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PROPERTY INFO
FACTS
- Single Family
- Built In 1947
- Price/Sqft : $568.59
- 2 Days on Market
- MLS # : DW21151579
- Updated Date : 07/12/2021 at 16:57
CONSTRUCTION
- Beds : 3
- Floor Size : 1,108 sqft
- Baths : 1 full
Listing Agent
Remax Innovative
Listing Agent's Description
A VERY BEAUTIFUL HOME IN NEED OF NEW HOMEOWNERS! REGULAR SALE!! THIS HOME HAS A CUSTOM BRICK DRIVEWAY AND ENTRY. LOW MAINTENANCE AND DROUGHT-FRIENDLY FAUX GRASS FRONT YARD. IF YOU LOVE TO COOK, THIS KITCHEN IS UPGRADED AND, IS EQUIPPED WITH UNDER MOUNT CABINET LIGHTING. THIS HOME ALSO HAS THREE FULL-SIZED BEDROOMS AND A MASTER WITH A GOOD SIZE WALK-IN CLOSET AND TONS OF LIGHT. THE BATHROOM IS UPDATED WITH NEWER FIXTURES, CLASSY TILE, AND QUARTZ COUNTERS. LOCATED IN A GREAT AREA OF NORTH LONG BEACH AND CENTRALLY LOCATED TO JUST ABOUT EVERYTHING. MAKE THIS HOME YOURS!!
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MARKET HIGHLIGHTS
- As part of Southern California area, Los Angeles market inherits all the benefits from the area.
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Houghton Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Houghton Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,560 |
| EXPENSES | Loan Payment | -$2,188 |
| Property Tax | -$683 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$125 | |
|
CASH FLOW
-$490
|
||
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.
$630,000
PROJECTED PRICE
$2,560
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| 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
$172,700
LOAN DETAILS
$2,188
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $157,500 |
| Loan Amount | $472,500 |
2.25
YEARS SAVED
$9,884
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,560
LIST RENT -
$2.31
LIST RENT PER SQFT
-
$2,565
COMP ESTIMATED VALUE -
$2.32
COMP AVG. RENT PER SQFT
Comps Range
-
5880 Lewis Avenue Long Beach, CA 1
- 3 beds 1 baths ∙ 1,108 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,108 Sqft ∙ Built 1947
- Rent
- Rent Per SQFT
- $2,560
- $2.31
-
5530 Chestnut Avenue Long Beach, CA 2
- 3 beds 1 baths ∙ 1,148 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,148 Sqft ∙ Built 1953
LEASED 02/07/21- Rent
- Rent Per SQFT
- $2,580
- $2.25
-
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 07/10/21- Rent
- Rent Per SQFT
- $2,600
- $2.40
-
36 W Zane Street Long Beach, CA 4
- 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1929
LEASED 06/04/21- Rent
- Rent Per SQFT
- $2,750
- $2.29
-
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
Remax Innovative
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: DW21151579
Last Updated: 07/12/2021
