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17550 Chestnut Fountain Valley, CA 92708

5 Beds 3 Baths 2,147 sqft Built 1965

$1,049,000

List Price

$3,930

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $488.59
  • 5 Days on Market
  • MLS # : PV21060449
  • Updated Date : 03/27/2021 at 15:19
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,147 sqft
  • Baths : 3 full
Listing Agent

West Shores Realty, Inc.

Listing Agent's Description

Escape the busy city life by retreating to this serene 5 bedroom 3 bath 2,147 home with attached garage situated on a 7,035 square foot lot. This two-level home sits on a conveniently located and highly sought after Fountain Valley neighborhood close to freeways, shopping and dining, as well as being one block away from Fountain Valley High School. The property boasts a sizable, gated courtyard perfect for taking in sunny days. The entrance opens to a foyer leading to a spacious living room with hardwood laminate floors and fireplace providing a warm yet modern look to this open floor plan. Not to mention large sliding glass doors that peer into the backyard and allow light to pour in. Through the living room is a beautiful, open kitchen that INCLUDES range, stove and dishwasher, quartz countertops and stylish backsplash. On the main floor, you will find three spacious bedrooms and two full bathrooms. Upstairs, enjoy the extra living space complete with two additional bedrooms with vaulted ceilings, loft, full bathroom and office. Step outside to the backyard to see that the home features a large pool with a slide where you can host BBQ’s and get-togethers w/ friends and family, pick lemons and oranges from your fruit trees, and watch your loved ones play freely. Cookouts and entertaining will be a cinch. Truly an entertainers paradise. Property has a newer roof and solar panels that are owned. Come see for yourself before it flies off the market!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
Hisamatsu Tamura Elementary School Primary Regular 627 22 10
Harry C. Fulton Middle School Middle Regular 797 31 10
Fountain Valley High School High Regular 3,704 127 9

Hisamatsu Tamura Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 22
10
GreatSchools Rating

Harry C. Fulton Middle School

  • Education Level: Middle
  • # of students: 797
  • # of teachers: 31
10
GreatSchools Rating

Fountain Valley High School

  • Education Level: High
  • # of students: 3,704
  • # of teachers: 127
9
GreatSchools Rating
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$3,537$4,323$3,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,930
EXPENSES Loan Payment -$3,644
Property Tax -$1,032
Property Insurance -$79
Property Management Fees -$193
CASH FLOW
-$1,017

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.

$1,049,000

PROJECTED PRICE

$3,930

PROJECTED RENT

0.37%

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,644

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$6,474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,930

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $3,913

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$3,9303$3,9954$4,0005$4,000
$4,000
RENT COMPS ANALYSIS
  • 17550 Chestnut Fountain Valley, CA 2
    • 5 beds 3 baths ∙ 2,147 Sqft ∙ Built 1965 5 beds 3 baths ∙ 2,147 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,930
    • $1.83
    •  
  • 9735 El Durango Circle Fountain Valley, CA 1
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1972
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.72
    •  
  • 17353 Elm Street Fountain Valley, CA 3
    • 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
    •  
  • 9186 Mcelwee River Cir Fountain Valley, CA 4
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1977
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.80
    •  
  • 17973 Mount Coulter Street Fountain Valley, CA 5
    • 4 beds 2 baths ∙ 2,164 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,164 Sqft ∙ Built 1976
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.85
    •  
PROPERTY LISTING DETAILS
Richard Magana
West Shores Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV21060449
Last Updated: 03/27/2021
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