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1103 W Walnut Avenue Orange, CA 92868

3 Beds 2 Baths 1,200 sqft Built 1960

$739,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $615.83
  • 6 Days on Market
  • MLS # : DW21037548
  • Updated Date : 02/26/2021 at 05:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Keller Williams - Downtown La

Listing Agent's Description

Welcome to 1103 W Walnut Ave!! This gorgeous newly remodeled property is ready for new ownership. Bright, spacious, and upgraded with delicate touches all throughout. Home presents 3 bedrooms, 2 bath. Open floor plan, recessed lighting, quartz counter tops, brand new stainless steel appliances, new vinyl and tile flooring, an oversized jacuzzi tub, covered patio, and landscaping! Home also features new electrical panel, upgraded a/c unit and recently insulated walls and roof! This property is absolutely an entertainers delight!! The fireplace makes for a cozy evening, and landscaped yard, great for summer nights!! Turf is pet friendly and comes with a 15yr warranty! Location of this home is PRIME as it is located in the outskirts of Old Towne Orange! Walking distance to Angels stadium, Chapman University, restaurants, and plenty of entertainment! Easy access to major freeways 22, 5, and the 57. Come take a tour of this wonderful property and all it has to offer!

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: 92868

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $194k742k

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

Zip Code: 92868

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15763345

* 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
Portola Middle School Middle Regular 735 36 3
Orange High School High Regular 1,927 79 4
Portola Middle School Middle Unknown NA

Portola Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 36
3
GreatSchools Rating

Orange High School

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

Portola Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$665,100$812,900$739,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,567
Property Tax -$723
Property Insurance -$55
Property Management Fees -$135
CASH FLOW
-$730

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$739,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
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$201,585

INVESTMENT

$201,585

Down Payment
$184,750
Rehab Estimate
$5,750
Closing Costs
$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,567

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,750
Loan Amount $554,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,551

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $2.29

    LIST RENT PER SQFT
  • $2,745

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,7953$2,8504$2,9005$3,500
$3,500
RENT COMPS ANALYSIS
  • 1103 W Walnut Avenue Orange, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.29
    •  
  • 245 N Main Street Orange, CA 2
    • 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1946
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.47
    •  
  • 376 N Batavia Street Orange, CA 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.04
    •  
  • 410 N Clark Street Orange, CA 4
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.32
    •  
  • 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
Kevin Messiha
Keller Williams - Downtown La
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21037548
Last Updated: 02/26/2021
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