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16656 Olive Street Fountain Valley, CA 92708

4 Beds 3 Baths 1,923 sqft Built 1965

$875,000

List Price

$3,390

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1965
  • Price/Sqft : $455.02
  • 9 Days on Market
  • MLS # : OC20225818
  • Updated Date : 10/30/2020 at 14:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,923 sqft
  • Baths : 3 full
Listing Agent

Nextgen Team Realty

Listing Agent's Description

Investor Dream!!!!!! Cash Only! Centrally located on Bushard St between Heil and Warner is this cozy 1,923 sqft SFR on a large lot of nearly 7,500 sqft! Quietly tucked into a well-kept neighborhood is this standard 4-bedroom 3-bath comfortable and spacious home. Property sits near the cul-de-sac and features 2 car garages, a beautiful front courtyard that is both private and spacious enough for additional ADU and planting. Nearby school falls both within the Fountain Valley as well as Huntington Beach districts. The location is within minutes from major bustling shops, stores, malls, restaurants, the Huntington Beach shorelines, and accessible from most major O.C. freeways. It is a Fixer-Upper home. Please contact John Tran for further inquiries!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Fountain Valley

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k816k

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

Neighborhood: Fountain Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2180020002200240026002800300032003400Rent in $17723435

* 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
Urbain H. Plavan Elementary School Primary Regular 533 19 8
Kazuo Masuda Middle School Middle Regular 778 31 9
Fountain Valley High School High Regular 3,704 127 9

Urbain H. Plavan Elementary School

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 19
8
GreatSchools Rating

Kazuo Masuda Middle School

  • Education Level: Middle
  • # of students: 778
  • # of teachers: 31
9
GreatSchools Rating

Fountain Valley High School

  • Education Level: High
  • # of students: 3,704
  • # of teachers: 127
9
GreatSchools Rating
 

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

PURCHASE PRICE

$3,051$3,729$3,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,390
EXPENSES Loan Payment -$3,228
Property Tax -$861
Property Insurance -$74
Property Management Fees -$166
CASH FLOW
-$939

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

$3,390

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.7%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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

1.17

YEARS SAVED

$5,343

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,390

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $3,346

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,2504$3,3905$3,400
$3,400
RENT COMPS ANALYSIS
  • 16656 Olive Street Fountain Valley, CA 4
    • 4 beds 3 baths ∙ 1,923 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,923 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $1.76
    •  
  • 17071 Ross Street Fountain Valley, CA 1
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1976
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.82
    •  
  • 9433 Geranium Circle Fountain Valley, CA 2
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1965
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.69
    •  
  • 16713 Apple Street Fountain Valley, CA 3
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1967 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1967
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.66
    •  
  • 9800 Dandelion Avenue Fountain Valley, CA 5
    • 4 beds 3 baths ∙ 1,904 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,904 Sqft ∙ Built 1968
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.79
    •  
PROPERTY LISTING DETAILS
John Tran
Nextgen Team Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20225818
Last Updated: 10/30/2020
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