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PROPERTY INFO
FACTS
- Single Family
- Built In 1971
- Price/Sqft : $469.76
- 3 Days on Market
- MLS # : OC21040499
- Updated Date : 02/27/2021 at 10:54
CONSTRUCTION
- Beds : 4
- Floor Size : 1,703 sqft
- Baths : 2 full
Listing Agent
Grand Avenue Realty & Lending
Listing Agent's Description
Welcome to the neighborhood! Located on a cul-de-sac, tree-lined street in a great family neighborhood; you can plan on enjoying those summer nights for many years to come. Nearby access to freeways, world class dining and entertainment at South Coast Plaza, Little Saigon and Mile Square Park & Golf Course are around the corner. You will also appreciate being part of the award winning Fountain Valley School District. Upon entering this 4 bedroom, 2 bathroom 1700 sf house you will notice the formal living room and fireplace. The kitchen was remodeled a few years ago and boasts newer cabinets, granite countertops and a convenient breakfast nook. There are 3 bedrooms and a full bathroom before you arrive at the 4th which is the Master Bedroom with it's own en-suite private full bathroom and walk in closet. Both the Kitchen and Master Bedroom have direct access to the backyard which is perfect for your indoor-outdoor living space. You can enjoy family outings in your spacious 7,300 SF with plenty of space to stretch and gather. You can have it all! Make this your home before it's gone!
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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: Fountain Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fountain Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,140 |
| EXPENSES | Loan Payment | -$2,779 |
| Property Tax | -$797 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$154 | |
|
CASH FLOW
-$658
|
||
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.
$799,999
PROJECTED PRICE
$3,140
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,750
LOAN DETAILS
$2,779
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $200,000 |
| Loan Amount | $599,999 |
1.67
YEARS SAVED
$9,078
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,140
LIST RENT -
$1.84
LIST RENT PER SQFT
-
$3,231
COMP ESTIMATED VALUE -
$1.9
COMP AVG. RENT PER SQFT
Comps Range
-
11666 Corinth Circle Fountain Valley, CA 3
- 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 1971
- Rent
- Rent Per SQFT
- $3,140
- $1.84
-
11671 Rosemary Avenue Fountain Valley, CA 1
- 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1964
LEASED 09/20/19- Rent
- Rent Per SQFT
- $2,900
- $1.96
-
11300 Ivory Fountain Valley, CA 2
- 4 beds 1 baths ∙ 1,570 Sqft ∙ Built 1970 4 beds 1 baths ∙ 1,570 Sqft ∙ Built 1970
LEASED 05/15/20- Rent
- Rent Per SQFT
- $2,950
- $1.88
-
16562 Mount Neota Street Fountain Valley, CA 4
- 5 beds 3 baths ∙ 1,844 Sqft ∙ Built 1972 5 beds 3 baths ∙ 1,844 Sqft ∙ Built 1972
LEASED 11/01/19- Rent
- Rent Per SQFT
- $3,500
- $1.90
-
16179 Livingstone Street Fountain Valley, CA 5
- 4 beds 4 baths ∙ 1,946 Sqft ∙ Built 1972 4 beds 4 baths ∙ 1,946 Sqft ∙ Built 1972
LEASED 09/30/19- Rent
- Rent Per SQFT
- $3,595
- $1.85
PROPERTY LISTING DETAILS
Grand Avenue Realty & Lending
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21040499
Last Updated: 02/27/2021
