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11344 Tortuga Street Cypress, CA 90630

4 Beds 2 Baths 2,340 sqft Built 1975

$989,900

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $423.03
  • 5 Days on Market
  • MLS # : PW21054603
  • Updated Date : 03/20/2021 at 05:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,340 sqft
  • Baths : 2 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

Nestled in the highly sought after College Park Cypress, this S&S built Pomona model home is both majestic and superior in design. Double door entry welcomes you to an elegant foyer that opens to the light filled living room and dining room. Perfect for a growing family, this home boasts of 4 bedrooms and 3 bathrooms. The main level bedroom is ideal for guests or home office. Vaulted ceilings, high ceiling windows and the bay window bring in lots of natural light, adding richness to the home. A fantastic open floor plan allows an easy transition from the living room to the spacious dining room and kitchen. The kitchen features a breakfast counter, stainless steel appliances and travertine tile floors. Relax and unwind in the family room, overlooking the backyard. Create an oasis in the pergola style patio with a built in bar. Upstairs you will find 3 bedrooms inlcuding a luxurious Master bedroom. The Master Bedroom boasts of a large walk-in closet, an en-suite bathroom with a Jacuzzi spa and a private balcony. This home features dual pane windows, plantation shutters, central air and heat, recessed lights, and crown molding all throughout. Not to mention the indoor laundry, and attached 2 car garage for your convenience. Walking distance to the neighborhood Maple Grove North Park; close to schools, restaurants with easy access to the freeways. Truly a great home in a wonderful community, with the best schools in Cypress. Welcome to 11344 Tortuga and Welcome Home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$890,910$1,088,890$989,900

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$3,438
Property Tax -$1,000
Property Insurance -$84
Property Management Fees -$164
CASH FLOW
-$1,345

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.

$989,900

PROJECTED PRICE

$3,340

PROJECTED RENT

0.34%

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$268,074

INVESTMENT

$268,074

Down Payment
$247,475
Rehab Estimate
$5,750
Closing Costs
$14,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,438

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $247,475
Loan Amount $742,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,340

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $3,428

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1503$3,3404$3,5755$3,600
$3,600
RENT COMPS ANALYSIS
  • 11344 Tortuga Street Cypress, CA 3
    • 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $3,340
    • $1.43
    •  
  • 6654 Brewster Court Cypress, CA 1
    • 3 beds 4 baths ∙ 2,301 Sqft ∙ Built 1974 3 beds 4 baths ∙ 2,301 Sqft ∙ Built 1974
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.30
    •  
  • 11601 Luzon Street Cypress, CA 2
    • 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 1970 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 1970
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.40
    •  
  • 6188 Palau Street Cypress, CA 4
    • 5 beds 3 baths ∙ 2,297 Sqft ∙ Built 1971 5 beds 3 baths ∙ 2,297 Sqft ∙ Built 1971
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,575
    • $1.56
    •  
  • 6598 Reefton Avenue Cypress, CA 5
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1972
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.60
    •  
PROPERTY LISTING DETAILS
Candice Uy
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21054603
Last Updated: 03/20/2021
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