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1902 N Zion Street Orange, CA 92867

4 Beds 3 Baths 2,331 sqft Built 1978

$1,170,000

List Price

$4,010

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $501.93
  • 2 Days on Market
  • MLS # : PW21024949
  • Updated Date : 02/06/2021 at 17:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,331 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Charming 4 Bedroom 3 Bath Home in Highly Desired Area of the Mabury Ranch Community. A Cul-De-Sac Location is Just the Beginning of Seeing What This Home Offers. The Front Courtyard is an Ideal Place to Sit and Enjoy the Peaceful Surroundings of the Neighborhood. Double Front Entry Leads to an Open Floorplan with Custom Painted Walls throughout, Cathedral Ceilings and Crown Molding. The Living Room and Adjoining Dining Room Leaves an Abundance of Room for Entertaining. The Kitchen Features Granite Counters and a Garden Window that Brings in Natural Light from the Scenic Yard. A Multitude of Windows and French Doors in the Family Room Enhance the Ambiance of this Home. The Spacious Backyard Offers a Variety of Activities for Everyone. Whether it's Siting Under the Covered Patio, Enjoying the Pool with a Slide, an Inviting Spa and Outdoor Area for the Basketball Enthusiast. The 3 Car Garage has Built-In Shelves for Plenty of Storage. And for the Energy Conscious, it also has Seller Owned Solar Panels. The Spacious Upstairs Bedrooms All Offer Crown Molding, Ceiling Fans with Lights. The Master Bedroom is Complimented by His and Hers Closets, a Sitting Area and the Master Bath offers Double Sinks and Walk-In Shower. This Home Location allows Easy Access to Freeways, Shopping Centers and Schools. It's also in Close Proximity to Santiago Walking Trail. This Home and Area Offers a Little Something for Everyone. Take a Look to See why this home in Mabury Ranch may be the One for You!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Orange Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $260k1027k

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

Neighborhood: Orange Foothills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $18634135

* 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
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Cerro Villa Middle School

  • Education Level: Middle
  • # of students: 1,028
  • # of teachers: 40
6
GreatSchools Rating

Villa Park High School

  • Education Level: High
  • # of students: 2,475
  • # of teachers: 89
8
GreatSchools Rating
 

$1,053,000$1,287,000$1,170,000

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 -$4,064
Property Tax -$1,091
Property Insurance -$82
HOA -$62
Property Management Fees -$196
CASH FLOW
-$1,486

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.

$1,170,000

PROJECTED PRICE

$4,010

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$315,800

INVESTMENT

$315,800

Down Payment
$292,500
Rehab Estimate
$5,750
Closing Costs
$17,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,064

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $292,500
Loan Amount $877,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$564

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
  • $1.72

    LIST RENT PER SQFT
  • $4,009

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,0103$4,2004$4,2005$4,200
$4,200
RENT COMPS ANALYSIS
  • 1902 N Zion Street Orange, CA 2
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $4,010
    • $1.72
    •  
  • 1982 N Mammoth Circle Orange, CA 1
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1981
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.71
    •  
  • 5915 E Bunker Hill Avenue Orange, CA 3
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1976
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.66
    •  
  • 5928 E Bunker Hill Avenue Orange Park Acres, CA 4
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1977
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.87
    •  
  • 5638 E Elsinore Ave Orange, CA 5
    • 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 1985
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.64
    •  
PROPERTY LISTING DETAILS
Irving Schwartz
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21024949
Last Updated: 02/06/2021
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