Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

18861 Fairhaven Avenue North Tustin, CA 92705

4 Beds 3 Baths 2,876 sqft Built 1951

$999,000

List Price

$4,010

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $347.36
  • 7 Days on Market
  • MLS # : OC20252784
  • Updated Date : 12/11/2020 at 21:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,876 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group West

Listing Agent's Description

A special unique opportunity awaits the buyer who is looking to live in the main house and have a separate building that could be used for an office, workshop, studio or it could even be an ADU or mother in law quarters. This light and bright main house has 4 bedrooms and 2.5 baths. The building in front has a bedroom and a loft with newer carpeting and laminate floors in the kitchen and bathroom and along with its own separate laundry. This all sits on a 14,110 sf lot complete with 2 separate yards and a side yard. The main house kitchen has tile counters and the Family room and dining room have wood floors. The living room has a cozy fireplace and custom built book shelves and custom cabinetry. Large laundry room Sunroom off the back can be a den, a second living room, a family room with plenty of windows and French doors leading out to the back yard. First floor master bedroom suite has spacious walk in closet and a remodeled master bath with double sinks, large tub and shower. Second bathroom has decorative tile and two vanities and sinks too with a walk in shower. Two secondary bedrooms are downstairs and there is a bedroom upstairs. Half bath located off the kitchen. Two car garage with potential 3rd garage currently used for storage and a driveway that can accommodate multiple cars, RVS, boats, and trailers. The location in this North Tustin neighborhood is ideal.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Panorama Heights

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $205k1044k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Panorama Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2180020002200240026002800300032003400360038004000Rent in $16014166

* 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
Panorama Elementary School Primary Regular 414 14 9
Panorama Elementary School Middle Regular 414 14 9
El Modena High School High Regular 2,196 89 7

Panorama Elementary School

  • Education Level: Primary
  • # of students: 414
  • # of teachers: 14
9
GreatSchools Rating

Panorama Elementary School

  • Education Level: Middle
  • # of students: 414
  • # of teachers: 14
9
GreatSchools Rating

El Modena High School

  • Education Level: High
  • # of students: 2,196
  • # of teachers: 89
7
GreatSchools Rating
 

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,609$4,411$4,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,010
EXPENSES Loan Payment -$3,686
Property Tax -$984
Property Insurance -$96
Property Management Fees -$196
CASH FLOW
-$952

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.

$999,000

PROJECTED PRICE

$4,010

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$25k

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$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$8,450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,010

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $4,206

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,9953$3,9994$4,0105$4,600
$4,600
RENT COMPS ANALYSIS
  • 18861 Fairhaven Avenue North Tustin, CA 4
    • 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 1951 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $4,010
    • $1.39
    •  
  • 1171 La Limonar Road Santa Ana, CA 1
    • 5 beds 3 baths ∙ 2,745 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,745 Sqft ∙ Built 1963
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.38
    •  
  • 13591 Woodglen Drive Santa Ana, CA 2
    • 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 1967
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.45
    •  
  • 724 S Prospect Street Orange, CA 3
    • 4 beds 4 baths ∙ 2,856 Sqft ∙ Built 1960 4 beds 4 baths ∙ 2,856 Sqft ∙ Built 1960
    LEASED 08/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,999
    • $1.40
    •  
  • 12751 Panorama View North Tustin, CA 5
    • 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 1965
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $1.62
    •  
PROPERTY LISTING DETAILS
Linda Stearnsplotkin
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20252784
Last Updated: 12/11/2020
BESbswy