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PROPERTY INFO
FACTS
- Single Family
- Built In 1971
- Price/Sqft : $400.87
- 5 Days on Market
- MLS # : PW20246460
- Updated Date : 11/25/2020 at 10:07
CONSTRUCTION
- Beds : 3
- Floor Size : 1,145 sqft
- Baths : 2 full
Listing Agent
Tdn Mortgage & Property
Listing Agent's Description
Outstanding opportunity for a first time buyer or investors looking for a cash-flowing property with plenty of upside. Single-story 3 bedroom 2 bathroom condo that lives like a single family residence. Located in a prime location on a quiet, tree-lined street on the border of Santa Ana, Tustin, and Orange. Walkable to markets, restaurants, stores, and belongs to the Orange Unified School District. This condo has been upgraded with granite counter tops, new interior paint, tile flooring, and a fireplace in the large living room. Enjoy the open floor plan, sparkling community pool, spacious indoor and outdoor living areas with the added benefit of dedicated parking in the garage, assigned carport, or additional rear spaces. Property is in excellent condition and is move-in-ready. For the investors out there, this property is located in a high-rent demand area with the current stable tenant in the property for over 7 years. Please DO NOT disturb tenants, showings will be Saturday and Sunday from 1-3pm.
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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
Neighborhood: Cabrillo Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cabrillo Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,130 |
| EXPENSES | Loan Payment | -$1,694 |
| Property Tax | -$510 | |
| Property Insurance | -$55 | |
| HOA | -$337 | |
| Property Management Fees | -$104 | |
|
CASH FLOW
-$570
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$459,000
PROJECTED PRICE
$2,130
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 8.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.35% |
| 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
$127,385
LOAN DETAILS
$1,694
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $114,750 |
| Loan Amount | $344,250 |
0.5
YEARS SAVED
$986
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,130
LIST RENT -
$1.86
LIST RENT PER SQFT
-
$2,130
COMP ESTIMATED VALUE -
$1.86
COMP AVG. RENT PER SQFT
Comps Range
-
2310 E Joana Drive Santa Ana, CA 1
- 3 beds 2 baths ∙ 1,145 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,145 Sqft ∙ Built 1971
![property image]()
- Rent
- Rent Per SQFT
- $2,130
- $1.86
-
2030 E Santa Clara Avenue Santa Ana, CA 2
- 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1963
![property image]()
LEASED 12/01/19- Rent
- Rent Per SQFT
- $2,250
- $1.75
-
924 Dayna Street Santa Ana, CA 3
- 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1958
![property image]()
LEASED 07/30/19- Rent
- Rent Per SQFT
- $2,450
- $1.87
-
17472 Via Lindo Tustin, CA 4
- 3 beds 3 baths ∙ 1,452 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,452 Sqft ∙ Built 1972
![property image]()
LEASED 08/19/20- Rent
- Rent Per SQFT
- $2,850
- $1.96
PROPERTY LISTING DETAILS
Tdn Mortgage & Property
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20246460
Last Updated: 11/25/2020
