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PROPERTY INFO
FACTS
- Single Family
- Built In 1959
- Price/Sqft : $547.50
- 5 Days on Market
- MLS # : PW20261813
- Updated Date : 12/24/2020 at 17:02
CONSTRUCTION
- Beds : 3
- Floor Size : 1,242 sqft
- Baths : 2 full
Listing Agent
Century 21 Award
Listing Agent's Description
Pride of ownership in this Riverview West home. Recently updated with fresh paint inside and out! Upon entry, spacious living room and dining area offer hardwood floors, crown molding, and vaulted ceilings. Updated gourmet kitchen offers custom cabinetry, recess lighting, granite counter tops and stainless appliances. Versatile breakfast bar and dining area off the kitchen, offer plenty of eating area. Master bedroom offers hardwood flooring and crown molding along w/ private bathroom. Updated hall bathroom offers newer vanity and mosaic backsplash. Spacious backyard offers covered patio, storage shed and block Wall throughout propety line. With the recently installed solar panels, much of the roof has been updated. Other great features include dual pane windows, updated electrical panel, central AC and huge extended driveway which allows for 6-8 cars or a 32ft RV! Ideally located near Mile Square Park and close to schools and shopping center. Don’t wait on this one! - virtual tour this Saturday 1045am - Go To: https://us02web.zoom.us/j/4522854928
SEE MORE
MARKET HIGHLIGHTS
- 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.
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: West Side
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Side
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,470 |
| EXPENSES | Loan Payment | -$2,509 |
| Property Tax | -$692 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$121 | |
|
CASH FLOW
-$909
|
||
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.
$679,999
PROJECTED PRICE
$2,470
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 7.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$185,950
LOAN DETAILS
$2,509
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $170,000 |
| Loan Amount | $509,999 |
0.42
YEARS SAVED
$1,191
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,470
LIST RENT -
$1.99
LIST RENT PER SQFT
-
$2,496
COMP ESTIMATED VALUE -
$2.01
COMP AVG. RENT PER SQFT
Comps Range
-
1129 S Corta Drive Santa Ana, CA 1
- 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1959
![property image]()
- Rent
- Rent Per SQFT
- $2,470
- $1.99
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15998 Mount Mitchell Circle Fountain Valley, CA 2
- 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1967
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LEASED 06/13/20- Rent
- Rent Per SQFT
- $2,850
- $2.12
-
11671 Rosemary Avenue Fountain Valley, CA 3
- 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1964
![property image]()
LEASED 09/20/19- Rent
- Rent Per SQFT
- $2,900
- $1.96
-
830 S Austin Street Santa Ana, CA 4
- 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1956
![property image]()
LEASED 12/01/19- Rent
- Rent Per SQFT
- $3,000
- $2.01
-
5428 W Wisteria Place Santa Ana, CA 5
- 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1963
![property image]()
LEASED 12/03/19- Rent
- Rent Per SQFT
- $3,100
- $1.95
PROPERTY LISTING DETAILS
Century 21 Award
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20261813
Last Updated: 12/24/2020
