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1092 N Shaffer Street Orange, CA 92867

3 Beds 2 Baths 1,520 sqft Built 1960

$820,000

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $539.47
  • 7 Days on Market
  • MLS # : PW21006064
  • Updated Date : 01/13/2021 at 09:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

Re/max New Dimension

Listing Agent's Description

Welcome, Home! This 3 bedroom, 2 bathrooms, and a bonus room ranch-style home is perfect for entertaining & located in the Prestigious Presidential Tract less than a mile and a half from Old Town Orange and Chapman University. Its Magazine worthy kitchen is open to the dining area offering you another wonderful gathering place for friends and family. The dining area has an inviting fire glass fireplace surrounded with tile and reclaimed wood, a large bay window, hanging bell lights and skylight bring lots of light to this inviting area while giving you the ability to set the mood with dimmer switches. Original oak floors adorn the living room, hall, and master bedroom. The living room has the home’s other fireplace topped with a barn beam wood mantle. Corner windows offer lots of natural light as well as the LED recessed dimmable lighting. Custom-built black-out blinds offer privacy. Two bedrooms boast brand new carpet and mirrored closet doors. The Master bedroom has views of the stunning backyard oasis and walk-in closet. A bonus room opens to the pool as well and can be used for parties or a fourth bedroom. The guest bath and master bath are completely tiled with custom shower and bath glass doors. Master bath has refinished mid-century modern vanity with raised sink and waterfall faucet and faux marble tile extending into chair rail. Enjoy the backyard retreat with salt-water, pebble-tech pool, and custom spa. https://my.matterport.com/show/?m=QAcNfKeMy38&brand=0

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Zip Code: 92867

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k813k

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443604

* 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
California Elementary School Primary Regular 654 23 4
Yorba Middle School Middle Regular 582 26 5
Orange High School High Regular 1,927 79 4

California Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 23
4
GreatSchools Rating

Yorba Middle School

  • Education Level: Middle
  • # of students: 582
  • # of teachers: 26
5
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$738,000$902,000$820,000

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$2,848
Property Tax -$803
Property Insurance -$63
Property Management Fees -$161
CASH FLOW
-$585

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.

$820,000

PROJECTED PRICE

$3,290

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.1%
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-$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$223,050

INVESTMENT

$223,050

Down Payment
$205,000
Rehab Estimate
$5,750
Closing Costs
$12,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,848

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $205,000
Loan Amount $615,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$13,528

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,290

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $3,352

    COMP ESTIMATED VALUE
  • $2.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,2003$3,2904$3,4955$3,500
$3,500
RENT COMPS ANALYSIS
  • 1092 N Shaffer Street Orange, CA 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $2.16
    •  
  • 809 E Collins Avenue Orange, CA 1
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1950
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.04
    •  
  • 801 N Waverly Street Orange, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 870 N Waverly Street Orange, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.33
    •  
  • 924 E Rose Avenue Orange, CA 5
    • 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1952
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.32
    •  
PROPERTY LISTING DETAILS
Edgar Adame
Re/max New Dimension
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21006064
Last Updated: 01/13/2021
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