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1501 Cascades Avenue Placentia, CA 92870

3 Beds 2 Baths 1,379 sqft Built 1973

INVESTimate

$739,900

List Price

$2,650

$2,400 - $2,900

Rent Est.

$780,890  ( +5.54%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1973
  • Price/Sqft : $536.55
  • 22 Days on Market
  • MLS # : NP20156792
  • Updated Date : 08/23/2020 at 21:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,379 sqft
  • Baths : 2 full
Listing Agent

Villa Real Estate

Listing Agent's Description

Immaculately upgraded and maintained, detached, single family home on a corner lot. This 2 bed(3rd bedroom used to expand the master)2 bath home sits on the border of Yorba Linda & Placentia. As you walk up the expansive 2-car driveway you will note the possible RV parking/access to the left. Upon entering you are welcomed with wood-look porcelain tile through most of the house, the living room has a wood burning fireplace with river rock surround. The upgraded and expanded kitchen has high end custom cherry cabinetry and a chef's dream Dacor stainless steel 48''is a 6 burner, 2 oven with hood, the family room is open-plan with the kitchen and has built in corner entertainment cabinetry and bose surround sound. The Master bedroom was expanded taking up the 3rd bedroom and has 2 walk in closets, the renovated master bathroom has 3 different shower adjustments for a rainfall, wall head(massage etc) & handheld the ultimate luxury shower. The outside has a large covered patio with built in BBQ & planter bed, ideal for entertaining year round, also a large side garden with grass area and shed 8X12 and 7ft ceilings, another shed 3X2 on the other side of the house. The garage is a finished out with custom built-ins, counter, TV, sink & flooring. Other features of the home include Central HVAC, dual pane windows, insulation, tankless water heater, drought tolerant landscaping, Nest Alarm & Custom Blinds. Walking distance to Parque De Los Vaqueros Park. A must see!!

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MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Zip Code: 92870

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 92870

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
Van Buren Elementary School Primary Regular 689 24 7
Kraemer Middle School Middle Magnet 952 38 7
Valencia High School High Magnet 2,740 100 9

Van Buren Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 24
7
GreatSchools Rating

Kraemer Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 38
7
GreatSchools Rating

Valencia High School

  • Education Level: High
  • # of students: 2,740
  • # of teachers: 100
9
GreatSchools Rating
 

$665,910$813,890$739,900

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,730
Property Tax -$768
Property Insurance -$60
Property Management Fees -$130
CASH FLOW
-$1,038

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.

$739,900

PROJECTED PRICE

$2,650

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.54%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,824

INVESTMENT

$201,824

Down Payment
$184,975
Rehab Estimate
$5,750
Closing Costs
$11,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,975
Loan Amount $554,925
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $2,424

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5953$2,6004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 1501 Cascades Avenue Placentia, 5
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.92
    •  
  • 1589 Sherwood Village Circle Placentia, 1
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1974
    LEASED 04/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.66
    •  
  • 863 Haiti Drive Placentia, 2
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1976
    LEASED 05/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.89
    •  
  • 1137 Moro Circle Placentia, 3
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1973
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.75
    •  
  • 5901 Casson Drive Yorba Linda, 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1969
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.73
    •  
PROPERTY LISTING DETAILS
Brian Gibney
Villa Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP20156792
Last Updated: 08/23/2020
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