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15621 California Tustin, CA 92780

5 Beds 2 Baths 1,775 sqft Built 1962

$679,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $382.54
  • 3 Days on Market
  • MLS # : 200052308
  • Updated Date : 11/20/2020 at 20:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,775 sqft
  • Baths : 2 full
Listing Agent

Realty Sales Pros, Inc.

Listing Agent's Description

FANTASTIC-FAB-FIXER - TIME IS $$MONEY$$ - DON'T DELAY CHECK OUT THIS DETACHED HOME IN THE CITY OF TUSTIN IN A GREAT NEIGHBORHOOD. FEATURING 1,775 SF - 5 BEDROOMS, 2 BATHS AND 2 CAR GARAGE ON A LARGE 7,474 LOT CASH ONLY (NO FHA, VA, CONV LOANS) - CASH ONLY - SUBMIT BONA-FIDE OFFER WITH PROOF OF FUNDS. PRICED TO SELL TODA WAITING FOR YOUR "REMODEL/FLIP CONCEPT" --- TO TURN THIS FINE PROPERTY INTO THE PROFITABLE SALE ONLY YOU KNOW HOW TO DO -- - READY TO GO TODAY. NEAR LOCAL SHOPS, STORES, MARKET, 5/405 Other Fees: 0 Sewer: Sewer Connected, Public Sewer Topography: LL

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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
Benjamin F. Beswick Elementary School Primary Regular 678 23 5
A. G. Currie Middle School Middle Regular 763 28 3
Tustin High School High Regular 2,304 86 7

Benjamin F. Beswick Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 23
5
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
 

$611,100$746,900$679,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,505
Property Tax -$690
Property Insurance -$70
Property Management Fees -$162
CASH FLOW
-$127

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.

$679,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.49%

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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$185,685

INVESTMENT

$185,685

Down Payment
$169,750
Rehab Estimate
$5,750
Closing Costs
$10,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $169,750
Loan Amount $509,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$45,128

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $1.86

    LIST RENT PER SQFT
  • $3,550

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,2003$3,3004$3,3505$3,950
$3,950
RENT COMPS ANALYSIS
  • 15621 California Tustin, CA 3
    • 5 beds 2 baths ∙ 1,775 Sqft ∙ Built 1962 5 beds 2 baths ∙ 1,775 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.86
    •  
  • 17481 Via Calma Tustin, CA 1
    • 4 beds 3 baths ∙ 1,452 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,452 Sqft ∙ Built 1972
    property image
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.96
    •  
  • 1272 Langdale Lane Tustin, CA 2
    • 4 beds 2 baths ∙ 1,514 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,514 Sqft ∙ Built 1968
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.11
    •  
  • 1651 Amherst Road Tustin, CA 4
    • 4 beds 3 baths ∙ 1,696 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,696 Sqft ∙ Built 1969
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.98
    •  
  • 13362 Epping Way Tustin, CA 5
    • 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 1964
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.95
    •  
PROPERTY LISTING DETAILS
Patrick Alexander
Realty Sales Pros, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 200052308
Last Updated: 11/20/2020
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