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1041 W Rainbow Falls Way Orange, CA 92865

3 Beds 3 Baths 1,669 sqft Built 1983

$670,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $401.44
  • 3 Days on Market
  • MLS # : SW21029438
  • Updated Date : 02/13/2021 at 15:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,669 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Southwest

Listing Agent's Description

Beautiful move in condition 3 bedroom house located in a quiet cul-de-sac of the River Trail Community, this house offers new windows, new flooring throughout, new paint inside and out, except the bedrooms. Roofing was reworked last year. recessed lighting,vaulted ceilings, central AC, forced air heat, Brick fireplace in family room, ceiling fans in every room, large 2 car attached garage with storage and a 2 car driveway. Large side and front yard with gorgeous planters. Backyard has a wood patio cover and wonderfully landscaped. Enjoy Living in this Well-Kept Community with Low HOA Fees that Offers a Community Pool, Spa, Lush Green Belt Areas and Playground, Convenient to Freeways, Shopping and Restaurants. Great views nursery and river. Bike trail.

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: 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
 

$603,000$737,000$670,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,327
Property Tax -$635
Property Insurance -$66
HOA -$135
Property Management Fees -$157
CASH FLOW
-$121

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.

$670,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.6%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,500
Loan Amount $502,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$35,031

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $3,405

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,2504$3,3955$3,400
$3,400
RENT COMPS ANALYSIS
  • 1041 W Rainbow Falls Way Orange, CA 2
    • 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.92
    •  
  • 2488 N Millstream Lane Orange, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1982
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.14
    •  
  • 350 E Sand Pebble Way Orange, CA 3
    • 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1975
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.01
    •  
  • 101 S Connie Circle Anaheim, CA 4
    • 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1972
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.89
    •  
  • 2489 N Cottonwood Street Orange, CA 5
    • 4 beds 2 baths ∙ 1,605 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,605 Sqft ∙ Built 1963
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.12
    •  
PROPERTY LISTING DETAILS
Clara Harris
Realty One Group Southwest
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21029438
Last Updated: 02/13/2021
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