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PROPERTY INFO
FACTS
- Single Family
- Built In 1944
- Price/Sqft : $647.22
- 7 Days on Market
- MLS # : PV21015701
- Updated Date : 01/25/2021 at 15:10
CONSTRUCTION
- Beds : 3
- Floor Size : 1,080 sqft
- Baths : 1 full
Listing Agent
West Shores Realty, Inc.
Listing Agent's Description
This charming three-bedroom one bath is an opportunity just waiting for you! Cute and cozy corner lot home, one level, large lot size. Fireplace in the living room. Kitchen and dining room has wood flooring. Kitchen has granite countertops, with a bay window overlooking the backyard. There is a generously sized living room space and dining area, with lots of natural light. Washer and Dryer are located in the garage. The backyard has a detached two-car garage. There is a low maintenance front yard and a two-car garage. This home is situated in the Bixby neighborhood, convenient to shopping, the Metro, and the 405/710 Freeways. property is sold "AS IS" condition.
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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: Country Club Manor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Country Club Manor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,670 |
| EXPENSES | Loan Payment | -$2,428 |
| Property Tax | -$737 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$131 | |
|
CASH FLOW
-$679
|
||
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.
$699,000
PROJECTED PRICE
$2,670
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 6.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| 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
$190,985
LOAN DETAILS
$2,428
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $174,750 |
| Loan Amount | $524,250 |
1.42
YEARS SAVED
$5,427
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,670
LIST RENT -
$2.47
LIST RENT PER SQFT
-
$2,457
COMP ESTIMATED VALUE -
$2.28
COMP AVG. RENT PER SQFT
Comps Range
-
403 E 44th Circle Long Beach, CA 3
- 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944
![property image]()
- Rent
- Rent Per SQFT
- $2,670
- $2.47
-
5480 Lime Avenue Long Beach, CA 1
- 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
![property image]()
LEASED 06/04/20- Rent
- Rent Per SQFT
- $2,500
- $2.31
-
4417 Boyar Avenue Long Beach, CA 2
- 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944
![property image]()
LEASED 08/02/19- Rent
- Rent Per SQFT
- $2,650
- $2.45
-
2749 E Jackson Street Carson, CA 4
- 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1937
![property image]()
LEASED 08/07/20- Rent
- Rent Per SQFT
- $2,795
- $2.30
-
3946 N Marshall Way Long Beach, CA 5
- 3 beds 1 baths ∙ 1,395 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,395 Sqft ∙ Built 1941
![property image]()
LEASED 11/14/19- Rent
- Rent Per SQFT
- $2,850
- $2.04
PROPERTY LISTING DETAILS
West Shores Realty, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PV21015701
Last Updated: 01/25/2021
