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PROPERTY INFO
FACTS
- Single Family
- Built In 1976
- Price/Sqft : $390.28
- 6 Days on Market
- MLS # : OC21018120
- Updated Date : 02/04/2021 at 11:49
CONSTRUCTION
- Beds : 3
- Floor Size : 1,276 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Welcome Home to this wonderfully updated two story end unit in the community of Sunny Hills Village. This spacious floor plan offers 3 bedrooms and 2.5 bathrooms. Upon entering the home you are greeted by warm wood flooring and calming neutral walls creating a cozy place to call your own. The living room features an abundance of natural light and flows easily into the kitchen, dining area and powder room for guests. Thoughtfully upgraded, the kitchen features light oak cabinetry, gorgeous black granite countertops and garden window looking into the private patio. The dining area opens to the kitchen and patio for easy entertaining and family meals. Up the newly carpeted stairs you will find the Master Suite along with two spacious secondary bedrooms and guest bathroom. The Master Bedroom creates a tranquil space including an ensuite Master Bathroom complete with double vanity and walk in closet. The secondary bedrooms feature the new carpet, ceiling fans and plantation shutters. Outside, the private patio has been improved with a full vinyl patio cover featuring lighting and ceiling fan along with a peaceful water fountain and beautiful trees lining the patio. The large two car garage has direct access through your private patio and includes plenty of storage space and your laundry area. Other features include canned lighting, plantation shutters throughout, water softener, reverse osmosis system and ideally located near the community pool, sports court and playground.
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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
Zip Code: 90631
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 90631
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,530 |
| EXPENSES | Loan Payment | -$1,730 |
| Property Tax | -$513 | |
| Property Insurance | -$58 | |
| HOA | -$275 | |
| Property Management Fees | -$124 | |
|
CASH FLOW
-$170
|
||
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.
$498,000
PROJECTED PRICE
$2,530
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 6.6% |
| 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
$137,720
LOAN DETAILS
$1,730
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $124,500 |
| Loan Amount | $373,500 |
3.67
YEARS SAVED
$17,368
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,530
LIST RENT -
$1.98
LIST RENT PER SQFT
-
$2,520
COMP ESTIMATED VALUE -
$1.98
COMP AVG. RENT PER SQFT
Comps Range
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1240 Devonshire Lane La Habra, CA 2
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- $2,530
- $1.98
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891 Hartford Lane La Habra, CA 1
- 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1975
LEASED 02/21/20- Rent
- Rent Per SQFT
- $2,500
- $1.99
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568 Elkwood Court Brea, CA 3
- 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 1973
LEASED 02/16/20- Rent
- Rent Per SQFT
- $2,600
- $2.00
-
221 W Parkwood Avenue La Habra, CA 4
- 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1962
LEASED 11/04/19- Rent
- Rent Per SQFT
- $2,750
- $2.00
-
401 Thunderbird Court Fullerton, CA 5
- 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1979
LEASED 06/18/20- Rent
- Rent Per SQFT
- $3,000
- $1.91
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21018120
Last Updated: 02/04/2021
