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PROPERTY INFO
FACTS
- Single Family
- Built In 1963
- Price/Sqft : $380.00
- 7 Days on Market
- MLS # : OC21031571
- Updated Date : 02/20/2021 at 16:37
CONSTRUCTION
- Beds : 5
- Floor Size : 2,629 sqft
- Baths : 3 full , 1 half
Listing Agent
Nexthome Coastal
Listing Agent's Description
Welcome home to this beautiful Tustin Pool Home! Boasting completely brand new kitchen and bathrooms, this turnkey home is perfect for a lucky family looking for a move-in-ready home! With 2 spacious bedrooms downstairs, serviced by a full bathroom as well as a half bath off the laundry room, this spacious home features a fully updated open concept kitchen - perfect for entertaining! Upstairs you find the 3rd and 4th bedrooms with their own dedicated full bathroom as well as the master suite, complete with ensuite and a massive walk-in closet. The outdoor living space is incredible! The mature landscaping offers beauty and privacy to the large backyard. With the sparkling pool and spa, this backyard is the perfect backdrop for the summer pool parties and BBQs! Low Tax Rate, NO HOA and NO Mello Roos! Don't miss it!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Tustin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Tustin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,650 |
| EXPENSES | Loan Payment | -$3,470 |
| Property Tax | -$980 | |
| Property Insurance | -$91 | |
| Property Management Fees | -$179 | |
|
CASH FLOW
-$1,070
|
||
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.
$999,019
PROJECTED PRICE
$3,650
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$270,490
LOAN DETAILS
$3,470
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $249,755 |
| Loan Amount | $749,264 |
0.75
YEARS SAVED
$3,169
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,650
LIST RENT -
$1.39
LIST RENT PER SQFT
-
$3,777
COMP ESTIMATED VALUE -
$1.44
COMP AVG. RENT PER SQFT
Comps Range
-
14651 Charloma Drive Tustin, CA 2
- 5 beds 4 baths ∙ 2,629 Sqft ∙ Built 1963 5 beds 4 baths ∙ 2,629 Sqft ∙ Built 1963
- Rent
- Rent Per SQFT
- $3,650
- $1.39
-
1681 Brookshire Avenue Tustin, CA 1
- 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 1969
LEASED 10/21/20- Rent
- Rent Per SQFT
- $3,400
- $1.26
-
2192 Silk Tree Drive Tustin, CA 3
- 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 1973
LEASED 04/03/20- Rent
- Rent Per SQFT
- $3,700
- $1.51
-
14831 Braeburn Road Tustin, CA 4
- 5 beds 2 baths ∙ 2,472 Sqft ∙ Built 1969 5 beds 2 baths ∙ 2,472 Sqft ∙ Built 1969
LEASED 05/13/20- Rent
- Rent Per SQFT
- $3,800
- $1.54
PROPERTY LISTING DETAILS
Nexthome Coastal
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21031571
Last Updated: 02/20/2021
