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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $428.36
- 6 Days on Market
- MLS # : OC20242323
- Updated Date : 12/05/2020 at 17:12
CONSTRUCTION
- Beds : 4
- Floor Size : 2,708 sqft
- Baths : 2 full , 1 half
Listing Agent
Luxre Realty, Inc.
Listing Agent's Description
This delightful property is a buyer’s dream home, located in the highly desirable neighborhood of Flora Vista in Forester Ranch. This 4 bedroom, 2 1/2 bath gem has a fully permitted 175 square foot addition to the family room. The family room has a large custom window (7’ X 8’), which overlooks the pool and jacuzzi. There are two doors adjacent to the custom window that give easy access to the serene backyard. The floor plan is open with wood floors throughout the living/dining room, stairs, and upstairs. The kitchen, which includes stainless steel appliances, is accented with beautiful granite counter tops and a mosaic backsplash. Some other features and upgrades include spacious bedrooms and bathrooms that have been remodeled. There is also an ADT alarm system along with upstairs central air conditioning. Location, location, location: this home is just minutes from the elementary, middle and high school. Note the low cost of HOA’s and NO Mellow-Roos taxes. Beaches, parks, hiking, restaurants and shopping are all accessable within minutes.
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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
Neighborhood: Forster Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Forster Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,290 |
| EXPENSES | Loan Payment | -$4,280 |
| Property Tax | -$981 | |
| Property Insurance | -$92 | |
| HOA | -$78 | |
| Property Management Fees | -$210 | |
|
CASH FLOW
-$1,352
|
||
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.
$1,160,000
PROJECTED PRICE
$4,290
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 5.6% |
| 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
$313,150
LOAN DETAILS
$4,280
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $290,000 |
| Loan Amount | $870,000 |
0.67
YEARS SAVED
$3,419
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,290
LIST RENT -
$1.58
LIST RENT PER SQFT
-
$4,543
COMP ESTIMATED VALUE -
$1.68
COMP AVG. RENT PER SQFT
Comps Range
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- $4,650
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LEASED 05/05/20- Rent
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- $4,900
- $1.75
PROPERTY LISTING DETAILS
Luxre Realty, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20242323
Last Updated: 12/05/2020
