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1710 N Greengrove Street Orange, CA 92865

4 Beds 2 Baths 1,753 sqft Built 1962

$775,000

List Price

$3,470

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $442.10
  • 3 Days on Market
  • MLS # : PW20260074
  • Updated Date : 12/18/2020 at 15:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,753 sqft
  • Baths : 2 full
Listing Agent

Ricci Realty

Listing Agent's Description

Located near shopping, this corner lot is gem in a neighborhood. The home features 4 bedrooms and 2 bathrooms with ALL NEW CARPET-New Paint-Ready to move in right away. Formal dining area off of Kitchen with Breakfast Bar. Stainless Steel Appliances and Granite counters with Range Cooking. Laundry Room inside the home. Direct Access to large Finished 2 car garage. Large Living Room with Fireplace. Rear Yard is an entertainers dream with patio located off of Master Bedroom. Custom Above ground Spa. Covered Patio Area adjacent to a pool. Also includes Boat/RV parking off of Taft behind enclosed gate. This is a must see home that will not last.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Taft Elementary School Primary Regular 579 18 3
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Taft Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 18
3
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
 

$697,500$852,500$775,000

PURCHASE PRICE

$3,123$3,817$3,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$2,859
Property Tax -$759
Property Insurance -$68
Property Management Fees -$170
CASH FLOW
-$387

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

$3,470

PROJECTED RENT

0.45%

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,859

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$29,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,470

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $3,471

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,4703$3,5804$3,6955$3,700
$3,700
RENT COMPS ANALYSIS
  • 1710 N Greengrove Street Orange, CA 2
    • 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $1.98
    •  
  • 1735 N Lincoln Street Orange, CA 1
    • 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1962
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.75
    •  
  • 2727 E Brookside Avenue Orange, CA 3
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1963
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,580
    • $2.08
    •  
  • 1735 N Greengrove Street Orange, CA 4
    • 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 1962
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $2.11
    •  
  • 533 E Glendale Avenue Orange, CA 5
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1963
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.98
    •  
PROPERTY LISTING DETAILS
Jeremy Wayland
Ricci Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20260074
Last Updated: 12/18/2020
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