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2318 California Street Placentia, CA 92870

4 Beds 2 Baths 1,606 sqft Built 1969

$799,900

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $498.07
  • 5 Days on Market
  • MLS # : PW21045782
  • Updated Date : 03/19/2021 at 20:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,606 sqft
  • Baths : 2 full
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

Stunning single level home in highly sought after North Placentia neighborhood. Incredibly versatile open floor plan. Amazing kitchen concept with contemporary design schemes that express Southern California living at its finest. Huge island includes prep sink and bar seating. Stainless steel appliances - refrigerator, 5-burner gas range, dishwasher, microwave and range hood. Quartz counters, premium subway tile backsplash, tremendous cabinet space and double pantry with pull-out shelving. Master bedroom suite includes slider access to patio, sizable bathroom with walk-in closet, dual sink vanity and walk-in shower. Warm rich flooring with upgraded base moldings, dual pane windows with custom window treatments and casings, Central A/C & Heat, recessed LED lighting, Ring Security System, ceiling fans and gas fireplace with custom tile work and mantle. Inviting front courtyard includes sitting area and double door entry. 3 car attached garage with direct access, roll-up doors, automatic opener, workbench, shelving, washer and dryer and expansive driveway with possible RV/Toy/Trailer access. Well designed backyard with Alumawood covered patio and great interior access. A perfect space for entertaining or just relaxing. Brick planter beds, shed and block wall fencing. Award winning schools, Golden, Tuffree & El Dorado. Central to everything Orange County has to offer. Tri-City Park, Downtown Brea, Brea Mall, Angel Stadium, Honda Center, Disneyland, Knott's Berry Farm.

SEE MORE

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: 92870

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92870

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
 

$719,910$879,890$799,900

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,778
Property Tax -$851
Property Insurance -$66
Property Management Fees -$140
CASH FLOW
-$985

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.

$799,900

PROJECTED PRICE

$2,850

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.5%
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

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$217,724

INVESTMENT

$217,724

Down Payment
$199,975
Rehab Estimate
$5,750
Closing Costs
$11,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,975
Loan Amount $599,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $2,839

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,8503$3,1504$3,1505$3,300
$3,300
RENT COMPS ANALYSIS
  • 2318 California Street Placentia, CA 2
    • 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.77
    •  
  • 2307 Teton Circle Placentia, CA 1
    • 3 beds 4 baths ∙ 1,420 Sqft ∙ Built 1975 3 beds 4 baths ∙ 1,420 Sqft ∙ Built 1975
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.76
    •  
  • 1941 Harte Way Placentia, CA 3
    • 4 beds 1 baths ∙ 1,752 Sqft ∙ Built 1969 4 beds 1 baths ∙ 1,752 Sqft ∙ Built 1969
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.80
    •  
  • 1843 Mccormack Lane Placentia, CA 4
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1963
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.74
    •  
  • 2127 Kathryn Way Placentia, CA 5
    • 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1963
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.77
    •  
PROPERTY LISTING DETAILS
Denny Rockwell
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21045782
Last Updated: 03/19/2021
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