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11055 Slater Avenue Fountain Valley, CA 92708

3 Beds 4 Baths 1,660 sqft Built 1969

$649,900

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $391.51
  • 7 Days on Market
  • MLS # : OC21147309
  • Updated Date : 07/11/2021 at 09:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,660 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group West

Listing Agent's Description

This beautiful bright & sunny Paradise Manor Townhome includes a separate studio apartment above the garage. You can rent out both, or live in one and rent the other. The main home is 2 Bedrooms, both master suites, and 2.5 baths in approximately 1,200 sqft, and the studio apartment is approximately 460sqft. New upgrades include vinyl plank flooring downstairs and paint throughout. Recent upgrades include dual pane windows & sliding doors, vinyl plank flooring upstairs, and a remodeled kitchen w/newer appliances, cabinets, and granite countertops. Your rear sliding door opens to the patio with direct 2-Car Garage Access. The garage is oversized and includes washer and dryer hookups and high ceilings with hanging storage. The Studio above the garage has a separate entrance through a patio gate on the side and includes a full bathroom and kitchen. HOA has 2 swimming pools, clubhouse, lush green belts & playgrounds, and low HOA dues. Close to freeways, Costco, shopping, Mile Square Park. Excellent Investment opportunity.

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MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: Fountain Valley

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k816k

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

Neighborhood: Fountain Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2180020002200240026002800300032003400Rent in $17723435

* 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
Fitz Intermediate School Middle Regular 675 24 5
Los Amigos High School High Regular 1,787 74 5

Fitz Intermediate School

  • Education Level: Middle
  • # of students: 675
  • # of teachers: 24
5
GreatSchools Rating

Los Amigos High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 74
5
GreatSchools Rating
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,257
Property Tax -$647
Property Insurance -$67
HOA -$230
Property Management Fees -$129
CASH FLOW
-$700

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.

$649,900

PROJECTED PRICE

$2,630

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.58

    LIST RENT PER SQFT
  • $2,897

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,630
1$2,6302$2,7503$2,9954$3,1005$3,600
$3,600
RENT COMPS ANALYSIS
  • 11055 Slater Avenue Fountain Valley, CA 1
    • 3 beds 4 baths ∙ 1,660 Sqft ∙ Built 1969 3 beds 4 baths ∙ 1,660 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.58
    •  
  • 10358 Powderhorn River Court Fountain Valley, CA 2
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1971
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.66
    •  
  • 18153 Rustic Court Fountain Valley, CA 3
    • 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 1983
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.74
    •  
  • 18231 Crater Lake Court Fountain Valley, CA 4
    • 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 1973
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.70
    •  
  • 10198 El Monterey Avenue Fountain Valley, CA 5
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1968
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.88
    •  
PROPERTY LISTING DETAILS
Christopher Phipps
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21147309
Last Updated: 07/11/2021
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