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1429 E Albion Lane Orange, CA 92866

3 Beds 3 Baths 1,681 sqft Built 1961

$750,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $446.16
  • 5 Days on Market
  • MLS # : PW20263548
  • Updated Date : 01/06/2021 at 12:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,681 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Welcome to 1429 E Albion Ln! Enter through the vinyl fence and abundance of fruit trees. Other than Remodeled kitchen and baths, double paned windows, crown molding, 6-paneled interior doors, this home has many unique features. The master bedroom has cedar lined walk-in closet. The master bath has a heated towel rack, heated floor and a bidet. Extra insulation, a huge pull down access to storage in the attic, and a whole house fan are also special bonuses. Space saving pocket doors with mirrors are a great convenience. Spacious living room with beautiful fireplace, large picture window and wired for surround sound. The large family kitchen has skylights and a greenhouse window along with pull-out drawers and the stove can be either gas or electric. The hall bath has a double sink vanity and tub-shower combo. This home sits on a large corner lot of a cul-de-sac street. There is a large gated RV parking space as well. If you love fruit trees and plants...this is the home for you! The backyard is a gardeners delight with several fruit trees and exotic plants, along with negotiable above ground spa and a fire pit. Don't miss this great home!

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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: Cabrillo Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: Cabrillo Park

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
Fairhaven Elementary School Primary Regular 587 25 3
Fairhaven Elementary School Middle Regular 587 25 3
Orange High School High Regular 1,927 79 4

Fairhaven Elementary School

  • Education Level: Primary
  • # of students: 587
  • # of teachers: 25
3
GreatSchools Rating

Fairhaven Elementary School

  • Education Level: Middle
  • # of students: 587
  • # of teachers: 25
3
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,605
Property Tax -$715
Property Insurance -$67
Property Management Fees -$157
CASH FLOW
-$344

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.

$750,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.5%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$28,013

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $3,438

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,2004$3,4005$3,450
$3,450
RENT COMPS ANALYSIS
  • 1429 E Albion Lane Orange, CA 3
    • 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.90
    •  
  • 328 S California Street Orange, CA 1
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1961
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
  • 1940 E Stearns Avenue Orange, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1968
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 2425 N Linwood Avenue Santa Ana, CA 4
    • 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1972
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.94
    •  
  • 2709 Dayna Street Orange, CA 5
    • 4 beds 2 baths ∙ 1,662 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,662 Sqft ∙ Built 1969
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.08
    •  
PROPERTY LISTING DETAILS
Andi Maccallum
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20263548
Last Updated: 01/06/2021
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