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101 W. Riverdale #17 Orange, CA 92865

3 Beds 2 Baths 1,324 sqft Built 1971

$540,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $407.85
  • 3 Days on Market
  • MLS # : MB21019387
  • Updated Date : 01/30/2021 at 07:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,324 sqft
  • Baths : 1 full , 1 half
Listing Agent

First Diversified Realty

Listing Agent's Description

A lovely two story 3 bedroom home in the wonderful, serene Tamarin Community. Great size living room with cozy gas fireplace and wood like flooring throughout the first floor. Kitchen has white cabinets, gas range, built-in microwave, dishwasher, and a peek-a-boo view of the living and dining room areas. Guest bath and inside laundry on the first floor. The living room closet also has a cute, small desk set up. All 3 bedrooms are upstairs and have ceiling fans installed. Spacious master suite with mirrored closets, two additional nicely sized bedrooms. Two assigned carports right outside of the back patio gate. Which leads into a beautiful, private patio, great for relaxing. There is also a storage closet in the back patio. Brand new water heater was recently installed. The HOA includes a sparkling pool and spa, picnic tables, and BBQ area. There is also gate with direct access to riverbed for biking and walking. *This home is an attached SFR.*

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MARKET HIGHLIGHTS

  • 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 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)
  • 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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]
  • 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

Zip Code: 92865

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92865

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17223345

* 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
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Cerro Villa Middle School

  • Education Level: Middle
  • # of students: 1,028
  • # of teachers: 40
6
GreatSchools Rating

Villa Park High School

  • Education Level: High
  • # of students: 2,475
  • # of teachers: 89
8
GreatSchools Rating
 

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

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,876
Property Tax -$529
Property Insurance -$58
HOA -$300
Property Management Fees -$130
CASH FLOW
-$233

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.

$540,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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.

$1,876

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$15,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $2,668

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6603$2,7004$3,0955$3,295
$3,295
RENT COMPS ANALYSIS
  • 101 W. Riverdale Orange, CA 2
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $2.01
    •  
  • 2855 N Cottonwood Street Orange, CA 1
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1973
    property image
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.86
    •  
  • 422 N Beth Street Anaheim, CA 3
    • 3 beds 3 baths ∙ 1,266 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,266 Sqft ∙ Built 1971
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.13
    •  
  • 3010 N Cottonwood Street Orange, CA 4
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.97
    •  
  • 416 E Meadowbrook Avenue Orange, CA 5
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.10
    •  
PROPERTY LISTING DETAILS
Myrna Safieddine
First Diversified Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: MB21019387
Last Updated: 01/30/2021
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