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11290 Providencia Street Cypress, CA 90630

4 Beds 2 Baths 1,792 sqft Built 1972

$850,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $474.33
  • 6 Days on Market
  • MLS # : PW21022325
  • Updated Date : 02/06/2021 at 09:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,792 sqft
  • Baths : 2 full
Listing Agent

Remax Tiffany Real Estate

Listing Agent's Description

RARELY ON THE MARKET "COLLEGE PARK CYPRESS" SINGLE STORY AMHERST MODEL WITH 1792 SQ FT OF LIVING SPACE. QUALITY S & S CONSTRUCTION. 9 HOUSES UP FROM "MAPLE GROVE PARK NORTH". THIS HOME FEATURES 4 SPACIOUS BEDROOMS. ONE OF THE ORIGINAL BEDROOMS HAS HAD A DIRECT GARAGE ACCESS DOOR ADDED FROM THE 2 CAR ATTACHED GARAGE AND IS CURRENTLY BEING USED AS AN OFFICE WITH BUILT-IN OAK SHELVING WHERE THE CLOSET WAS AND HARDWOOD FLOORING. THE MASTER BEDROOM HAS A CEDAR LINED WALK-IN CLOSET AND A SLIDER TO THE LOW MAINTENANCE BACKYARD. THE MASTER BATH HAS A STALL SHOWER. THE GUEST BATH HAS A SHOWER OVER TUB. THIS HOME HAS CENTRAL HEATING AND AIR CONDITIONING, DUAL PANE WINDOWS (WITH MARGINAL GRIDS) & SLIDERS, NEW CARPET, FIREPLACE IN LIVING ROOM, UPDATED KITCHEN WITH PULL OUT SHELVING AND COUNTER SEATING. OAK CABINETRY & BUILT-INS THRU OUT. LARGE WINDOWS MAKE FOR A LIGHT AND BRIGHT KITCHEN & LARGE DINETTE/FAMILYROOM AREA. THERE IS AN INSIDE LAUNDRY AREA WITH AN EXTERIOR ACCESS DOOR TO THE SIDE YARD. THE CEILINGS HAVE BEEN SCRAPPED AND THERE IS SOME W/RECESSED LIGHTING. THE FORMAL DINING ROOM, LIVING ROOM & MASTER BEDROOM HAVE PLANTATION SHUTTERS. GREAT INSIDE TRACT LOCATION. CLOSE TO PARKS, SHOPPING, DINING AND SCHOOLS.

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

Neighborhood: Cypress

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Neighborhood: Cypress

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18413345

* 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
Lexington Junior High School Middle Regular 1,275 44 8
Cypress High School High Regular 2,737 92 9
Lexington Junior High School Middle Unknown NA

Lexington Junior High School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 44
8
GreatSchools Rating

Cypress High School

  • Education Level: High
  • # of students: 2,737
  • # of teachers: 92
9
GreatSchools Rating

Lexington Junior High School

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

$765,000$935,000$850,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$2,952
Property Tax -$858
Property Insurance -$70
Property Management Fees -$150
CASH FLOW
-$971

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.

$850,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
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$2.5M

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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $3,360

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0603$3,2004$3,3505$3,800
$3,800
RENT COMPS ANALYSIS
  • 11290 Providencia Street Cypress, CA 2
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $1.71
    •  
  • 11375 Harkers Court Cypress, CA 1
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1974
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.85
    •  
  • 6507 Mcnutt Way Cypress, CA 3
    • 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 1973
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.78
    •  
  • 6391 Cantiles Avenue Cypress, CA 4
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1972
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.87
    •  
  • 6854 Tiki Drive Cypress, CA 5
    • 5 beds 2 baths ∙ 1,900 Sqft ∙ Built 1967 5 beds 2 baths ∙ 1,900 Sqft ∙ Built 1967
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.00
    •  
PROPERTY LISTING DETAILS
Alex Mascarenas
Remax Tiffany Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21022325
Last Updated: 02/06/2021
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