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2071 N Diamond Street Orange, CA 92867

4 Beds 2 Baths 2,047 sqft Built 1962

$925,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $451.88
  • 5 Days on Market
  • MLS # : PW21021950
  • Updated Date : 02/04/2021 at 13:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,047 sqft
  • Baths : 2 full
Listing Agent

The Associates Realty Group

Listing Agent's Description

Elegance meets comfort in this stunning, highly upgraded single story home on one of the largest lots in the neighborhood. Spectacular dream kitchen boasts granite counters, recessed, pendent, and under cabinet lighting, farmhouse sink and professional grade, double oven gas Thor range. Newer white custom shaker cabinets with soft close doors and drawers. Expansive island with an abundance of storage, prep space, and seating. Kitchen is open to Enormous dinning/great room with beautiful stone fireplace, perfect for family or large gatherings. Gorgeous, easy care, wood look tile flooring, crown molding, and recessed lighting throughout kitchen and living area. Master en suite with walk in closet. All bedrooms have original hardwood flooring. Both bathrooms have been upgraded with newer vanities, sinks, faucets and tub/shower enclosures with beautiful tile work. Huge, private, park like yard is perfect for entertaining, with built in BBQ, fire pit, covered patio, dedicated children's play area, fruit tree's (lemon, lime, tangerine, apple, peach), raised garden beds, and a large newer shed. Additional quality upgrades include, newer energy efficient HVAC, all new duct work, added insulation and a whole house fan. Smooth textured ceilings, ceiling fans, dual panned windows, and two panel doors throughout. Sought after neighborhood, walking distance to prestigious Orange Lutheran High, and all 3 highly desirable Villa Park Schools. Close to fwy, shopping, restaurants and parks.

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: 92867

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k813k

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443604

* 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
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$3,213
Property Tax -$906
Property Insurance -$75
Property Management Fees -$159
CASH FLOW
-$1,103

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.

$925,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,213

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $3,572

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,2503$3,3954$3,4005$3,800
$3,800
RENT COMPS ANALYSIS
  • 2071 N Diamond Street Orange, CA 2
    • 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.59
    •  
  • 2290 N Maplewood Street Orange, CA 1
    • 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1968
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.62
    •  
  • 2051 N Mori Lane Orange, CA 3
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1964
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.79
    •  
  • 1944 N Cambridge Street Orange, CA 4
    • 5 beds 3 baths ∙ 1,924 Sqft ∙ Built 1963 5 beds 3 baths ∙ 1,924 Sqft ∙ Built 1963
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.77
    •  
  • 2335 E Trenton Ave Orange, CA 5
    • 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 1963
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.80
    •  
PROPERTY LISTING DETAILS
Barbara Gustavsen
The Associates Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21021950
Last Updated: 02/04/2021
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