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1698 N Chumash Street Orange, CA 92867

3 Beds 1 Baths 2,256 sqft Built 1973

$1,100,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $487.59
  • 3 Days on Market
  • MLS # : PW21021786
  • Updated Date : 02/12/2021 at 16:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,256 sqft
  • Baths : 1 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Located in a much desired neighborhood just east of Villa Park is this gorgeous, remodeled, one of a kind, traditional single story home with wonderful curb appeal. There are three bedrooms and two baths, a total of 2256 sq. ft. on a beautifully landscaped 8400 sq. ft. lot. The owners of more than 40 years have lovingly maintained this home and consistently remodeled and upgraded it. There are vaulted ceilings, hardwood floors, custom French mullioned windows and doors throughout. The entry opens to the living and dining rooms with high ceilings and mullioned French doors to the outside patio and yard. An expanded kitchen with sub-zero, custom cabinetry & pullouts is open to the enlarged family room with cozy fireplace and three walls of windows overlooking the spectacular garden with three fountains, covered patio, meticulously planted and maintained yard. A remodeled Master Suite boasts French sliders to the yard, a spacious bedroom, soaking tub, walk in shower, double vanities and a heated bathroom floor! The generous walk in closet with organizers is something everyone will appreciate. One bedroom with a bay window has been converted to an office and is easily re-converted back to a bedroom. Another bedroom is completely separate with handicapped accessibility in the remodeled bathroom—perfect for a parent or someone in need. There is an indoor laundry and three car garage. This home is simply waiting for new owners to move in and enjoy the beautiful life.

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: Villa Park

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $260k1388k

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

Neighborhood: Villa Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000420044004600Rent in $18634662

* 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
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

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
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$3,821
Property Tax -$1,083
Property Insurance -$80
Property Management Fees -$176
CASH FLOW
-$1,570

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,100,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $3,937

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,5903$4,2004$4,2005$4,300
$4,300
RENT COMPS ANALYSIS
  • 1698 N Chumash Street Orange, CA 2
    • 3 beds 1 baths ∙ 2,256 Sqft ∙ Built 1973 3 beds 1 baths ∙ 2,256 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $1.59
    •  
  • 5024 E Valencia Drive Orange, CA 1
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1972
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.61
    •  
  • 5915 E Bunker Hill Avenue Orange, CA 3
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1976
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.66
    •  
  • 5928 E Bunker Hill Avenue Orange Park Acres, CA 4
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1977
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.87
    •  
  • 1982 N Mammoth Circle Orange, CA 5
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1981
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.84
    •  
PROPERTY LISTING DETAILS
Lesslie Giacobbi
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21021786
Last Updated: 02/12/2021
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