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1037 Buccaneer Drive Placentia, CA 92870

3 Beds 1 Baths 1,092 sqft Built 1974

$448,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $410.26
  • 3 Days on Market
  • MLS # : OC21020032
  • Updated Date : 02/06/2021 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,092 sqft
  • Baths : 1 full
Listing Agent

Active Realty

Listing Agent's Description

Welcome home to this move in ready and completely remodeled home in a desirable and central location in Placentia! This 3 bedroom, two bathroom home has a spacious downstairs master bedroom and two rooms with a full bathroom on the second level. Recent upgrades include a brand new kitchen with quartz countertops, soft close cabinets and stainless steel appliances, new waterproof vinyl plank flooring, new windows, new paint, and crown molding. Past the kitchen you will find a huge patio that leads to the oversized 2 car garage with plenty of storage space and laundry hookups. The community pool and clubhouse are just steps away and there is also extra street parking surrounding the community. Easy access to the 91 and 57 freeways, and also conveniently located near schools and shopping centers. Stop by today, will not last!

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: 92870

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92870

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
Melrose Elementary School Primary Regular 628 27 4
Valadez Middle School Academy Middle Regular 694 29 4
Valencia High School High Magnet 2,740 100 9

Melrose Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 27
4
GreatSchools Rating

Valadez Middle School Academy

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 29
4
GreatSchools Rating

Valencia High School

  • Education Level: High
  • # of students: 2,740
  • # of teachers: 100
9
GreatSchools Rating
 

$403,200$492,800$448,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,556
Property Tax -$503
Property Insurance -$54
HOA -$302
Property Management Fees -$106
CASH FLOW
-$360

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.

$448,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,470

INVESTMENT

$124,470

Down Payment
$112,000
Rehab Estimate
$5,750
Closing Costs
$6,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,556

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,000
Loan Amount $336,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $2,177

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1603$2,6004$2,800
$2,800
RENT COMPS ANALYSIS
  • 1037 Buccaneer Drive Placentia, CA 2
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1974 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.98
    •  
  • 124 N Janet Place Fullerton, CA 1
    • 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1961
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $2.00
    •  
  • 1333 E Kenwood Avenue Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1954
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.98
    •  
  • 613 S Wayside Street Anaheim, CA 4
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.00
    •  
PROPERTY LISTING DETAILS
Leslie Gonzalez
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21020032
Last Updated: 02/06/2021
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