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229 W Pebble Creek Lane #23 Orange, CA 92865

3 Beds 3 Baths 2,091 sqft Built 2007

$729,999

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $349.11
  • 17 Days on Market
  • MLS # : IG20234969
  • Updated Date : 11/20/2020 at 17:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,091 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This home has extensive upgrades all around, laminate flooring throughout the house. Take advantage of this newer build providing high ceilings with plenty of natural light. The kitchen provides stainless steel appliances, custom built kitchen cabinets, full kitchen backsplash, granite countertops with a noticeable special touch of dark veins, a desirable design! A generous space to cook your favorite meals! You & your loved ones will enjoy gatherings around the kitchen island as it has plentiful room for stylish bar stools. During these difficult times & understanding today's families are busy it is fortunate to find a home that not only provides privacy for virtual learning, as well as, living areas to spend time together. After a long strenuous day you will enjoy being able to relax in your commodious living room!! As you make your way upstairs you will access 3 bedrooms & 2 full baths (1/2 bath on the 1st level). An oversized master bedroom awaits you with plenty of room for oversize furniture & a walk-in closet. Master bathroom has a frame less shower door providing not only a feel of relaxation but a unique style. As you walk down the hallway you’ll enjoy a spacious den area for the family, or an office. This home is surrounded by shopping centers, & freeways. Community provides, tennis court, basketball court, baseball field, & pool. You can also escape to the river trail just a few minutes away. This home provides everything needed to create endless memories!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 92865

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92865

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17223345

* 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
Fletcher Elementary School Primary Regular 376 15 5
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Fletcher Elementary School

  • Education Level: Primary
  • # of students: 376
  • # of teachers: 15
5
GreatSchools Rating

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
 

$656,999$802,999$729,999

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 -$2,693
Property Tax -$719
Property Insurance -$76
HOA -$136
Property Management Fees -$159
CASH FLOW
-$534

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.

$729,999

PROJECTED PRICE

$3,250

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.6%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$199,200

INVESTMENT

$199,200

Down Payment
$182,500
Rehab Estimate
$5,750
Closing Costs
$10,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,693

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,500
Loan Amount $547,499
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$15,080

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
  • $1.55

    LIST RENT PER SQFT
  • $3,272

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2503$3,4004$3,4005$3,400
$3,400
RENT COMPS ANALYSIS
  • 229 W Pebble Creek Lane Orange, CA 2
    • 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.55
    •  
  • 3046 N Spicewood Street Orange, CA 1
    • 3 beds 3 baths ∙ 2,084 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,084 Sqft ∙ Built 2008
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.54
    •  
  • 232 W Tulip Tree Avenue Orange, CA 3
    • 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.53
    •  
  • 3195 N Sunrise Court Orange, CA 4
    • 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2010
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.65
    •  
  • 209 W Tulip Tree Avenue Orange, CA 5
    • 4 beds 4 baths ∙ 2,212 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,212 Sqft ∙ Built 2008
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.54
    •  
PROPERTY LISTING DETAILS
Berglioth Avila
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20234969
Last Updated: 11/20/2020
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