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2211 E Orange Grove Avenue Orange, CA 92867

4 Beds 2 Baths 1,234 sqft Built 1958

$729,900

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $591.49
  • 5 Days on Market
  • MLS # : PW21031206
  • Updated Date : 02/17/2021 at 13:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,234 sqft
  • Baths : 2 full
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

Welcome to this delightful single story home, where charm and character abounds! Situated on a generous corner lot, a mature shade tree and meandering brick pathway creates a welcoming first impression. Once you enter into this home that has been freshly updated throughout, you will appreciate the updated warm feeling that makes it home. Soothing neutral wall tones throughout, the spacious living room enjoys double French doors that lead out to a large screened in covered patio that reminds you of Southern living. The newly remodeled kitchen boasts gleaming granite countertops and bright white shaker cabinetry, with convenient laundry and a casual dining niche just steps away. Hallway leads to four bedrooms and two bathrooms. Desirable upgrades include raised panel doors, energy efficient vinyl windows, cooling ceiling fans, and rich plantation shutters. The covered patio is ideal for relaxation and where you will want to spend most of your time looking out at the sprawling grassy lawn. Backyard is privately fenced, with direct access to the two car garage and even a matching storage shed awaits. Great location with quick access to the 55 freeway and plenty of restaurants. This home is affordably priced and move-in ready! Call today for your private showing!

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

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
Yorba Middle School Middle Regular 582 26 5
Orange High School High Regular 1,927 79 4
Orange High School High Unknown NA

Yorba Middle School

  • Education Level: Middle
  • # of students: 582
  • # of teachers: 26
5
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$656,910$802,890$729,900

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$2,535
Property Tax -$715
Property Insurance -$56
Property Management Fees -$155
CASH FLOW
-$291

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.

$729,900

PROJECTED PRICE

$3,170

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$199,174

INVESTMENT

$199,174

Down Payment
$182,475
Rehab Estimate
$5,750
Closing Costs
$10,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,535

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,475
Loan Amount $547,425
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$26,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $2.57

    LIST RENT PER SQFT
  • $3,119

    COMP ESTIMATED VALUE
  • $2.53

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1703$3,2004$3,5505$3,600
$3,600
RENT COMPS ANALYSIS
  • 2211 E Orange Grove Avenue Orange, CA 2
    • 4 beds 2 baths ∙ 1,234 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,234 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $2.57
    •  
  • 166 N California Street Orange, CA 1
    • 3 beds 1 baths ∙ 1,293 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,293 Sqft ∙ Built 1953
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.40
    •  
  • 1431 E Maple Avenue Orange, CA 3
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1954
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.51
    •  
  • 2516 E Monroe Avenue Orange, CA 4
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1959
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $2.58
    •  
  • 1239 E Lomita Avenue Orange, CA 5
    • 4 beds 2 baths ∙ 1,373 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,373 Sqft ∙ Built 1957
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.62
    •  
PROPERTY LISTING DETAILS
Carole Geronsin
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21031206
Last Updated: 02/17/2021
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