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531 E Cassidy Street Carson, CA 90746

4 Beds 3 Baths 2,055 sqft Built 1966

$640,000

List Price

$3,380

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $311.44
  • 7 Days on Market
  • MLS # : PW21021219
  • Updated Date : 02/01/2021 at 20:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,055 sqft
  • Baths : 2 full , 1 half
Listing Agent

Beach Cities Properties, Inc.

Listing Agent's Description

Perfect opporunity for those buyers who are looking for a cosmetic fixer. This oversized 4 bedroom 2 1/2 bathroom home is the perfect blank canvas in a very quite pocket located at the beginning of a cul-de-sac. With the spacious floor plan and central A/C the opportunities are endless for this home. This one won't last. PLEASE DO NOT DISTURB TENANTS.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $174k622k

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

Neighborhood: North Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $14553104

* 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
Ambler Avenue Elementary School Primary Regular 437 20 4
Glenn Hammond Curtiss Middle School Middle Regular 581 30 5
Gardena Senior High School High Regular 1,598 67 2

Ambler Avenue Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 20
4
GreatSchools Rating

Glenn Hammond Curtiss Middle School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 30
5
GreatSchools Rating

Gardena Senior High School

  • Education Level: High
  • # of students: 1,598
  • # of teachers: 67
2
GreatSchools Rating
 

$576,000$704,000$640,000

PURCHASE PRICE

$3,042$3,718$3,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,380
EXPENSES Loan Payment -$2,223
Property Tax -$719
Property Insurance -$77
Property Management Fees -$166
CASH FLOW
$195

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.

$640,000

PROJECTED PRICE

$3,380

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.4%
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$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$175,350

INVESTMENT

$175,350

Down Payment
$160,000
Rehab Estimate
$5,750
Closing Costs
$9,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,223

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $160,000
Loan Amount $480,000
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$70,880

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,380

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $3,384

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8503$3,3804$3,500
$3,500
RENT COMPS ANALYSIS
  • 531 E Cassidy Street Carson, CA 3
    • 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $3,380
    • $1.64
    •  
  • 19327 Harlan Avenue Carson, CA 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1964
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.60
    •  
  • 17808 Tamcliff Avenue Carson, CA 2
    • 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1966
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.53
    •  
  • 18618 Bonham Avenue Carson, CA 4
    • 5 beds 3 baths ∙ 1,938 Sqft ∙ Built 1953 5 beds 3 baths ∙ 1,938 Sqft ∙ Built 1953
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.81
    •  
PROPERTY LISTING DETAILS
Ernie Gomez
Beach Cities Properties, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21021219
Last Updated: 02/01/2021
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