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PROPERTY INFO
FACTS
- Single Family
- Built In 1958
- Price/Sqft : $486.46
- 58 Days on Market
- MLS # : PW20237488
- Updated Date : 11/23/2020 at 13:11
CONSTRUCTION
- Beds : 3
- Floor Size : 2,179 sqft
- Baths : 1 full , 1 half
Listing Agent
Meagher Realty, Inc.
Listing Agent's Description
North Tustin 3 bedroom 3 bath ranch style single family home on over a 10,000 square foot lot. Enjoy the large front entry porch as you enter this home featuring an open floor plan. Upgrades/amenities include newer composition shingle roof (2017) w/seven solar tubes, three zone heating and air conditioning system, dual water heaters, partial dual pane windows, bamboo hardwood flooring throughout (excluding bathrooms), kitchen w/island, granite countertops, stainless steel convection oven/microwave and magnetic induction cooktop, master bathroom w/walk-in tile shower, ceramic tile flooring and granite vanity top, full bathroom with tub/shower combo w/tile walls and corian vanity top, utility bathroom w/ceramic tile flooring and corian vanity top, ceiling fans in family room, dining room and three bedrooms and recessed lighting in kitchen and family room. Along with the two car attached garage comes extra parking space for cars, RV, trailer, camper or boat? Entertainer's/gardener's delight backyard w/covered patio, enclosed patio room, fruit trees and planter boxes. Centrally located to shopping, restaurants, freeways and award winning schools.
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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: East Tustin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Tustin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,460 |
| EXPENSES | Loan Payment | -$3,682 |
| Property Tax | -$1,012 | |
| Property Insurance | -$80 | |
| Property Management Fees | -$170 | |
|
CASH FLOW
-$1,483
|
||
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.
$1,060,000
PROJECTED PRICE
$3,460
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.3% |
| 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
$286,650
LOAN DETAILS
$3,682
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $265,000 |
| Loan Amount | $795,000 |
0.17
YEARS SAVED
$156
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,460
LIST RENT -
$1.59
LIST RENT PER SQFT
-
$3,519
COMP ESTIMATED VALUE -
$1.62
COMP AVG. RENT PER SQFT
Comps Range
-
13772 Brenan Way Santa Ana, CA 4
- 3 beds 2 baths ∙ 2,179 Sqft ∙ Built 1958 3 beds 2 baths ∙ 2,179 Sqft ∙ Built 1958
![property image]()
- Rent
- Rent Per SQFT
- $3,460
- $1.59
-
13111 Hewes Avenue Santa Ana, CA 1
- 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1978
![property image]()
LEASED 11/03/20- Rent
- Rent Per SQFT
- $3,200
- $1.60
-
18141 Casselle Avenue Santa Ana, CA 2
- 3 beds 3 baths ∙ 2,155 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,155 Sqft ∙ Built 1956
![property image]()
LEASED 04/13/20- Rent
- Rent Per SQFT
- $3,295
- $1.53
-
1121 Castlegate Lane Santa Ana, CA 3
- 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1969
![property image]()
LEASED 09/08/20- Rent
- Rent Per SQFT
- $3,350
- $1.65
-
13807 Hewes Avenue North Tustin, CA 5
- 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1961
![property image]()
LEASED 12/01/19- Rent
- Rent Per SQFT
- $3,500
- $1.68
PROPERTY LISTING DETAILS
Meagher Realty, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20237488
Last Updated: 11/23/2020
