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PROPERTY INFO
FACTS
- Single Family
- Built In 1963
- Price/Sqft : $516.32
- 1 Days on Market
- MLS # : OC21125343
- Updated Date : 07/13/2021 at 08:07
CONSTRUCTION
- Beds : 4
- Floor Size : 1,869 sqft
- Baths : 2 full
Listing Agent
Patrick Bailey, Broker
Listing Agent's Description
This spacious single story home with plenty of natural light is located in the Talbert subdivision. It boasts 4 bedrooms, 2 full baths, living room with fireplace, casual dining area and a bonus room. The spacious living room fills with natural light and the fireplace makes for a comforting environment. The kitchen penninsula has space for barstool seating which is open to the dining area. Located adjacent to the dining area, the bonus room has served many purposes to the current owner over the years, including playroom, hobby and bedroom. The home has new paint and carpet throughout and Dual paned windows in nearly all rooms. The large backyard, spacious patio and charming garden make for great entertaining and additional storage can also be found on the side yard.
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MARKET HIGHLIGHTS
- 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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Fountain Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fountain Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,470 |
| EXPENSES | Loan Payment | -$3,352 |
| Property Tax | -$949 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$170 | |
|
CASH FLOW
-$1,073
|
||
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.
$965,000
PROJECTED PRICE
$3,470
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$261,475
LOAN DETAILS
$3,352
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $241,250 |
| Loan Amount | $723,750 |
0.67
YEARS SAVED
$2,449
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 -
$1.86
LIST RENT PER SQFT
-
$3,593
COMP ESTIMATED VALUE -
$1.92
COMP AVG. RENT PER SQFT
Comps Range
-
17367 Ash Street Fountain Valley, CA 1
- 4 beds 2 baths ∙ 1,869 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,869 Sqft ∙ Built 1963
- Rent
- Rent Per SQFT
- $3,470
- $1.86
-
8576 White Fish Circle Fountain Valley, CA 2
- 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 1975
LEASED 07/09/21- Rent
- Rent Per SQFT
- $3,500
- $1.94
-
18096 S 3rd Street Fountain Valley, CA 3
- 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 1975
LEASED 08/14/20- Rent
- Rent Per SQFT
- $3,600
- $1.86
-
17353 Elm Street Fountain Valley, CA 4
- 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 1964
LEASED 07/23/20- Rent
- Rent Per SQFT
- $3,995
- $1.92
-
9434 Gardenia Avenue Fountain Valley, CA 5
- 4 beds 3 baths ∙ 2,029 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,029 Sqft ∙ Built 1965
LEASED 03/12/21- Rent
- Rent Per SQFT
- $3,995
- $1.97
PROPERTY LISTING DETAILS
Patrick Bailey, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21125343
Last Updated: 07/13/2021
