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154 N Pixley Street Orange, CA 92868

3 Beds 2 Baths 1,228 sqft Built 1923

$875,000

List Price

$3,190

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1923
  • Price/Sqft : $712.54
  • 7 Days on Market
  • MLS # : PW20240860
  • Updated Date : 11/16/2020 at 13:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 2 full
Listing Agent

Dwell Nuvo Properties Inc

Listing Agent's Description

Love where you live! Historic Craftsman style home walking distance to Old Towne Orange and Chapman University. Historic charm meets modern conveniences in this beautifully remodeled 3 bedroom 2 bath home. Bright and light living room with wood windows and cozy fireplace. Spacious dining room area with charming built in hutch that leads to the remodeled kitchen with shining quartz countertops and stainless steel appliances. Three bedrooms with ample closets and nicely remodeled bathrooms. Enjoy the back yard with lovely patio and beautiful landscaping. Turn the detached studio into your own office, art studio or gym. You are not just buying a home here, you are investing in a lifestyle where you can stroll down tree lined streets with beautiful historic homes to the many shops and fine restaurants Old Towne Orange has to offer. College close makes it great for investors too! Come take a look and make this beautiful house your new home.

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: Old Towne

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $219k742k

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

Neighborhood: Old Towne

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $16033345

* 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
Sycamore Elementary School Primary Regular 443 16 4
Sycamore Elementary School Middle Regular 443 16 4
Orange High School High Regular 1,927 79 4

Sycamore Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 16
4
GreatSchools Rating

Sycamore Elementary School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 16
4
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$787,500$962,500$875,000

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$3,228
Property Tax -$857
Property Insurance -$56
Property Management Fees -$156
CASH FLOW
-$1,107

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.

$875,000

PROJECTED PRICE

$3,190

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.6%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,228

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,493

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,190

    LIST RENT
  • $2.6

    LIST RENT PER SQFT
  • $3,174

    COMP ESTIMATED VALUE
  • $2.59

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$2,9003$3,1454$3,1905$3,500
$3,500
RENT COMPS ANALYSIS
  • 154 N Pixley Street Orange, CA 4
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1923
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $2.60
    •  
  • 478 S Grand Street Orange, CA 1
    • 3 beds 1 baths ∙ 1,066 Sqft ∙ Built 1904 3 beds 1 baths ∙ 1,066 Sqft ∙ Built 1904
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.62
    •  
  • 340 S Olive Street Orange, CA 2
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1922
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.64
    •  
  • 181 N Lester Drive Orange, CA 3
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1930 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1930
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,145
    • $2.62
    •  
  • 609 S Orange Street Orange, CA 5
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1915 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1915
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.46
    •  
PROPERTY LISTING DETAILS
Kathleen Rodriguez
Dwell Nuvo Properties Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20240860
Last Updated: 11/16/2020
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