENT

$187,275

Down Payment
$171,250
Rehab Estimate
$5,750
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,379

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$9,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $2,816

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,8203$2,9004$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 403 E 228th Street Carson, CA 2
    • 4 beds 1 baths ∙ 1,442 Sqft ∙ Built 1951 4 beds 1 baths ∙ 1,442 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.96
    •  
  • 28 Paradise Valley North N Carson, CA 1
    • 3 beds 2 baths ∙ 1,111 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,111 Sqft ∙ Built 1963
    LEASED 04/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $2.07
    •  
  • 21244 Menlo Avenue Torrance, CA 3
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1969
    LEASED 05/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.96
    •  
  • 24417 Marbella Avenue Carson, CA 4
    • 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1969
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.86
    •  
  • 23514 Kinard Avenue Carson, CA 5
    • 4 beds 1 baths ∙ 1,665 Sqft ∙ Built 1965 4 beds 1 baths ∙ 1,665 Sqft ∙ Built 1965
    LEASED 04/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.92
    •  
PROPERTY LISTING DETAILS
Kate Marjaniemi
Century 21 Union Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21132491
Last Updated: 07/12/2021
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