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PROPERTY INFO
FACTS
- Single Family
- Built In 1967
- Price/Sqft : $593.40
- 5 Days on Market
- MLS # : OC21032487
- Updated Date : 02/20/2021 at 11:57
CONSTRUCTION
- Beds : 3
- Floor Size : 1,348 sqft
- Baths : 2 full
Listing Agent
Century 21 Masters
Listing Agent's Description
Welcome to the sought after community of Tustin Meadows! This lovely 3 bed, 2 bath Cul-De-Sac home features 1,348 SQFT of living space and sits on a 5,304 SQFT lot! As you walk into the home, you'll notice a spacious room with high vaulted ceilings and cozy fireplace. This single story home features an open floor plan and has lots of windows for natural light. As you walk to the master bedroom you will find a generous sized room with great closet space. The master bath has built-in shelving, perfect for storage! Enjoy the benefits of a pie shaped lot with backyard space to play or garden in. The home also features an attached two car garage, with hookups for a washer and dryer. This home is perfectly located near the Tustin Market Place, The District, schools, fine dining and is convenient to Freeways.
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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 | $2,840 |
| EXPENSES | Loan Payment | -$2,778 |
| Property Tax | -$798 | |
| Property Insurance | -$60 | |
| HOA | -$54 | |
| Property Management Fees | -$139 | |
|
CASH FLOW
-$990
|
||
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.
$799,900
PROJECTED PRICE
$2,840
PROJECTED RENT
0.36%
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
$217,724
LOAN DETAILS
$2,778
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $199,975 |
| Loan Amount | $599,925 |
0.33
YEARS SAVED
$700
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,840
LIST RENT -
$2.11
LIST RENT PER SQFT
-
$2,851
COMP ESTIMATED VALUE -
$2.11
COMP AVG. RENT PER SQFT
Comps Range
-
14692 Dartmouth Circle Tustin, CA 2
- 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1967
- Rent
- Rent Per SQFT
- $2,840
- $2.11
-
14667 Red Hill Avenue Tustin, CA 1
- 3 beds 3 baths ∙ 1,232 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,232 Sqft ∙ Built 1964
LEASED 12/07/20- Rent
- Rent Per SQFT
- $2,750
- $2.23
-
14451 Deerfield Avenue Tustin, CA 3
- 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
-
1467 Sycamore Avenue Tustin, CA 4
- 4 beds 3 baths ∙ 1,357 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,357 Sqft ∙ Built 1964
LEASED 01/03/21- Rent
- Rent Per SQFT
- $2,990
- $2.20
-
14332 Hamlet Lane Tustin, CA 5
- 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1968
LEASED 12/26/20- Rent
- Rent Per SQFT
- $3,000
- $1.98
PROPERTY LISTING DETAILS
Century 21 Masters
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21032487
Last Updated: 02/20/2021
