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PROPERTY INFO
FACTS
- Single Family
- Built In 1968
- Price/Sqft : $485.64
- 4 Days on Market
- MLS # : OC21013615
- Updated Date : 02/04/2021 at 14:53
CONSTRUCTION
- Beds : 4
- Floor Size : 2,054 sqft
- Baths : 2 full
Listing Agent
Redfin
Listing Agent's Description
Welcome home to this beautifully upgraded 4 bedroom, 2 bath home located on private cul-de-sac. Upon Entering the home you will be greeted with a dramatic vaulted ceilings custom flooring and open concept living with an abundance of natural light. The gourmet Chefs kitchen is the heart of the home and features white shaker cabinets, quartz countertops, industrial stainless steel appliances, and custom eating bar. The open floorplan connects the kitchen with the spacious family room that features a cozy fireplace and panoramic views of the tropical oasis backyard. Custom newer dual pain windows throughout with fresh paint and crown molding. The completely renovated master features private retreat with grand views of the back yard, and 2 large floor to ceiling closets with built ins along with a spacious Master bath dual vanity and luxurious walk in shower. With 3 additional bedrooms this home is perfect for the expanding family. The recently refreshed backyard was designed for entertaining with herb garden, a custom pool and spa with separate areas to retreat and relax. Also featuring solar panels, recent repipe with PEX, newer whole-house water filter system and mature Bacon Avocado tree that produces over 500 fruits per season! This home is located in one of the most highly desired areas in the Beckman school district.
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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 | $3,540 |
| EXPENSES | Loan Payment | -$3,465 |
| Property Tax | -$956 | |
| Property Insurance | -$77 | |
| HOA | -$20 | |
| Property Management Fees | -$173 | |
|
CASH FLOW
-$1,151
|
||
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.
$997,500
PROJECTED PRICE
$3,540
PROJECTED RENT
0.35%
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
$270,088
LOAN DETAILS
$3,465
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $249,375 |
| Loan Amount | $748,125 |
0.42
YEARS SAVED
$1,350
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,540
LIST RENT -
$1.72
LIST RENT PER SQFT
-
$3,512
COMP ESTIMATED VALUE -
$1.71
COMP AVG. RENT PER SQFT
Comps Range
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13132 Ranchwood Road Tustin, CA 1
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- $3,300
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LEASED 09/30/20- Rent
- Rent Per SQFT
- $3,475
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-
1151 Letty Lane Tustin, CA 4
- 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1963
LEASED 10/06/20- Rent
- Rent Per SQFT
- $3,700
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-
13162 Silver Birch Drive Tustin, CA 5
- 5 beds 3 baths ∙ 2,243 Sqft ∙ Built 1964 5 beds 3 baths ∙ 2,243 Sqft ∙ Built 1964
LEASED 10/03/20- Rent
- Rent Per SQFT
- $3,795
- $1.69
PROPERTY LISTING DETAILS
Redfin
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21013615
Last Updated: 02/04/2021
