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5940 John Avenue Long Beach, CA 90805

3 Beds 2 Baths 1,734 sqft Built 1947

$589,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $339.68
  • 3 Days on Market
  • MLS # : RS21034813
  • Updated Date : 02/19/2021 at 12:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Coastal Prop

Listing Agent's Description

Great Pride Of Ownership!!! This wonderful home has been perfectly taken care of by its owners and you can tell as soon as to pull up. A beautiful garden full of fruit trees and flowers welcomes you. Then walk through a nice quaint courtyard with more flowers, plants and trees. The home offers 3 very large bedrooms, 2 baths, PLUS a bonus room with another bath. This makes a great mother-in-law quarters, studio, or even rental. Everything in the home has been upgraded, plumbing, electrical, roof, windows, stucco, kitchen, and fresh paint. Conveniently located close to FWYs, airport and schools. Come take a look, you will love it!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]
  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Grant

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k622k

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

Neighborhood: Grant

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $11202941

* 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
Harte Elementary School Primary Regular 932 33 5
Lindbergh Stem Academy Middle Regular 603 25 4
Jordan High School High Regular 3,367 133 2

Harte Elementary School

  • Education Level: Primary
  • # of students: 932
  • # of teachers: 33
5
GreatSchools Rating

Lindbergh Stem Academy

  • Education Level: Middle
  • # of students: 603
  • # of teachers: 25
4
GreatSchools Rating

Jordan High School

  • Education Level: High
  • # of students: 3,367
  • # of teachers: 133
2
GreatSchools Rating
 

$530,100$647,900$589,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,046
Property Tax -$638
Property Insurance -$69
Property Management Fees -$126
CASH FLOW
-$309

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.

$589,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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-$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$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$18,176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $3,040

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,570
1$2,5702$2,6503$3,2004$3,200
$3,200
RENT COMPS ANALYSIS
  • 5940 John Avenue Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.48
    •  
  • 5602 California Avenue Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1938
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.66
    •  
  • 5202 Minturn Avenue Lakewood, CA 3
    • 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 1952
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.77
    •  
  • 2516 Dollar Street Lakewood, CA 4
    • 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1955
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.83
    •  
PROPERTY LISTING DETAILS
Nivia Licardie
Keller Williams Coastal Prop
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS21034813
Last Updated: 02/19/2021
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