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142 S Craig Drive Orange, CA 92869

5 Beds 3 Baths 2,735 sqft Built 1963

$885,000

List Price

$3,960

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $323.58
  • 11 Days on Market
  • MLS # : PW21045598
  • Updated Date : 03/10/2021 at 19:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,735 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

INCREDIBLE OPPORTUNITY! Calling buyers, and investors , you have found the perfect property, 5 large bedrooms and 3 large bathrooms! This property is at the end of the cul-de-sac on a huge 9,100 square foot lot with great curb appeal! This property is ready for a new look and is a blank slate, with a huge down stairs bonus room which could be converted into a HUGE downstairs bedroom with can lights and a sliding glass window which leads to the spacious green backyard. Also a downstairs full bathroom. A nice functional kitchen, a big dining room and an oversized family room. Upstairs features 3 large bedrooms and a good size bathroom. The double door Master bedroom and the master bathroom are ready for your finishing touches to make this place your own. Large 3 car garage. This BEAUTIFUL home could be your million dollar plus DREAM HOME! Please don't miss out on this opportunity!

SEE MORE

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: El Modena

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: El Modena

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943345

* 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
Santiago Middle School Middle Charter 967 38 5
El Modena High School High Regular 2,196 89 7
Santiago Middle School Middle Unknown NA

Santiago Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 38
5
GreatSchools Rating

El Modena High School

  • Education Level: High
  • # of students: 2,196
  • # of teachers: 89
7
GreatSchools Rating

Santiago Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$796,500$973,500$885,000

PURCHASE PRICE

$3,564$4,356$3,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,960
EXPENSES Loan Payment -$3,074
Property Tax -$866
Property Insurance -$91
Property Management Fees -$194
CASH FLOW
-$265

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$885,000

PROJECTED PRICE

$3,960

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
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-$10k$0.0$10k$20k$30k

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$240,275

INVESTMENT

$240,275

Down Payment
$221,250
Rehab Estimate
$5,750
Closing Costs
$13,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$3,074

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $221,250
Loan Amount $663,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$44,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,960

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $4,171

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,7003$3,9604$4,4005$4,800
$4,800
RENT COMPS ANALYSIS
  • 142 S Craig Drive Orange, CA 3
    • 5 beds 3 baths ∙ 2,735 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,735 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,960
    • $1.45
    •  
  • 645 S Yorba St Orange, CA 1
    • 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 1962
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.47
    •  
  • 13501 Prospect Avenue Santa Ana, CA 2
    • 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1955 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1955
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.47
    •  
  • 2213 N Mantle Lane Santa Ana, CA 4
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1965
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $1.56
    •  
  • 13611 Yorba Street North Tustin, CA 5
    • 4 beds 2 baths ∙ 3,000 Sqft ∙ Built 1948 4 beds 2 baths ∙ 3,000 Sqft ∙ Built 1948
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $1.60
    •  
PROPERTY LISTING DETAILS
Daniel Deforest
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21045598
Last Updated: 03/10/2021
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