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PROPERTY INFO
FACTS
- Single Family
- Built In 1969
- Price/Sqft : $329.18
- 3 Days on Market
- MLS # : OC21035418
- Updated Date : 02/19/2021 at 16:50
CONSTRUCTION
- Beds : 3
- Floor Size : 1,443 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Premier Realty
Listing Agent's Description
Beautifully renovated 3 Bedroom and Largest model in the community ready for you to move in.Brand new flooring, remodeled bathroom, modern kitchen with nice dining area. This home has newer Central A/C and air ducts have been redone.Wood or gas burning fireplace in the large living room that leads out to a very nice sized back yard.Master bathroom remodel was just finished.Back yard offers privacy with new vinyl fencing, large area for BBQ and entertaining.HOA is in the process of doing exterior work on the entire community, new stucco, paint, car ports along with many other items.This model is difficult to come by as it's not on the market very often. Fantastic price for this model!
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Tustin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Tustin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,580 |
| EXPENSES | Loan Payment | -$1,650 |
| Property Tax | -$499 | |
| Property Insurance | -$62 | |
| HOA | -$350 | |
| Property Management Fees | -$126 | |
|
CASH FLOW
-$108
|
||
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.
$475,000
PROJECTED PRICE
$2,580
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$131,625
LOAN DETAILS
$1,650
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
4.33
YEARS SAVED
$19,835
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,580
LIST RENT -
$1.79
LIST RENT PER SQFT
-
$3,041
COMP ESTIMATED VALUE -
$2.11
COMP AVG. RENT PER SQFT
Comps Range
-
1192 Mitchell Avenue Tustin, CA 1
- 3 beds 3 baths ∙ 1,443 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,443 Sqft ∙ Built 1969
![property image]()
- Rent
- Rent Per SQFT
- $2,580
- $1.79
-
14451 Deerfield Avenue Tustin, CA 2
- 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1971
![property image]()
LEASED 05/05/20- Rent
- Rent Per SQFT
- $2,900
- $2.05
-
1467 Sycamore Avenue Tustin, CA 3
- 4 beds 3 baths ∙ 1,357 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,357 Sqft ∙ Built 1964
![property image]()
LEASED 01/03/21- Rent
- Rent Per SQFT
- $2,990
- $2.20
-
14332 Hamlet Lane Tustin, CA 4
- 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1968
![property image]()
LEASED 12/26/20- Rent
- Rent Per SQFT
- $3,000
- $1.98
-
15672 S Myrtle Avenue Tustin, CA 5
- 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1962
![property image]()
LEASED 08/21/20- Rent
- Rent Per SQFT
- $3,450
- $2.20
PROPERTY LISTING DETAILS
Re/max Premier Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21035418
Last Updated: 02/19/2021
