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PROPERTY INFO
FACTS
- Single Family
- Built In 1975
- Price/Sqft : $402.48
- 2 Days on Market
- MLS # : PW21004589
- Updated Date : 01/09/2021 at 13:29
CONSTRUCTION
- Beds : 4
- Floor Size : 2,174 sqft
- Baths : 3 full
Listing Agent
Era North Orange County
Listing Agent's Description
Beautiful TURNKEY home located in the prestigious community of North Hills in Brea. This home features DOWNSTAIRS bedroom and bath, Brazilian Cherry Flooring, high grade carpeting and newer Lennox Air Condition Unit with updated ducting. Open concept living room with vaulted ceiling, cozy fireplace and is open to the dining room which makes it great for entertaining. Beautiful kitchen includes plenty of cabinetry for storage, double oven, gas cooktop, recessed lighting and is open to the family room with a beautiful view of the backyard. Master Suite features vaulted ceiling, beautiful dual sink granite vanity, upgraded walk-in shower with rain shower head and hand shower, LARGE walk out balcony and HUGE storage area which has garage access. Two additional spacious bedrooms upstairs with beautifully updated full bath with dual sink vanity. This home also features a 3 Car garage with built in cabinets, and pull down ladder for HUGE storage area which is attached to master bedroom. This backyard is perfect for the next family BBQ! Take advantage of the Low HOA that includes Tennis Club and pool, Award-winning Brea Olinda Unified School District, Close to the Brea Mall, Downtown Brea, Restaurants and shopping. Come view this beautiful house and make it yours today!
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MARKET HIGHLIGHTS
- 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)
- 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.
PRICE & RENT TRENDS
Zip Code: 92821
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92821
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,380 |
| EXPENSES | Loan Payment | -$3,039 |
| Property Tax | -$843 | |
| Property Insurance | -$80 | |
| HOA | -$8 | |
| Property Management Fees | -$166 | |
|
CASH FLOW
-$755
|
||
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.
$875,000
PROJECTED PRICE
$3,380
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 4.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| 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
$237,625
LOAN DETAILS
$3,039
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $218,750 |
| Loan Amount | $656,250 |
1.58
YEARS SAVED
$8,587
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,380
LIST RENT -
$1.55
LIST RENT PER SQFT
-
$3,343
COMP ESTIMATED VALUE -
$1.54
COMP AVG. RENT PER SQFT
Comps Range
-
1010 Woodcrest Avenue Brea, CA 2
- 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1975
- Rent
- Rent Per SQFT
- $3,380
- $1.55
-
1182 Steele Drive Brea, CA 1
- 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 1965 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 1965
LEASED 07/30/20- Rent
- Rent Per SQFT
- $3,299
- $1.51
-
1200 Northwood Avenue Brea, CA 3
- 3 beds 3 baths ∙ 2,330 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,330 Sqft ∙ Built 1966
LEASED 07/12/19- Rent
- Rent Per SQFT
- $3,500
- $1.50
-
1432 Strattford Street Brea, CA 4
- 4 beds 3 baths ∙ 2,154 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,154 Sqft ∙ Built 1989
LEASED 05/01/20- Rent
- Rent Per SQFT
- $3,500
- $1.62
-
1353 Robert Court Brea, CA 5
- 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1989
LEASED 10/08/20- Rent
- Rent Per SQFT
- $3,600
- $1.52
PROPERTY LISTING DETAILS
Era North Orange County
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21004589
Last Updated: 01/09/2021
