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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $636.36
- 3 Days on Market
- MLS # : PW21052719
- Updated Date : 03/12/2021 at 17:17
CONSTRUCTION
- Beds : 3
- Floor Size : 1,477 sqft
- Baths : 2 full
Listing Agent
Sharon Amarantos, Broker
Listing Agent's Description
This 3 bedroom 2 bath home is located in the fabulous neighborhood of Los Altos. From the lovely curb appeal to the open floorplan and gorgeous hardwood floors, this home has it all! As you enter the home you will appreciate the vaulted, open beam ceilings and cozy fireplace in the living room. The dining area, kitchen and family room overlook the peaceful backyard. Two separate sliding doors provide access to the spacious and tropical backyard which features several seating areas, grass to play on, and a patio cover with nice shade for outdoor dining.The remodeled kitchen is open to the family room and provides a big butcherblock island with seating, stainless steel appliances, lovely quartz countertops, self closing cabinets and drawers, and a separate bar area. The full guest bathroom and laundry are conveniently located right off the family room. Each of the 3 bedrooms are good sized, and feature nice windows, ceiling fans, and big closets. The 2nd full bathroom is located in the hallway near the bedrooms and features custom tile tub surround and quartz counters. There are 2 split heating and air conditioning units which keep the home warm in the winter and cool in the summer. Beautifully finished 2 car detached garage has epoxy floor, insulation, and drywall. This home is located close to shopping and restaurants, and walking distance to award winning Prisk Elementary and Stanford Middle School.
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MARKET HIGHLIGHTS
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
- As part of Southern California area, Los Angeles market inherits all the benefits from the area.
- 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]
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Los Altos South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Los Altos South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,090 |
| EXPENSES | Loan Payment | -$3,265 |
| Property Tax | -$997 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$151 | |
|
CASH FLOW
-$1,386
|
||
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.
$939,900
PROJECTED PRICE
$3,090
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.9% |
| 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
$254,824
LOAN DETAILS
$3,265
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $234,975 |
| Loan Amount | $704,925 |
0.17
YEARS SAVED
$139
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,090
LIST RENT -
$2.09
LIST RENT PER SQFT
-
$3,275
COMP ESTIMATED VALUE -
$2.22
COMP AVG. RENT PER SQFT
Comps Range
-
5710 E 23rd Street Long Beach, CA 3
- 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1953
- Rent
- Rent Per SQFT
- $3,090
- $2.09
-
5250 E Patterson Street Long Beach, CA 1
- 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1953
LEASED 01/10/21- Rent
- Rent Per SQFT
- $2,995
- $2.15
-
2216 Canehill Avenue Long Beach, CA 2
- 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1953
LEASED 10/18/20- Rent
- Rent Per SQFT
- $2,995
- $2.09
-
6310 E Stearns Street Long Beach, CA 4
- 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1952
LEASED 05/20/20- Rent
- Rent Per SQFT
- $3,200
- $2.26
-
2661 Marber Avenue Long Beach, CA 5
- 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1954 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1954
LEASED 10/09/20- Rent
- Rent Per SQFT
- $3,295
- $2.37
PROPERTY LISTING DETAILS
Sharon Amarantos, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21052719
Last Updated: 03/12/2021
