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1043 Coral Circle Brea, CA 92821

3 Beds 3 Baths 1,645 sqft Built 2013

$750,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $455.93
  • 2 Days on Market
  • MLS # : PW21030738
  • Updated Date : 02/13/2021 at 20:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,645 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California

Listing Agent's Description

A beautiful 3 bedroom, 2.5 bathroom Summerwind Community home built in 2013 by Taylor Morrison. Enjoy the benefits of a modern floor plan, energy efficiencies of a newer home and the benefits of well established schools within the excellent Brea-Olinda School District. The master suite includes a glass shower, soaking tub, double sinks, separate toilet room and walk-in closet. All 3 bedrooms have ceiling fans. There is an upstairs laundry room for your convenience. Downstairs has an open floorplan with a center island opening to the dining and living room areas. The cabinets are bright white with stainless steel appliances and quartz countertops. Wood flooring downstairs, nice side yard and attached garage complete this 1,645 sq.ft. home. The HOA includes a walking path, exercise station, playground, bocce ball court and picnic area. Near to some of Brea’s best shopping and dining. This is an excellent place to call home.

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
Brea Junior High School Middle Regular 891 32 8
Brea-olinda High School High Regular 1,895 68 9

Brea Junior High School

  • Education Level: Middle
  • # of students: 891
  • # of teachers: 32
8
GreatSchools Rating

Brea-olinda High School

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

$675,000$825,000$750,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$2,605
Property Tax -$753
Property Insurance -$67
HOA -$160
Property Management Fees -$145
CASH FLOW
-$769

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.

$750,000

PROJECTED PRICE

$2,960

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

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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,778

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $1.8

    LIST RENT PER SQFT
  • $2,953

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,960
1$2,9602$3,0003$3,2004$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 1043 Coral Circle Brea, CA 1
    • 3 beds 3 baths ∙ 1,645 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,645 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $1.80
    •  
  • 949 Baxter Brea, CA 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2000
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.82
    •  
  • 828 Hurst Place Brea, CA 3
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2004
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.71
    •  
  • 825 Dans Place Brea, CA 4
    • 3 beds 3 baths ∙ 1,814 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,814 Sqft ∙ Built 2004
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.76
    •  
  • 116 Honeysuckle Lane Brea, CA 5
    • 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1997
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.89
    •  
PROPERTY LISTING DETAILS
Deborah Gwon
Exp Realty Of California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21030738
Last Updated: 02/13/2021
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