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PROPERTY INFO
FACTS
- Single Family
- Built In 1963
- Price/Sqft : $463.79
- 3 Days on Market
- MLS # : PW20263155
- Updated Date : 01/01/2021 at 10:38
CONSTRUCTION
- Beds : 4
- Floor Size : 1,671 sqft
- Baths : 1 full
Listing Agent
Century 21 Award
Listing Agent's Description
This 4 bedroom 1.75 bath, 1671 sqft home in Orange is the definition of "turn-key'. The kitchens and bathrooms have been highly upgraded with granite counters. Windows are all double pane with plantation shutters. The living room has a nice vaulted/double ceiling with canned lighting. The home is very energy efficient with insulated walls, double pane windows, tankless water heater, central heat and air conditioning, and ceiling fans. The floors are engineered wood which some say is nicer than actual wood. Lots of storage including an oversized attic. The two car attached, direct access garage is insulated and drywalled. There is a separate family room with a wood burning fireplace, gabled ceilings. and a double pane sliding glass door which leads into the back yard with orange and pomegranate trees. The drought friendly back yard has an amazing view of the mountains and the river. The property is located next to the river walking trails and is close to Eisenhower Park. All this and Villa Park Schools too.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Zip Code: 92865
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92865
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,380 |
| EXPENSES | Loan Payment | -$2,859 |
| Property Tax | -$742 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$166 | |
|
CASH FLOW
-$454
|
||
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.
$775,000
PROJECTED PRICE
$3,380
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 5.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$211,125
LOAN DETAILS
$2,859
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $193,750 |
| Loan Amount | $581,250 |
3.25
YEARS SAVED
$24,796
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,380
LIST RENT -
$2.02
LIST RENT PER SQFT
-
$3,363
COMP ESTIMATED VALUE -
$2.01
COMP AVG. RENT PER SQFT
Comps Range
-
1611 E Riverview Avenue Orange, CA 4
- 4 beds 1 baths ∙ 1,671 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,671 Sqft ∙ Built 1963
- Rent
- Rent Per SQFT
- $3,380
- $2.02
-
3010 N Cottonwood Street Orange, CA 1
- 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
LEASED 01/09/20- Rent
- Rent Per SQFT
- $3,095
- $1.97
-
4173 N Sunset Street Orange, CA 2
- 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 1962
LEASED 05/28/20- Rent
- Rent Per SQFT
- $3,200
- $1.99
-
416 E Meadowbrook Avenue Orange, CA 3
- 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
LEASED 11/01/20- Rent
- Rent Per SQFT
- $3,295
- $2.10
-
3126 N Hearthside Street Orange, CA 5
- 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1967
LEASED 07/07/20- Rent
- Rent Per SQFT
- $3,450
- $1.99
PROPERTY LISTING DETAILS
Century 21 Award
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20263155
Last Updated: 01/01/2021
