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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $412.89
- 3 Days on Market
- MLS # : PW20235913
- Updated Date : 12/11/2020 at 16:36
CONSTRUCTION
- Beds : 3
- Floor Size : 2,204 sqft
- Baths : 2 full , 1 half
Listing Agent
Seven Gables Real Estate
Listing Agent's Description
Located in the sought-after Meredith Terrace community, sits this charming tri-level pool home on an oversized lot. Welcomed by a well-manicured lawn, you enter through double doors into a light, bright and airy 3 bedroom and 2.5 bathroom home. The spacious living room features a large, picturesque window pulling in plenty of natural light and flows seamlessly into the dining room with an additional large window showcasing garden views. With a cozy breakfast nook, the immaculate kitchen is perfect for preparing meals with ample counterspace. Boasting with space, the family room is perfect for gatherings and features a cozy fireplace. Three bedrooms and a full-size bathroom upstairs, including the Master Retreat with an oversized walk-in closet and en suite, offers an ideal layout for comfortable living or work from home opportunities. The large, private, lush backyard features a gorgeous pool and spa which creates the perfect place to entertain family and friends. This wonderful home is situated on a quiet, tree-lined cul-de-sac and centrally located to the best Tustin Schools (Foothill High School) and freeways. Original owner meticulously maintained this beautiful home. This one is bound to go quickly so schedule a showing today!
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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: Meredith Parkwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Meredith Parkwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,310 |
| EXPENSES | Loan Payment | -$3,357 |
| Property Tax | -$974 | |
| Property Insurance | -$80 | |
| Property Management Fees | -$162 | |
|
CASH FLOW
-$1,264
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$910,000
PROJECTED PRICE
$3,310
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 11.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| 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
$246,900
LOAN DETAILS
$3,357
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $227,500 |
| Loan Amount | $682,500 |
0.25
YEARS SAVED
$503
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,310
LIST RENT -
$1.5
LIST RENT PER SQFT
-
$3,334
COMP ESTIMATED VALUE -
$1.51
COMP AVG. RENT PER SQFT
Comps Range
-
1914 E Avalon Avenue Santa Ana, CA 5
- 3 beds 3 baths ∙ 2,204 Sqft ∙ Built 1965 3 beds 3 baths ∙ 2,204 Sqft ∙ Built 1965
- Rent
- Rent Per SQFT
- $3,310
- $1.50
-
2210 N Linwood Avenue Santa Ana, CA 1
- 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1965
LEASED 03/20/20- Rent
- Rent Per SQFT
- $2,900
- $1.46
-
1210 Joana Drive Santa Ana, CA 2
- 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 1968
LEASED 08/30/20- Rent
- Rent Per SQFT
- $3,200
- $1.59
-
2110 Millwood Street Santa Ana, CA 3
- 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1966
LEASED 11/11/20- Rent
- Rent Per SQFT
- $3,295
- $1.48
-
2025 Deodar Street Santa Ana, CA 4
- 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1963
LEASED 06/25/20- Rent
- Rent Per SQFT
- $3,300
- $1.52
PROPERTY LISTING DETAILS
Seven Gables Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20235913
Last Updated: 12/11/2020
