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1425 Georgia Street Tustin, CA 92782

3 Beds 3 Baths 1,977 sqft Built 2009

$849,000

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $429.44
  • 3 Days on Market
  • MLS # : ND20238842
  • Updated Date : 11/13/2020 at 14:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,977 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Beautiful, recently updated, Colonial home in The Verandas at Columbus Square! This community is located in highly sought after Tustin Legacy. This fully detached light and bright home features 3 bedrooms, 2.5 bathrooms, tasteful dining room, master suite with dual sinks, separate shower, spacious walk-in closet, living room with fireplace, gourmet kitchen with breakfast counter island and landscaped yard for entertaining. Two porches off both the living room and upstairs master are perfect for entertaining or enjoying morning coffee. Just completed upgrades include flooring throughout, quartz countertops in kitchen and new backsplash, along with new paint throughout! Community at Columbus Square is filled with resort style amenities including Jr. Olympic size salt-water pool, hot tub, 4 parks, BBQ grills, Gym, and a Clubhouse to name a few. Great schools include Heritage Elementary, a STEAM school, and Legacy Academy, the newest school in Tustin recently opened for middle and high school students with a focus in Technology, Innovation, Design, and Entrepreneurship (TIDE). This home is conveniently located within a short distance to the major highways of Orange County, Tustin Marketplace, The District at Tustin, and John Wayne Airport.

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: Tustin Legacy

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k946k

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

Neighborhood: Tustin Legacy

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000420044004600Rent in $19814714

* 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
Heritage Elementary School Primary Regular 7
A. G. Currie Middle School Middle Regular 763 28 3
Tustin High School High Regular 2,304 86 7

Heritage Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
7
GreatSchools Rating

A. G. Currie Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 28
3
GreatSchools Rating

Tustin High School

  • Education Level: High
  • # of students: 2,304
  • # of teachers: 86
7
GreatSchools Rating
 

$764,100$933,900$849,000

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$3,132
Property Tax -$1,011
Property Insurance -$75
HOA -$131
Property Management Fees -$170
CASH FLOW
-$1,059

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.

$849,000

PROJECTED PRICE

$3,460

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

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$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,132

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$940

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
  • $1.75

    LIST RENT PER SQFT
  • $3,494

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4003$3,4004$3,4605$3,600
$3,600
RENT COMPS ANALYSIS
  • 1425 Georgia Street Tustin, CA 4
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $1.75
    •  
  • 15210 Henry Way Tustin, CA 1
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2007
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.81
    •  
  • 1421 Georgia Street Tustin, CA 2
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2009
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.72
    •  
  • 1455 Madison Street Tustin, CA 3
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2008
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.72
    •  
  • 15222 Davenport Street Tustin, CA 5
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2006
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.82
    •  
PROPERTY LISTING DETAILS
Robert John Morrell
Realty One Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: ND20238842
Last Updated: 11/13/2020
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