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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $492.97
- 5 Days on Market
- MLS # : SW21012700
- Updated Date : 01/20/2021 at 13:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,095 sqft
- Baths : 2 full
Listing Agent
Listed Simply
Listing Agent's Description
Top of Fairmont Hill with a beautiful view. A single-story condominium home with 3 bedrooms, 2 bathrooms and two patios. It’s fully and gorgeously upgraded, completely renovated, and modernized. Turnkey starter home or downsize from a large home, available today but who knows for how long? This home is located on the top of the beautiful sought-after Fairmont Hill community surrounded by pretty hills and trees for that country living feel. Walk into this upgraded home and see the brand new, water proof and low-maintenance, state of the art vinyl plank floors of the open living room, dining, recessed lighting, crystal chandelier, custom baseboards, crown molding, inside laundry room, and luxury upgraded kitchen. In the kitchen, you will love the custom designed brand-new white kitchen cabinets (lots of them), quartz countertop, custom tile backsplash, and brand name stainless-steel appliances. Both bathrooms have been fully modernized with new baths to quartz vanities. The bedrooms are inviting and have ceiling fans in each room. An energy efficient brand-new air conditioner unit with central heating and A/C is going to keep you comfortable. This corner unit has two big private patios with one patio facing the gorgeous view of Anaheim hills. Fairmont Hill community has a ton of guest parking and is a short walk to the 2 pools/spas, a handball court, Tennis court, children's playground and beautiful greenbelts.
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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
Zip Code: 92886
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92886
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,400 |
| EXPENSES | Loan Payment | -$1,875 |
| Property Tax | -$551 | |
| Property Insurance | -$54 | |
| HOA | -$335 | |
| Property Management Fees | -$118 | |
|
CASH FLOW
-$532
|
||
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.
$539,800
PROJECTED PRICE
$2,400
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.5% |
| 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
$148,797
LOAN DETAILS
$1,875
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $134,950 |
| Loan Amount | $404,850 |
0.67
YEARS SAVED
$1,395
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,400
LIST RENT -
$2.19
LIST RENT PER SQFT
-
$2,190
COMP ESTIMATED VALUE -
$2
COMP AVG. RENT PER SQFT
Comps Range
-
19956 Ridge Manor Way Yorba Linda, CA 1
- 3 beds 2 baths ∙ 1,095 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,095 Sqft ∙ Built 1979
![property image]()
- Rent
- Rent Per SQFT
- $2,400
- $2.19
-
6628 Kameha Circle Yorba Linda, CA 2
- 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964
![property image]()
LEASED 10/04/19- Rent
- Rent Per SQFT
- $2,500
- $2.00
-
21141 Via Canon Yorba Linda, CA 3
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1978
![property image]()
LEASED 12/11/19- Rent
- Rent Per SQFT
- $2,700
- $2.00
-
5823 E Camino Pinzon Anaheim Hills, CA 4
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1974
![property image]()
LEASED 03/27/20- Rent
- Rent Per SQFT
- $2,780
- $1.99
-
5602 Brookhill Drive Yorba Linda, CA 5
- 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1969
![property image]()
LEASED 08/22/19- Rent
- Rent Per SQFT
- $2,900
- $2.01
PROPERTY LISTING DETAILS
Listed Simply
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21012700
Last Updated: 01/20/2021
