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16809 Mulberry Circle Fountain Valley, CA 92708

3 Beds 3 Baths 1,865 sqft Built 1965

$975,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $522.79
  • 5 Days on Market
  • MLS # : OC21036416
  • Updated Date : 03/03/2021 at 08:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,865 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Come live your best life only 7 miles from Huntington Beach! This beauty warmly welcomes you with amazing curb appeal. Stroll through the arbor past the white picket fence gate into the front courtyard that features a bubbling fountain and paver patio. As you enter you will gaze upon a repurposed wood accent wall and an open kitchen that features painted cabinetry, quartz countertops accented by a decorative tile backsplash, stainless steel appliances, recessed lighting and pantry/laundry room. The living room enjoys a cozy fireplace and French doors that lead out to the backyard for ease of daily living. Three bedrooms and two bathrooms are on the main level. A spacious bonus room and half bathroom provide additional space for work, play or exercise - perfect in these current times! Create the perfect outdoor living or dining area under the covered patio in the backyard, while looking out over the sparkling pool and spa or roasting s’mores in the built-in fire pit. A large paver patio provides plenty of space for entertaining too. Close to an abundance of shopping and dining options, plus quick freeway access. Only a few blocks from Mile Square Park for more outdoor enjoyment. To see it is to love it!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)

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
 

$877,500$1,072,500$975,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$3,387
Property Tax -$959
Property Insurance -$72
Property Management Fees -$167
CASH FLOW
-$1,184

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.

$975,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.7%
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-$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$264,125

INVESTMENT

$264,125

Down Payment
$243,750
Rehab Estimate
$5,750
Closing Costs
$14,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,387

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $243,750
Loan Amount $731,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,254

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2503$3,4004$3,4005$3,695
$3,695
RENT COMPS ANALYSIS
  • 16809 Mulberry Circle Fountain Valley, CA 4
    • 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.82
    •  
  • 8311 Lambert Drive Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1962
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.73
    •  
  • 16713 Apple Street Fountain Valley, CA 2
    • 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 3
    • 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
    •  
  • 9849 Emmons Circle Fountain Valley, CA 5
    • 4 beds 1 baths ∙ 2,053 Sqft ∙ Built 1976 4 beds 1 baths ∙ 2,053 Sqft ∙ Built 1976
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $1.80
    •  
PROPERTY LISTING DETAILS
Michelle Fullbright
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21036416
Last Updated: 03/03/2021
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