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14302 Raintree Road Tustin, CA 92780

3 Beds 2 Baths 1,242 sqft Built 1974

INVESTimate

$699,900

List Price

$2,740

$2,490 - $2,990

Rent Est.

$743,994  ( +6.30%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $563.53
  • 6 Days on Market
  • MLS # : IG20163858
  • Updated Date : 08/21/2020 at 15:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,242 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This immaculate, professionally-designed home with a private patio and lush rear and front yard, invites relaxation and comfort. With 3 bedrooms, 2 full baths, generous living space and stylish finishes, you'll enjoy a perfect setting for relaxing and entertaining. Beautiful hardwood floors and plenty of natural light flow throughout the home's open, airy layout. Other special highlights include plantation shutters throughout, cathedral ceilings, whole house fan, electric vehicle charging, built in cabinetry, new dual paned windows, custom lighting and fans, upgraded bathrooms, rainfall shower in bath, and landscaped front walk and patio. Enjoy gatherings in the generously-sized living/dining area graced with huge windows and glass sliding doors leading to the rear patio. The large patio and rear yard is perfect for entertaining. Backing up to a gorgeous greenbelt, you'll have no neighbors behind. The luxurious master bedroom is a quiet retreat, with its own private bathroom and rare walk-in closet. This stylish home is located in one of the premier communities in Tustin, spend your weekends enjoying the pool, tennis courts, parks and playgrounds. You'll love the convenience of your own off-street, attached garage and great neighborhood in one of Tustin’s hippest areas. Just a short walk away, you’ll enjoy great shops, bars and restaurants. Check out the 3D Tour here http://bit.ly/14302Raintree

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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

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
W. R. Nelson Elementary School Primary Regular 643 22 4
Utt Middle School Middle Regular 945 34 5
Tustin High School High Regular 2,304 86 7

W. R. Nelson Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 22
4
GreatSchools Rating

Utt Middle School

  • Education Level: Middle
  • # of students: 945
  • # of teachers: 34
5
GreatSchools Rating

Tustin High School

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

$629,910$769,890$699,900

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,582
Property Tax -$634
Property Insurance -$57
HOA -$113
Property Management Fees -$134
CASH FLOW
-$781

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.

$699,900

PROJECTED PRICE

$2,740

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.30%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$3,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $2.21

    LIST RENT PER SQFT
  • $2,732

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,7404$2,8955$2,900
$2,900
RENT COMPS ANALYSIS
  • 14302 Raintree Road Tustin, 3
    • 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $2.21
    •  
  • 1881 Mitchell Avenue Tustin, 1
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1963
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.26
    •  
  • 2232 Barberry Road Tustin, 2
    • 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1975
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.23
    •  
  • 2072 Cherokee Tustin, 4
    • 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 1987
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $2.26
    •  
  • 14451 Deerfield Avenue Tustin, 5
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1971
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.05
    •  
PROPERTY LISTING DETAILS
Diana Renee
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20163858
Last Updated: 08/21/2020
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