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20024 Clear River Lane #36 Yorba Linda, CA 92886

3 Beds 2 Baths 1,066 sqft Built 1979

$475,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $445.59
  • 4 Days on Market
  • MLS # : PW20238447
  • Updated Date : 11/12/2020 at 12:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,066 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California

Listing Agent's Description

Very desirable 3 bedroom, 2 bath home located in the beautiful Fairmont Hills Community. Walk into this move-in-ready home with upgraded flooring, open living room, and bright kitchen. Head down the hall to find 3 bedrooms, a full bath, and convenient indoor laundry room. The master bedroom located at the end with private master bath, custom built walk-in closet, and private views overlooking the garden greenbelt. In addition, this end unit location offers a large patio with views of the hills, making it a perfect place to relax, entertain, or BBQ. This wonderful community has plenty of guest parking, 2 pools/spas, playground, beautiful greenbelts, and a convenient location close to shopping, great schools, dining, and Yorba Regional Park. Bonus! HOA includes trash, cable, and internet!

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

Zip Code: 92886

ZipNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k938k

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

Zip Code: 92886

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813818

* 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
Glenknoll Elementary School Primary Regular 507 17 8
Bernardo Yorba Middle School Middle Regular 643 25 9
Esperanza High School High Regular 1,858 72 8

Glenknoll Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 17
8
GreatSchools Rating

Bernardo Yorba Middle School

  • Education Level: Middle
  • # of students: 643
  • # of teachers: 25
9
GreatSchools Rating

Esperanza High School

  • Education Level: High
  • # of students: 1,858
  • # of teachers: 72
8
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,753
Property Tax -$485
Property Insurance -$53
HOA -$345
Property Management Fees -$105
CASH FLOW
-$600

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.

$475,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $2,132

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$2,140
1$2,1402$2,5003$2,7004$2,7005$2,780
$2,780
RENT COMPS ANALYSIS
  • 20024 Clear River Lane Yorba Linda, CA 1
    • 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $2.01
    •  
  • 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
    •  
  • 5335 Via Del Jinete Yorba Linda, CA 3
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1986
    property image
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.01
    •  
  • 21141 Via Canon Yorba Linda, CA 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Eric Lambert
Exp Realty Of California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20238447
Last Updated: 11/12/2020
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