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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $435.59
- 9 Days on Market
- MLS # : PW21027470
- Updated Date : 02/19/2021 at 15:20
CONSTRUCTION
- Beds : 3
- Floor Size : 1,894 sqft
- Baths : 1 full
Listing Agent
First Team Real Estate
Listing Agent's Description
Welcome to this meticulously kept and upgraded single-story home, with RV parking, on a huge lot, in the heart of Orange. This home has a very open and spacious floor plan from the moment you enter through the double door entry, leading you to the open concept kitchen and family room that has one of this home's 2 fireplaces. The other gas fireplace is in the living room/den area with double french door access and is large enough for a full-size pool table and lots of fun. (Could also be a fourth bedroom or a fabulous spot for a home office). The kitchen has all Frigidaire stainless steel appliances, canned lighting, and plenty of space for a full-size dining table and a cook's island if you desire. All bedrooms have an abundance of natural light streaming through the double pane windows and the master bedroom has a peaceful view of the backyard. You have plenty of room for your family and friends in this oversized back yard that has a built-in BBQ with a Pub height eating bar, covered patio, large grassy area, and a large side yard separately gated and suitable for a dog run. Within the last few years, this home has had a new roof, new water heater, canned lighting, new tub and shower enclosures and new family room carpet that compliments the homes real wood flooring which is in most other rooms. Close to shopping, Orange Circle, Hospitals, Chapman College and many freeways (55, 91, toll, 5, and 22). An absolute must see!
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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
Zip Code: 92867
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92867
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,480 |
| EXPENSES | Loan Payment | -$2,866 |
| Property Tax | -$790 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$171 | |
|
CASH FLOW
-$418
|
||
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.
$825,000
PROJECTED PRICE
$3,480
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 6.1% |
| 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
$224,375
LOAN DETAILS
$2,866
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $206,250 |
| Loan Amount | $618,750 |
3.42
YEARS SAVED
$23,592
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,480
LIST RENT -
$1.84
LIST RENT PER SQFT
-
$3,802
COMP ESTIMATED VALUE -
$2.01
COMP AVG. RENT PER SQFT
Comps Range
-
1243 E Chestnut Avenue Orange, CA 2
- 3 beds 1 baths ∙ 1,894 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,894 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $3,480
- $1.84
-
1735 N Lincoln Street Orange, CA 1
- 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1962
LEASED 03/15/20- Rent
- Rent Per SQFT
- $3,150
- $1.75
-
1735 N Greengrove Street Orange, CA 3
- 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 1962
LEASED 06/04/20- Rent
- Rent Per SQFT
- $3,695
- $2.11
-
533 E Glendale Avenue Orange, CA 4
- 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1963
LEASED 08/26/20- Rent
- Rent Per SQFT
- $3,700
- $1.98
-
831 E Hoover Avenue Orange, CA 5
- 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1961
LEASED 07/13/20- Rent
- Rent Per SQFT
- $4,000
- $2.19
PROPERTY LISTING DETAILS
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21027470
Last Updated: 02/19/2021
