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PROPERTY INFO
FACTS
- Single Family
- Built In 1963
- Price/Sqft : $559.88
- 4 Days on Market
- MLS # : PW21024014
- Updated Date : 02/04/2021 at 16:16
CONSTRUCTION
- Beds : 3
- Floor Size : 1,518 sqft
- Baths : 2 full
Listing Agent
Century 21 Masters
Listing Agent's Description
3D Tour available!!! Click the "VT Camera" link above to view. Another beautiful rehab completed by the star of HGTV's Flip or Flop. No expense was spared on the transformation of this mid-century 3 bedroom, 2 bath home. The home is pristine and the many designer touches are highlighted by all the natural light. Whether you have a growing family or love to entertain, this home is perfect! The distressed wood laminate flooring throughout the home is not only beautiful, but it is easily maintained. The open kitchen has been completely redone with all new shaker cabinets, beautiful Quartz counter tops, a stunning tile backsplash and stainless steel appliances. The master bedroom has an en-suite bathroom that is a spa like oasis with a new double vanity, black fixtures, quartz counter tops and a custom tiled shower. The secondary bathroom has also been beautifully appointed with a new vanity, tile flooring, and a custom tiled shower. There are 2 more good sized bedrooms with ample closet space. The backyard features a newly landscaped grass area, and a new concrete patio! All of this AND a brand new 200 amp electrical panel and new water lines! Show your most discerning buyers this home, they are sure to fall in love!
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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
Neighborhood: Red Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Red Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,050 |
| EXPENSES | Loan Payment | -$2,952 |
| Property Tax | -$814 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$149 | |
|
CASH FLOW
-$929
|
||
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.
$849,900
PROJECTED PRICE
$3,050
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 6.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.81% |
| 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
$230,974
LOAN DETAILS
$2,952
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $212,475 |
| Loan Amount | $637,425 |
0.67
YEARS SAVED
$1,924
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,050
LIST RENT -
$2.01
LIST RENT PER SQFT
-
$3,051
COMP ESTIMATED VALUE -
$2.01
COMP AVG. RENT PER SQFT
Comps Range
-
1291 Olwyn Drive Tustin, CA 4
- 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1963
- Rent
- Rent Per SQFT
- $3,050
- $2.01
-
457 E 1st Street Tustin, CA 1
- 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1964
LEASED 02/28/20- Rent
- Rent Per SQFT
- $2,600
- $1.97
-
12700 Newport Avenue Tustin, CA 2
- 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1969
LEASED 08/24/20- Rent
- Rent Per SQFT
- $2,700
- $2.02
-
1321 Lurline Lane Tustin, CA 3
- 4 beds 2 baths ∙ 1,407 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,407 Sqft ∙ Built 1960
LEASED 11/02/19- Rent
- Rent Per SQFT
- $3,000
- $2.13
-
12801 Del Rey Drive North Tustin, CA 5
- 3 beds 1 baths ∙ 1,665 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,665 Sqft ∙ Built 1959
LEASED 09/25/19- Rent
- Rent Per SQFT
- $3,200
- $1.92
PROPERTY LISTING DETAILS
Century 21 Masters
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21024014
Last Updated: 02/04/2021
