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PROPERTY INFO
FACTS
- Single Family
- Built In 1950
- Price/Sqft : $636.19
- 6 Days on Market
- MLS # : PW21002100
- Updated Date : 01/05/2021 at 15:26
CONSTRUCTION
- Beds : 3
- Floor Size : 1,061 sqft
- Baths : 1 full
Listing Agent
Keller Williams Coastal Prop.
Listing Agent's Description
South of Conant beauty. The front door opens up to hardwood flooring streaming with sunlight. The dining area has a bay window overlooking a beautiful yard. Remodeled kitchen with stainless steel high-end appliances, dark gray cabinets, quartz countertops, farmhouse sink, and a subway glass backsplash. French door leads to a covered patio great for entertaining. The Master bedroom is large and can accommodate king size furniture. Central air and heat, newer windows, fenced front yard, and block back walls. Long driveway with a two-car garage.
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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: South of Conant
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South of Conant
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,730 |
| EXPENSES | Loan Payment | -$2,345 |
| Property Tax | -$716 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$134 | |
|
CASH FLOW
-$517
|
||
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.
$675,000
PROJECTED PRICE
$2,730
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| 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
$184,625
LOAN DETAILS
$2,345
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $168,750 |
| Loan Amount | $506,250 |
2.33
YEARS SAVED
$11,078
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,730
LIST RENT -
$2.57
LIST RENT PER SQFT
-
$2,366
COMP ESTIMATED VALUE -
$2.23
COMP AVG. RENT PER SQFT
Comps Range
-
5356 E Wardlow Road Long Beach, CA 1
- 3 beds 1 baths ∙ 1,061 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,061 Sqft ∙ Built 1950
- Rent
- Rent Per SQFT
- $2,730
- $2.57
-
3016 N Greenbrier Road Long Beach, CA 2
- 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949
LEASED 02/01/20- Rent
- Rent Per SQFT
- $2,750
- $2.25
-
2922 Knoxville Avenue Long Beach, CA 3
- 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1951
LEASED 05/06/20- Rent
- Rent Per SQFT
- $2,750
- $2.28
-
3156 Josie Avenue Long Beach, CA 4
- 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1952
LEASED 07/08/20- Rent
- Rent Per SQFT
- $2,750
- $2.23
-
5878 E Pavo Street Long Beach, CA 5
- 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951
LEASED 05/22/20- Rent
- Rent Per SQFT
- $2,850
- $2.16
PROPERTY LISTING DETAILS
Keller Williams Coastal Prop.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21002100
Last Updated: 01/05/2021
