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16702 E Main Street Orange, CA 92865

3 Beds 3 Baths 1,393 sqft Built 1960

$749,900

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $538.33
  • 4 Days on Market
  • MLS # : PW20254821
  • Updated Date : 12/11/2020 at 17:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,393 sqft
  • Baths : 3 full
Listing Agent

Mashney Realty

Listing Agent's Description

Beautiful single level residence in the prime Olive Heights neighborhood of Orange, situated within few minutes walking distance from the serene Eisenhower Park. This pristine and spacious property with plenty of natural light. 3 bedrooms and 3 baths, boasting modern upgrades such as new energy saver windows and shutters, flooring throughout the entire house, while some of its original elements remain well-preserved. kitchen is fully equiped, granite countertops, and a spacious dining area—entry to the laundry room and a two-car garage with an expansive driveway is just off the side. 3 spacious with plenty of closet space and sunlight; a linen closet in the hallway offers extra storage options. The master bedroom has a walk-in closet and the bathroom has been recently upgraded with modern fixtures and amenities. Central to the house is a large and bright living-room complete with a fire place. The front yard has been well-maintained offering beautiful greenery and curbside appeal, once you have accessed through a sliding patio door from the kitchen/dining area there is a large wooden deck protected by a retractable awning great for barbecue and entertainment, complete with a gazebo and a hot tub. This deck overlooks a massive backyard, lined with fruit and coniferous trees, and includes a storage sheds, a pergola with a pool table and TV. Two play sets for kids to enjoy and a paved driveway leading to the side gate allows for an RV or additional parking.

SEE MORE

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 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 92865

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92865

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17223345

* 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
Olive Elementary School Primary Regular 503 19 4
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Olive Elementary School

  • Education Level: Primary
  • # of students: 503
  • # of teachers: 19
4
GreatSchools Rating

Cerro Villa Middle School

  • Education Level: Middle
  • # of students: 1,028
  • # of teachers: 40
6
GreatSchools Rating

Villa Park High School

  • Education Level: High
  • # of students: 2,475
  • # of teachers: 89
8
GreatSchools Rating
 

$674,910$824,890$749,900

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,767
Property Tax -$708
Property Insurance -$60
Property Management Fees -$128
CASH FLOW
-$1,053

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.

$749,900

PROJECTED PRICE

$2,610

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $2,591

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,6104$2,6955$3,095
$3,095
RENT COMPS ANALYSIS
  • 16702 E Main Street Orange, CA 3
    • 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.87
    •  
  • 2525 N Bourbon Street N Orange, CA 1
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1964
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.87
    •  
  • 2855 N Cottonwood Street Orange, CA 2
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1973
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.86
    •  
  • 3000 N Woods Street Orange, CA 4
    • 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1974
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.74
    •  
  • 3010 N Cottonwood Street Orange, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Victoria Abbey
Mashney Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20254821
Last Updated: 12/11/2020
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