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1429 N Palo Loma Place Orange, CA 92869

4 Beds 2 Baths 2,212 sqft Built 1969

$920,000

List Price

$3,730

$3.5K - $4K

Rent Est.

PROPERTY INFO

December 07, 2020 RECENTLY ADDED
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.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $260k922k

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

Neighborhood: Orange Park Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18633900

* 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
Linda Vista Elementary School Primary Regular 483 19 7
Linda Vista Elementary School Middle Regular 483 19 7
El Modena High School High Regular 2,196 89 7

Linda Vista Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 19
7
GreatSchools Rating

Linda Vista Elementary School

  • Education Level: Middle
  • # of students: 483
  • # of teachers: 19
7
GreatSchools Rating

El Modena High School

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

$828,000$1,012,000$920,000

PURCHASE PRICE

$3,357$4,103$3,730

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$249,550

INVESTMENT

$249,550

Down Payment
$230,000
Rehab Estimate
$5,750
Closing Costs
$13,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,394

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $230,000
Loan Amount $690,000
See What Happens When You Reinvest Cash Flow

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
$3,600
1$3,6002$3,7303$4,2004$4,2005$4,200
$4,200
RENT COMPS ANALYSIS
  • 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
Greg Bingham
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20252776
Last Updated: 12/07/2020
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