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1010 Woodcrest Avenue Brea, CA 92821

4 Beds 3 Baths 2,174 sqft Built 1975

$875,000

List Price

$3,380

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
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!

SEE MORE

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

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92821

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
Mariposa Elementary School Primary Regular 559 20 9
Mariposa Elementary School Middle Regular 559 20 9
Brea-olinda High School High Regular 1,895 68 9

Mariposa Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 20
9
GreatSchools Rating

Mariposa Elementary School

  • Education Level: Middle
  • # of students: 559
  • # of teachers: 20
9
GreatSchools Rating

Brea-olinda High School

  • Education Level: High
  • # of students: 1,895
  • # of teachers: 68
9
GreatSchools Rating
 

$787,500$962,500$875,000

PURCHASE PRICE

$3,042$3,718$3,380

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$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$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

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
$3,299
1$3,2992$3,3803$3,5004$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 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
Darryl Jones
Era North Orange County
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21004589
Last Updated: 01/09/2021
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