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12745 Panorama Place North Tustin, CA 92705

3 Beds 3 Baths 2,147 sqft Built 1975

INVESTimate

$959,000

List Price

$3,580

$3,330 - $3,830

Rent Est.

$1,030,637  ( +7.47%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $446.67
  • 8 Days on Market
  • MLS # : OC20161611
  • Updated Date : 08/19/2020 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,147 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Stunning North Tustin hilltop home with 180-degree panoramic canyon view. Located on a secluded street with just 4 custom homes, this home feels like a spacious mountain retreat. The open floor plan is finely appointed with Brazilian Hickory floors, crown moulding and recessed lighting. The family room has a stone fireplace with hearth. The kitchen enjoys granite counters, mosaic full tile backsplash, double-oven and breakfast bar. Newly remodeled laundry room includes custom hardwood cabinetry and new barn door. The half bathroom was recently remodeled too. The downstairs full bathroom was renovated with wood tile flooring, natural stone shower tile, rustic wood vanity with Italian Carrara marble and oil rubbed bronze fixtures. One of the bedrooms includes walk-in closet, new Berber carpeting, triple-paned sliding glass door with access to pergola-covered deck. The other bedroom has Saltillo tile flooring and access to the covered deck. The master bathroom has a jetted soaking tub and separate walk-in shower. The master bedroom has access to a private balcony and an inviting series of decks surrounding the rear of the home. This spacious home also has a great room, dining room and living room. Nestled in North Tustin in the Panorama Heights area, the views from your hilltop hideaway are breathtaking. Nearby Irvine and Peters Canyon Regional Parks, easy access to the 22/55 freeways and benefit from Tustin Unified’s award-winning schools: Arroyo, Hewes, and Foothill.

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MARKET HIGHLIGHTS

  • 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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Panorama Heights

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $272k1171k

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

Neighborhood: Panorama Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600380040004200Rent in $19814315

* 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
Arroyo Elementary School Primary Regular 622 20 9
Hewes Middle School Middle Regular 958 32 8
Foothill High School High Regular 2,526 94 9

Arroyo Elementary School

  • Education Level: Primary
  • # of students: 622
  • # of teachers: 20
9
GreatSchools Rating

Hewes Middle School

  • Education Level: Middle
  • # of students: 958
  • # of teachers: 32
8
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 94
9
GreatSchools Rating
 

$863,100$1,054,900$959,000

PURCHASE PRICE

$3,222$3,938$3,580

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,580
EXPENSES Loan Payment -$3,538
Property Tax -$892
Property Insurance -$79
Property Management Fees -$175
CASH FLOW
-$1,104

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$959,000

PROJECTED PRICE

$3,580

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 7.47%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$259,885

INVESTMENT

$259,885

Down Payment
$239,750
Rehab Estimate
$5,750
Closing Costs
$14,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,538

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $239,750
Loan Amount $719,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,989

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,580

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $3,607

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,5803$3,6004$3,8005$3,990
$3,990
RENT COMPS ANALYSIS
  • 12745 Panorama Place North Tustin, 2
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $3,580
    • $1.67
    •  
  • 192 N Roth Lane Orange, 1
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1978
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.60
    •  
  • 13252 Sussex Place North Tustin, 3
    • 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 1957 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 1957
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.69
    •  
  • 1011 Hyde Park Drive North Tustin, 4
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1967
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.65
    •  
  • 1131 Glenaire Drive North Tustin, 5
    • 4 beds 1 baths ∙ 2,240 Sqft ∙ Built 1968 4 beds 1 baths ∙ 2,240 Sqft ∙ Built 1968
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,990
    • $1.78
    •  
PROPERTY LISTING DETAILS
Elizabeth Do
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20161611
Last Updated: 08/19/2020
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