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14862 Foxcroft Road Tustin, CA 92780

3 Beds 2 Baths 1,648 sqft Built 1968

$799,999

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $485.44
  • 4 Days on Market
  • MLS # : NDP2003184
  • Updated Date : 12/03/2020 at 17:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Tustin Meadows Single Story with a private pool and over sized lot! Remodeled kitchen with stainless steel appliances, recently remodeled primary bathroom, laminate wood flooring. Newer windows and sliders, fully paid Solar System, tankless water heater, newer energy efficient furnace/AC and more. Walk to local parks, shopping, schools, and local area attractions. This home sits on a rare large lot with no direct neighbors to the rear of the garden, creating an extremely private feeling. Enjoy a bountiful harvest from the mature orange, lemon, avocado trees in the backyard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
A. G. Currie Middle School Middle Regular 763 28 3
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

A. G. Currie Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 28
3
GreatSchools Rating

Tustin High School

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

$719,999$879,999$799,999

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,952
Property Tax -$798
Property Insurance -$67
HOA -$55
Property Management Fees -$151
CASH FLOW
-$943

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.

$799,999

PROJECTED PRICE

$3,080

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
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$15k

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$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $200,000
Loan Amount $599,999
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $3,127

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,975
1$2,9752$3,0003$3,0004$3,0805$3,350
$3,350
RENT COMPS ANALYSIS
  • 14862 Foxcroft Road Tustin, CA 4
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $1.87
    •  
  • 14492 Pinewood Road Tustin, CA 1
    • 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1974
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.89
    •  
  • 14381 Raintree Road Tustin, CA 2
    • 4 beds 1 baths ∙ 1,576 Sqft ∙ Built 1974 4 beds 1 baths ∙ 1,576 Sqft ∙ Built 1974
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.90
    •  
  • 2321 Sable Tree Circle Tustin, CA 3
    • 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
    •  
  • 1651 Amherst Road Tustin, CA 5
    • 4 beds 3 baths ∙ 1,696 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,696 Sqft ∙ Built 1969
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.98
    •  
PROPERTY LISTING DETAILS
Ian Schoenberger
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NDP2003184
Last Updated: 12/03/2020
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