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PROPERTY INFO
FACTS
- Single Family
- Built In 1969
- Price/Sqft : $415.91
- 7 Days on Market
- MLS # : PW20252776
- Updated Date : 12/07/2020 at 12:17
CONSTRUCTION
- Beds : 4
- Floor Size : 2,212 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
This single story ranch style, open floor plan, home located on a beautiful cul de sac has 4 bedrooms, 2 bathes. Enter the home through the formal living room with wood floors. The spacious kitchen has bright white wood cabinets and recess lighting, ample stone top prep space and counter height service and eating peninsula. The kitchen is situated between the formal dining room and large family room with a cozy fireplace. The family room gives quick access to the resort backyard with its covered entertainment patio that invites outdoor living including a barbecue kitchen and eat at island all overlooking the pool and spa with tropical landscaping and water slide. The sleeping wing provides a beautiful master suite including a walk in closet and spa like bath with separate shower and soaking tub. The other bedrooms share a bath with a large tiled shower. The separate laundry room opens to a 3-car garage with built-in cabinets. This all on a spacious 7,000+ square foot corner. The home is conveniently located near great coffee shops, major shopping areas, freeways in the highly desirable and prestigious location in the foothills of Orange, adjacent to Orange Park Acres and Villa Park. The area is known for quiet streets, outstanding schools and all with no HOA fees or Mello Roos.
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MARKET HIGHLIGHTS
- 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.
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Orange Park Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Orange Park Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,730 |
| EXPENSES | Loan Payment | -$3,394 |
| Property Tax | -$891 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$183 | |
|
CASH FLOW
-$817
|
||
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.
$920,000
PROJECTED PRICE
$3,730
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.5% |
| 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
$249,550
LOAN DETAILS
$3,394
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $230,000 |
| Loan Amount | $690,000 |
1.58
YEARS SAVED
$10,387
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,730
LIST RENT -
$1.69
LIST RENT PER SQFT
-
$3,760
COMP ESTIMATED VALUE -
$1.7
COMP AVG. RENT PER SQFT
Comps Range
-
1429 N Palo Loma Place Orange, CA 2
- 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1969
![property image]()
- Rent
- Rent Per SQFT
- $3,730
- $1.69
-
1319 N Navarro Place Orange, CA 1
- 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1969
![property image]()
LEASED 06/28/19- Rent
- Rent Per SQFT
- $3,600
- $1.63
-
5915 E Bunker Hill Avenue Orange, CA 3
- 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1976
![property image]()
LEASED 09/18/20- Rent
- Rent Per SQFT
- $4,200
- $1.66
-
5928 E Bunker Hill Avenue Orange Park Acres, CA 4
- 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1977
![property image]()
LEASED 03/04/20- Rent
- Rent Per SQFT
- $4,200
- $1.87
-
5638 E Elsinore Ave Orange, CA 5
- 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1985
![property image]()
LEASED 09/22/20- Rent
- Rent Per SQFT
- $4,200
- $1.64
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20252776
Last Updated: 12/07/2020
