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1326 Omaha Avenue Placentia, CA 92870

5 Beds 2 Baths 1,922 sqft Built 1964

$929,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $483.35
  • 6 Days on Market
  • MLS # : OC21149300
  • Updated Date : 07/08/2021 at 17:59
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,922 sqft
  • Baths : 1 full , 1 half
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Excellent opportunity to purchase a very spacious 5 bedroom 2.5 bath home, on the far east side of Placentia adjacent to the city of Yorba Linda. This super stunning home features upgrades galore. From the moment you pull up to well manicured yard and planters, to entering into the front door to the semi open concept living space. Boasting almost 2000 square feet of living space, this home will not disappoint.

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MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Zip Code: 92870

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92870

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
Kraemer Middle School Middle Magnet 952 38 7
Valencia High School High Magnet 2,740 100 9

Kraemer Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 38
7
GreatSchools Rating

Valencia High School

  • Education Level: High
  • # of students: 2,740
  • # of teachers: 100
9
GreatSchools Rating
 

$836,100$1,021,900$929,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$3,227
Property Tax -$935
Property Insurance -$74
Property Management Fees -$167
CASH FLOW
-$1,001

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.

$929,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$251,935

INVESTMENT

$251,935

Down Payment
$232,250
Rehab Estimate
$5,750
Closing Costs
$13,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,227

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $232,250
Loan Amount $696,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,806

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $3,378

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,4003$3,5004$3,7005$3,795
$3,795
RENT COMPS ANALYSIS
  • 1326 Omaha Avenue Placentia, CA 2
    • 5 beds 2 baths ∙ 1,922 Sqft ∙ Built 1964 5 beds 2 baths ∙ 1,922 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.77
    •  
  • 5951 Trail View Place Yorba Linda, CA 1
    • 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 1969
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.71
    •  
  • 1107 Montecito Street Placentia, CA 3
    • 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1965
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.70
    •  
  • 4521 Casa Oro Drive Yorba Linda, CA 4
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1964 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1964
    LEASED 04/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.81
    •  
  • 1354 Valencia Avenue Placentia, CA 5
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1965
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.81
    •  
PROPERTY LISTING DETAILS
Dave Troutt
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21149300
Last Updated: 07/08/2021
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