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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $605.77
- 3 Days on Market
- MLS # : PW21024777
- Updated Date : 02/06/2021 at 18:18
CONSTRUCTION
- Beds : 3
- Floor Size : 1,370 sqft
- Baths : 2 full
Listing Agent
Reliance Real Estate Services
Listing Agent's Description
Oh the possibilities! This charming 3 bedroom in the heart of Orange and Villa Park border, has all the framework for a masterpiece! On an approximate 10,000 sqft lot, there’s a delicious orange tree and plenty of room to expand! Some features in this home are original, but the bones are strong! As you enter, a fireplace centered in the family room has space for family & friends. Connected to the living area is a sliding door leading to an outdoor covered area to the large backyard. The kitchen is clean, light and bright with wood flooring and newer lighting. Enjoy a dining room, an adorable breakfast bar, solid wood storage cabinets are a plus. Down the hall is a spacious storage and additional storage cabinets along with 3 bedrooms and 2 bathrooms with so much space. The Original hardwood floors are exposed with carpet throughout and the roof and water softener are newer as well. The oversized 2 car attached garage with direct access also features washer/dryer, refrigerator included. From the back bedroom, you are able to access the oversized backyard with a resurfaced Pool, large grassy area & manicured hedges & shrubs. A perfect area for entertaining and play. Make this already great house your home sweet home!!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92867
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,950 |
| EXPENSES | Loan Payment | -$2,883 |
| Property Tax | -$795 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$145 | |
|
CASH FLOW
-$931
|
||
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.
$829,900
PROJECTED PRICE
$2,950
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$225,674
LOAN DETAILS
$2,883
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $207,475 |
| Loan Amount | $622,425 |
0.67
YEARS SAVED
$1,989
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,950
LIST RENT -
$2.15
LIST RENT PER SQFT
-
$2,942
COMP ESTIMATED VALUE -
$2.15
COMP AVG. RENT PER SQFT
Comps Range
-
2232 E Brookside Avenue Orange, CA 2
- 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1962
![property image]()
- Rent
- Rent Per SQFT
- $2,950
- $2.15
-
1320 E Trenton Avenue Orange, CA 1
- 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1963
![property image]()
LEASED 06/08/20- Rent
- Rent Per SQFT
- $2,900
- $2.00
-
2223 E Wilson Avenue Orange, CA 3
- 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1961
![property image]()
LEASED 12/16/20- Rent
- Rent Per SQFT
- $3,200
- $2.16
-
1561 N Fern Street Orange, CA 4
- 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1964
![property image]()
LEASED 01/20/20- Rent
- Rent Per SQFT
- $3,250
- $2.21
-
2308 E Hoover Avenue Orange, CA 5
- 3 beds 1 baths ∙ 1,482 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,482 Sqft ∙ Built 1962
![property image]()
LEASED 10/07/20- Rent
- Rent Per SQFT
- $3,295
- $2.22
PROPERTY LISTING DETAILS
Reliance Real Estate Services
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21024777
Last Updated: 02/06/2021
