Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

71 W Barclay Street Long Beach, CA 90805

3 Beds 2 Baths 1,155 sqft Built 1956

$540,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $467.53
  • 7 Days on Market
  • MLS # : PW20248840
  • Updated Date : 11/30/2020 at 17:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,155 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Synergy

Listing Agent's Description

Welcome to this lovely Long Beach Home! Featuring 1,155 Sqft of living space, 3 spacious bedrooms, 2 bathrooms, a large living room open to a dining area, and a beautiful updated kitchen! Other features include laminate wood floors, recessed lighting, plenty of natural light, granite counters, updated cabinets, tons of cabinet and counter-space and so much more! The lot is also a good size measuring 6,030 Sqft and featuring a large front yard, attached 2 car garage, and a covered patio! There are also many amenities nearby, just minutes from multiple freeways, parks, schools, restaurants and shops! Thank you so much for viewing this home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Longwood

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: Longwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12552941

* 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
Powell Academy For Success K-8 Primary Regular 1,377 49 6
Powell Academy For Success K-8 Middle Regular 1,377 49 6
Jordan High School High Regular 3,367 133 2

Powell Academy For Success K-8

  • Education Level: Primary
  • # of students: 1,377
  • # of teachers: 49
6
GreatSchools Rating

Powell Academy For Success K-8

  • Education Level: Middle
  • # of students: 1,377
  • # of teachers: 49
6
GreatSchools Rating

Jordan High School

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

$486,000$594,000$540,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,992
Property Tax -$591
Property Insurance -$55
Property Management Fees -$123
CASH FLOW
-$242

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.

$540,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$25,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $2,506

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5003$2,5204$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 71 W Barclay Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,155 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,155 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $2.18
    •  
  • 215 E Scott Street Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $2.34
    •  
  • 5480 Lime Avenue Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.31
    •  
  • 138 E Louise Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1937
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
  • 221 W 48th Street Long Beach, CA 5
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1959
    property image
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.14
    •  
PROPERTY LISTING DETAILS
Angel&pat Hernandez
Realty One Group Synergy
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20248840
Last Updated: 11/30/2020
BESbswy