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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $534.57
- 2 Days on Market
- MLS # : OC21045276
- Updated Date : 03/06/2021 at 20:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,403 sqft
- Baths : 2 full , 1 half
Listing Agent
American Realty Services
Listing Agent's Description
Beautiful upgraded 3 bedroom 2 ½ baths located in Tustin Field townhome. Completely remodeled throughout with a spacious family room that opens into the dining area and kitchen. Upgraded kitchen with oversized windows to backyard for plenty of natural light. Downstairs powder room and direct access 2 car garage with plenty of space for storage. Upstairs boasts 3 generous sized bedrooms. Large master bed with master bath and large walk in closet with nicely upgraded flooring and oversized windows for bright and modern feel. 2 additional upstairs bedrooms have spacious closets and a shared hall bath with 2 sinks and a nice tub. Backyard is nicely finished with upgraded tiles and fresh plants with a tall wall for privacy.
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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: Tustin Legacy
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Tustin Legacy
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,980 |
| EXPENSES | Loan Payment | -$2,605 |
| Property Tax | -$737 | |
| Property Insurance | -$61 | |
| HOA | -$220 | |
| Property Management Fees | -$146 | |
|
CASH FLOW
-$789
|
||
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.
$750,000
PROJECTED PRICE
$2,980
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.81% |
| 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
$204,500
LOAN DETAILS
$2,605
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
0.67
YEARS SAVED
$1,725
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,980
LIST RENT -
$2.12
LIST RENT PER SQFT
-
$2,971
COMP ESTIMATED VALUE -
$2.12
COMP AVG. RENT PER SQFT
Comps Range
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181 Zephyr Run Tustin, CA 2
- 3 beds 3 baths ∙ 1,403 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,403 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $2,980
- $2.12
-
208 Windy Lane Tustin, CA 1
- 3 beds 3 baths ∙ 1,354 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,354 Sqft ∙ Built 2004
LEASED 06/19/20- Rent
- Rent Per SQFT
- $2,950
- $2.18
-
62 Stratus Lane Tustin, CA 3
- 3 beds 3 baths ∙ 1,403 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,403 Sqft ∙ Built 2005
LEASED 03/09/20- Rent
- Rent Per SQFT
- $3,000
- $2.14
-
3 Del Cambrea Irvine, CA 4
- 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1994
LEASED 04/01/20- Rent
- Rent Per SQFT
- $3,100
- $2.12
-
30 Altezza Irvine, CA 5
- 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1997
LEASED 02/27/21- Rent
- Rent Per SQFT
- $3,200
- $2.03
PROPERTY LISTING DETAILS
American Realty Services
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21045276
Last Updated: 03/06/2021
