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431 E Plymouth Street Long Beach, CA 90805

3 Beds 1 Baths 1,125 sqft Built 1924

$499,999

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $444.44
  • 10 Days on Market
  • MLS # : PW21013005
  • Updated Date : 01/28/2021 at 05:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,125 sqft
  • Baths : 1 full
Listing Agent

Home Smart Realty Group

Listing Agent's Description

Opportunity Knocks with this Lovely Spanish Style 3 Bedroom Bungalow Home. This little Gem is just waiting for its next family. Amenities include: Coved Ceilings, Faux Fireplace, Spacious Living Room, Separate Dining Room, Functional Kitchen, Inside Laundry, 1,125 Sq Ft of Living Space, Large Front & Backyards, Detached Garage and 2 Large Storage Sheds. This property is conveniently located in North Long Beach, close to Schools, Parks, Shopping and easy access to freeways and public transportation. This is a Hot Property and is priced to Sell! Call today to schedule an appointment.

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: Addams

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $126k622k

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

Neighborhood: Addams

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $10602941

* 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
Addams Elementary School Primary Regular 945 36 5
Lindsey Academy Middle Magnet 860 31 3
Jordan High School High Regular 3,367 133 2

Addams Elementary School

  • Education Level: Primary
  • # of students: 945
  • # of teachers: 36
5
GreatSchools Rating

Lindsey Academy

  • Education Level: Middle
  • # of students: 860
  • # of teachers: 31
3
GreatSchools Rating

Jordan High School

  • Education Level: High
  • # of students: 3,367
  • # of teachers: 133
2
GreatSchools Rating
 

$449,999$549,999$499,999

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,737
Property Tax -$542
Property Insurance -$54
Property Management Fees -$122
CASH FLOW
$26

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$499,999

PROJECTED PRICE

$2,480

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$41,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $2,663

    COMP ESTIMATED VALUE
  • $2.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4803$2,5004$2,650
$2,650
RENT COMPS ANALYSIS
  • 431 E Plymouth Street Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,125 Sqft ∙ Built 1924 3 beds 1 baths ∙ 1,125 Sqft ∙ Built 1924
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $2.20
    •  
  • 215 E Scott Street Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $2.34
    •  
  • 5480 Lime Avenue Long Beach, CA 3
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.31
    •  
  • 4417 Boyar Avenue Long Beach, CA 4
    • 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.45
    •  
PROPERTY LISTING DETAILS
Kate Kostapapas
Home Smart Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21013005
Last Updated: 01/28/2021
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