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2032 Burnt Mill Road Tustin, CA 92782

4 Beds 3 Baths 2,689 sqft Built 1989

$1,175,000

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $436.97
  • 3 Days on Market
  • MLS # : OC21043950
  • Updated Date : 03/06/2021 at 12:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,689 sqft
  • Baths : 3 full
Listing Agent

Alta Realty Group Ca, Inc

Listing Agent's Description

Welcome to this Gorgeous home. Your first step into this home you'll notice the soaring ceilings and abundance of light. The spacious kitchen provides ample counter space storage and room for eat-in kitchen. The adjoining family room with fireplace and wonderful view of your private outdoor space. The downstairs guest room/office is a perfect spot for your visitors. On the second floor, double doors lead to a huge master bedroom & private bathroom. The master bath features separate shower & tub, double sinks and large walk in closet. Upstairs you will find two additional bedrooms and another full bath and double sinks, Other highlights include laundry room and 3 car garage. The beautiful backyard space has a covered patio, mature palm trees and a dog run. This great family home is close to shopping, dining, schools and freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Tustin

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k745k

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

Neighborhood: Tustin

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443366

* 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
Tustin Ranch Elementary School Primary Regular 679 23 7
Pioneer Middle School Middle Regular 1,248 43 8
Arnold O. Beckman High School High Regular 2,648 94 9

Tustin Ranch Elementary School

  • Education Level: Primary
  • # of students: 679
  • # of teachers: 23
7
GreatSchools Rating

Pioneer Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 43
8
GreatSchools Rating

Arnold O. Beckman High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 94
9
GreatSchools Rating
 

$1,057,500$1,292,500$1,175,000

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,200
EXPENSES Loan Payment -$4,081
Property Tax -$1,168
Property Insurance -$92
HOA -$38
Property Management Fees -$206
CASH FLOW
-$1,385

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.

$1,175,000

PROJECTED PRICE

$4,200

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$317,125

INVESTMENT

$317,125

Down Payment
$293,750
Rehab Estimate
$5,750
Closing Costs
$17,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $293,750
Loan Amount $881,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,200

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $4,323

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,8003$4,0004$4,2005$4,225
$4,225
RENT COMPS ANALYSIS
  • 2032 Burnt Mill Road Tustin, CA 4
    • 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.56
    •  
  • 13271 Montecito Tustin, CA 1
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 1989
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.53
    •  
  • 13441 Montecito Tustin, CA 2
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1989
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.57
    •  
  • 13372 Portal Tustin, CA 3
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 1988
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.62
    •  
  • 13331 Portal Tustin, CA 5
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 1990
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,225
    • $1.71
    •  
PROPERTY LISTING DETAILS
Joni Alexis
Alta Realty Group Ca, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21043950
Last Updated: 03/06/2021
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