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14352 Morning Glory Road Tustin, CA 92780

4 Beds 3 Baths 1,801 sqft Built 1973

$809,000

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $449.19
  • 5 Days on Market
  • MLS # : PW21000705
  • Updated Date : 01/06/2021 at 08:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,801 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redpoint Realty

Listing Agent's Description

Bright and airy Laurel wood Patio Home with Great 4 bedrooms & 2.5 Baths detached home located on premium mid track. As you enter this home you are greeted by a spacious Living room with vaulted ceilings, Wood burning fireplace & Laminated wood flooring. Formal dining room, lots of natural light, Master Bedroom on the main floor with its own bath & two closets, 3 bedrooms upstairs, Spacious kitchen with Breakfast eating area, Stainless steel appliances, granite counter. Cozy private backyard for relaxing & 2 car garage with direct access. Perfectly positioned for shopping at either The District or The Marketplace! Just Minutes to I-5, 55 Fwy & 261/241 Toll Road. Enjoy Laurelwood amenities offer 4 acre private park, pool, lighted Tennis Courts/Sports Court and playground. Laurelwood homeowners may enjoy a RV storage area, which is subject to availability and a nominal fee.

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
 

$728,100$889,900$809,000

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$2,810
Property Tax -$733
Property Insurance -$71
HOA -$135
Property Management Fees -$164
CASH FLOW
-$573

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.

$809,000

PROJECTED PRICE

$3,340

PROJECTED RENT

0.41%

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$220,135

INVESTMENT

$220,135

Down Payment
$202,250
Rehab Estimate
$5,750
Closing Costs
$12,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,810

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $202,250
Loan Amount $606,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$13,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,340

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $3,341

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1003$3,2004$3,3405$3,750
$3,750
RENT COMPS ANALYSIS
  • 14352 Morning Glory Road Tustin, CA 4
    • 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,340
    • $1.85
    •  
  • 2321 Sable Tree Circle Tustin, CA 1
    • 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 1974
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.82
    •  
  • 13418 Via Don Benito Tustin, CA 2
    • 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 1989
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.75
    •  
  • 13709 Comanche Tustin, CA 3
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1989
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.77
    •  
  • 2051 Yaqi Tustin, CA 5
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1987
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.08
    •  
PROPERTY LISTING DETAILS
Inkyung Kim
Redpoint Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21000705
Last Updated: 01/06/2021
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