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917 Hickory Avenue Torrance, CA 90503

3 Beds 1 Baths 1,225 sqft Built 1951

$845,000

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $689.80
  • 5 Days on Market
  • MLS # : SB20223677
  • Updated Date : 12/10/2020 at 15:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,225 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Charming 3 bedroom 1 bath Pool home in Torrance Gardens with curb appeal on a tree lines street - move-in-condition - enlarged living room with bamboo flooring to relax in plus good sized dinning area - office area for work at home - updated kitchen with crown molding, new hardware, dishwasher , n ewer light fixtures and laminate wood type flooring - bath is remodeled - laundry in the kitchen - no cottage cheese ceilings in this home, only smooth ceilings - all bedrooms have carpet - copper plumbing (verify) - fresh exterior paint - step out into the back yard onto a nice covered patio - step off patio on to a concrete patio, small lawn area and the inviting pool area - enjoy the pool to cool off and have fun when the weather is warm - Convenient to good schools + shopping + restaurants + freeway access + medical + parks & more - great chance to get into the neighborhood - what are you waiting for?

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Madrona

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Madrona

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Fern Elementary School Primary Regular 577 22 7
Madrona Middle School Middle Regular 690 24 7
Torrance High School High Regular 2,113 78 9

Fern Elementary School

  • Education Level: Primary
  • # of students: 577
  • # of teachers: 22
7
GreatSchools Rating

Madrona Middle School

  • Education Level: Middle
  • # of students: 690
  • # of teachers: 24
7
GreatSchools Rating

Torrance High School

  • Education Level: High
  • # of students: 2,113
  • # of teachers: 78
9
GreatSchools Rating
 

$760,500$929,500$845,000

PURCHASE PRICE

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$3,118
Property Tax -$819
Property Insurance -$57
Property Management Fees -$154
CASH FLOW
-$998

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.

$845,000

PROJECTED PRICE

$3,150

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$229,675

INVESTMENT

$229,675

Down Payment
$211,250
Rehab Estimate
$5,750
Closing Costs
$12,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,118

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $211,250
Loan Amount $633,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,150

    LIST RENT
  • $2.57

    LIST RENT PER SQFT
  • $2,919

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1503$3,3004$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 917 Hickory Avenue Torrance, CA 2
    • 3 beds 1 baths ∙ 1,225 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,225 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.57
    •  
  • 1730 Fern Avenue Torrance, CA 1
    • 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1951
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.50
    •  
  • 3615 W 224th Street Torrance, CA 3
    • 3 beds 1 baths ∙ 1,480 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,480 Sqft ∙ Built 1952
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.23
    •  
  • 3134 Torrance Boulevard Torrance, CA 4
    • 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1951
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.35
    •  
  • 2759 Sonoma Street Torrance, CA 5
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1951
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.45
    •  
PROPERTY LISTING DETAILS
Raymond Millman
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20223677
Last Updated: 12/10/2020
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