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2245 Studio Drive Brea, CA 92821

3 Beds 3 Baths 1,817 sqft Built 2001

$840,000

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $462.30
  • 6 Days on Market
  • MLS # : OC21060324
  • Updated Date : 03/24/2021 at 12:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,817 sqft
  • Baths : 2 full , 1 half
Listing Agent

Omar Khalil, Broker

Listing Agent's Description

LOOK NO FURTHER! You have found your NEW HOME! This lovely 3-bedroom, 2-1/2 bathroom home has been recently upgraded/remodeled. The kitchen has upgraded maple cabinets, custom granite counters with full backsplash. All stainless steel appliances. The home has beautiful newly installed Luxury Vinyl Planks throughout. A great feel and energy throughout the home. Located in the highly desired Artisan Walk community, which rarely comes on the market. Private yard, great for entertaining. Community amenities include swimming pool. Award winning schools near by. Short distance to amazing local shopping and entertainment. This home is a must see! Will go fast!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Zip Code: 92821

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92821

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
Tuffree Middle School Middle Regular 727 27 8
El Dorado High School High Regular 1,904 73 8

Tuffree Middle School

  • Education Level: Middle
  • # of students: 727
  • # of teachers: 27
8
GreatSchools Rating

El Dorado High School

  • Education Level: High
  • # of students: 1,904
  • # of teachers: 73
8
GreatSchools Rating
 

$756,000$924,000$840,000

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 -$2,918
Property Tax -$832
Property Insurance -$71
HOA -$120
Property Management Fees -$155
CASH FLOW
-$926

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.

$840,000

PROJECTED PRICE

$3,170

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$228,350

INVESTMENT

$228,350

Down Payment
$210,000
Rehab Estimate
$5,750
Closing Costs
$12,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,918

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $210,000
Loan Amount $630,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,027

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
  • $1.74

    LIST RENT PER SQFT
  • $3,366

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,1503$3,1704$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 2245 Studio Drive Brea, CA 3
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $1.74
    •  
  • 2126 Deer Springs Lane Brea, CA 1
    • 3 beds 3 baths ∙ 1,533 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,533 Sqft ∙ Built 1985
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.92
    •  
  • 2800 Hickory Place Fullerton, CA 2
    • 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1988
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.81
    •  
  • 548 Aria Drive Brea, CA 4
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2000
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.93
    •  
  • 2670 E Pacific Court Brea, CA 5
    • 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2010
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.75
    •  
PROPERTY LISTING DETAILS
Omar Khalil
Omar Khalil, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21060324
Last Updated: 03/24/2021
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