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5066 N Raton Circle Long Beach, CA 90807

3 Beds 2 Baths 1,336 sqft Built 1942

$685,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1942
  • Price/Sqft : $512.72
  • 3 Days on Market
  • MLS # : PW20259886
  • Updated Date : 12/18/2020 at 15:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,336 sqft
  • Baths : 2 full
Listing Agent

Ruby Wool, Broker

Listing Agent's Description

Custom move-in condition.Freshly painted All construction done by licensed California contractor. Quality features through out this home with a designer touch. Full body mirror on closet door in master suite.3 #rd bedroom maybe also used as home office with closet Jewell of the neighbor hood with gated double car garage ample space for motor cycle or other bikes. Delightful backyard for entertaining This property is a must show as soon as possible because viewing of the interior and quality of work it will sell fast. Easy quick access to freeways and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bixby Knolls

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $186k671k

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

Neighborhood: Bixby Knolls

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492977

* 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
Barton Elementary School Primary Regular 609 25 4
Hughes Middle School Middle Magnet 1,521 51 7
Jordan High School High Regular 3,367 133 2

Barton Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 25
4
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,521
  • # of teachers: 51
7
GreatSchools Rating

Jordan High School

  • Education Level: High
  • # of students: 3,367
  • # of teachers: 133
2
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 -$2,527
Property Tax -$722
Property Insurance -$59
Property Management Fees -$138
CASH FLOW
-$627

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) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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.

$2,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$10,183

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
  • $2.11

    LIST RENT PER SQFT
  • $2,973

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,675
1$2,6752$2,8003$2,8204$2,9505$3,195
$3,195
RENT COMPS ANALYSIS
  • 5066 N Raton Circle Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1942
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $2.11
    •  
  • 5222 Obispo Avenue Lakewood, CA 1
    • 3 beds 1 baths ∙ 1,165 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,165 Sqft ∙ Built 1952
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $2.30
    •  
  • 2918 Silva Street Lakewood, CA 2
    • 3 beds 1 baths ∙ 1,210 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,210 Sqft ∙ Built 1952
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.31
    •  
  • 4743 Boyar Avenue Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1942
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.97
    •  
  • 2928 Dashwood Street Lakewood, CA 5
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1952
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.32
    •  
PROPERTY LISTING DETAILS
Ruby Mccabe-wool
Ruby Wool, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20259886
Last Updated: 12/18/2020
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