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1233 E Fairway Drive Orange, CA 92866

3 Beds 1 Baths 1,471 sqft Built 1962

$625,000

List Price

$3,190

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $424.88
  • 6 Days on Market
  • MLS # : PW21020013
  • Updated Date : 02/20/2021 at 15:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,471 sqft
  • Baths : 1 full
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

JUST LISTED FIXER, mid-century, single story home is ready for a makeover! This 3 bedroom/2 bathroom house has combo living/dining room with fireplace & a wall of windows/sliding glass door that opens to the backyard. Backyard overlooks Santiago bike path so no neighbors directly behind you. Lots of closet space & indoor laundry. One car garage & one carport space with spacious driveway allow for ample parking. Just minutes away are Old Towne Orange, Chapman University, Disneyland, Knott's Berry Farm, Angel Stadium, Honda Center, the 22 & 5 freeways. Don't miss this blank canvas just waiting for your vision!

SEE MORE

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

Zip Code: 92866

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $240k742k

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

Zip Code: 92866

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $16793345

* 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
Yorba Middle School Middle Regular 582 26 5
Orange High School High Regular 1,927 79 4
Orange High School High Unknown NA

Yorba Middle School

  • Education Level: Middle
  • # of students: 582
  • # of teachers: 26
5
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating

Orange High School

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

$562,500$687,500$625,000

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$2,171
Property Tax -$605
Property Insurance -$62
Property Management Fees -$156
CASH FLOW
$196

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.

$625,000

PROJECTED PRICE

$3,190

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$65,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,190

    LIST RENT
  • $2.17

    LIST RENT PER SQFT
  • $3,218

    COMP ESTIMATED VALUE
  • $2.19

    COMP AVG. RENT PER SQFT
Comps Range
$3,190
1$3,1902$3,2003$3,2004$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 1233 E Fairway Drive Orange, CA 1
    • 3 beds 1 baths ∙ 1,471 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,471 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $2.17
    •  
  • 1405 E Avalon Avenue Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1967
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.27
    •  
  • 328 S California Street Orange, CA 3
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1961
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
  • 1940 E Stearns Avenue Orange, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1968
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 820 E Palmyra Avenue Orange, CA 5
    • 3 beds 1 baths ∙ 1,421 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,421 Sqft ∙ Built 1963
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.32
    •  
PROPERTY LISTING DETAILS
Lisa May
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21020013
Last Updated: 02/20/2021
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