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14232 Willow Lane Tustin, CA 92780

3 Beds 1 Baths 1,814 sqft Built 1972

$795,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $438.26
  • 2 Days on Market
  • MLS # : PW20247795
  • Updated Date : 11/28/2020 at 17:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,814 sqft
  • Baths : 1 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Spacious home in peaceful ENDERLE GARDENS, a unique community of single-level homes in the heart of Tustin. A senior community, one resident must be 55 or older. The large and inviting den with stone-faced fireplace has served as an additional bedroom to the good-sized two other bedrooms. The Master bedroom is 19 x 12+, has two closets, one mirrored, and the other a large walk-in. Master bath has double sinks and separate water closet and shower. Plantation-shuttered doors and windows everywhere. The kitchen has extensive white cabinets, black granite countertops, a four-burner Thermador gas cooktop, and a single stainless steel sink. Recessed lighting in most rooms. This development is one large cul-de-sac of 61 homes on large lots which afford lots of privacy for the residents. There is over one acre of common area grounds which are good for peaceful walking or biking, day or night. The Association dues of $710 per quarter includes garden maintenance in the front and rear yards. Wonderful location close to restaurants, hospitals, shopping and easy access to freeways.

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MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Tustin

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k745k

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

Neighborhood: Tustin

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443366

* 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
Guin Foss Elementary School Primary Regular 452 16 8
Columbus Tustin Middle School Middle Magnet 938 34 5
Foothill High School High Regular 2,526 94 9

Guin Foss Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 16
8
GreatSchools Rating

Columbus Tustin Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 34
5
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 94
9
GreatSchools Rating
 

$715,500$874,500$795,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,933
Property Tax -$813
Property Insurance -$71
HOA -$237
Property Management Fees -$162
CASH FLOW
-$916

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.

$795,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$216,425

INVESTMENT

$216,425

Down Payment
$198,750
Rehab Estimate
$5,750
Closing Costs
$11,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $198,750
Loan Amount $596,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,397

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2953$3,3004$3,3005$3,400
$3,400
RENT COMPS ANALYSIS
  • 14232 Willow Lane Tustin, CA 4
    • 3 beds 1 baths ∙ 1,814 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,814 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.82
    •  
  • 13981 Brenan Way North Tustin, CA 1
    • 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 1958
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.77
    •  
  • 913 Mirasol Street Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1959
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.89
    •  
  • 1105 N Lyon Street Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1955
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.80
    •  
  • 14021 Matryce North Tustin, CA 5
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1963
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.03
    •  
PROPERTY LISTING DETAILS
Marion Anderson
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20247795
Last Updated: 11/28/2020
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