Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

14332 Cherrywood Lane Tustin, CA 92780

3 Beds 2 Baths 1,364 sqft Built 1975

$725,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $531.52
  • 4 Days on Market
  • MLS # : OC21039338
  • Updated Date : 02/25/2021 at 15:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,364 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Beautiful single-story patio home located in the Laurelwood community of Tustin. Recessed lighting, warm laminate wood floors and upgraded windows throughout complement the bright and open floorplan. Enter into the inviting living room featuring a cozy brick fireplace. The neighboring spacious family room offers vaulted ceilings with light-catching retractable skylights and opens to the kitchen and dining room. The kitchen features an energy-efficient electric stove top, high-power range hood, reverse osmosis water system under the sink and direct access to the garage. Down the hall, the master bedroom features an upgraded designer en-suite bathroom with a walk-in shower. The secondary bedroom is generously sized and adjacent to the full hall bathroom. Additional features include a new water heater, sensor & diming lights, and customized shades & blinds throughout. Relax or entertain in the spacious and low-maintenance backyard with new vinyl fencing. Enjoy the nearby community pool, spa, basketball & tennis courts, playground, HOA RV parking and Laurelwood's 4-acre private park.

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

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
 

$652,500$797,500$725,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,518
Property Tax -$657
Property Insurance -$60
HOA -$135
Property Management Fees -$134
CASH FLOW
-$765

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.

$725,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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-$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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,320

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
  • $2.01

    LIST RENT PER SQFT
  • $2,905

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,6003$2,7404$2,7505$2,900
$2,900
RENT COMPS ANALYSIS
  • 14332 Cherrywood Lane Tustin, CA 3
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $2.01
    •  
  • 2245 Clover Drive Tustin, CA 1
    • 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1975
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.01
    •  
  • 2232 Barberry Road Tustin, CA 2
    • 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1975
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.23
    •  
  • 14667 Red Hill Avenue Tustin, CA 4
    • 3 beds 3 baths ∙ 1,232 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,232 Sqft ∙ Built 1964
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.23
    •  
  • 14451 Deerfield Avenue Tustin, CA 5
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1971
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.05
    •  
PROPERTY LISTING DETAILS
Ginger Huetsch
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21039338
Last Updated: 02/25/2021
BESbswy