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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Panorama Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$270,485
LOAN DETAILS
$3,686
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $249,750 |
| Loan Amount | $749,250 |
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
-
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
Realty One Group West
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20252784
Last Updated: 12/11/2020
