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2326 Coffman Drive Tustin, CA 92782

4 Beds 3 Baths 2,600 sqft Built 1996

$1,110,000

List Price

$3,900

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $426.92
  • 121 Days on Market
  • MLS # : OC20190512
  • Updated Date : 10/29/2020 at 14:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 3 full
Listing Agent

Diamond Realty

Listing Agent's Description

Enjoy prestigious living in guard gated community of San Miguel, right across the street from the golf course. Wonderful open floor plan with vaulted ceiling. Beautiful pergo wood flooring throughout the upstairs. Huge kitchen with plenty of cabinet space, breakfast nook and island open to family room to enjoy family and friends while cooking. Formal dinning room and living room, inside laundry, Attached two car garage, One bedroom and bathroom down stairs. Nice backyard with grass area to enjoy. Upstairs loft could be used as an office, play area, study or TV room. Nice size master bedroom with a view that opens up to a large retreat. Association pool, spa and BBQ. Close to schools, parks, bike trails and Tustin Market Place.

SEE MORE

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

Neighborhood: Tustin Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k934k

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

Neighborhood: Tustin Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600380040004200Rent in $19814273

* 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
Ladera Elementary School Primary Regular 376 13 8
Pioneer Middle School Middle Regular 1,248 43 8
Arnold O. Beckman High School High Regular 2,648 94 9

Ladera Elementary School

  • Education Level: Primary
  • # of students: 376
  • # of teachers: 13
8
GreatSchools Rating

Pioneer Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 43
8
GreatSchools Rating

Arnold O. Beckman High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 94
9
GreatSchools Rating
 

$999,000$1,221,000$1,110,000

PURCHASE PRICE

$3,510$4,290$3,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,900
EXPENSES Loan Payment -$3,855
Property Tax -$1,100
Property Insurance -$90
HOA -$155
Property Management Fees -$191
CASH FLOW
-$1,492

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,110,000

PROJECTED PRICE

$3,900

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$299,900

INVESTMENT

$299,900

Down Payment
$277,500
Rehab Estimate
$5,750
Closing Costs
$16,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,855

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $277,500
Loan Amount $832,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,900

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $4,160

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,8503$3,9004$4,2005$4,500
$4,500
RENT COMPS ANALYSIS
  • 2326 Coffman Drive Tustin, CA 3
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.50
    •  
  • 12251 Pevero Tustin, CA 1
    • 4 beds 3 baths ∙ 2,554 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,554 Sqft ∙ Built 1992
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.49
    •  
  • 2428 Aquasanta Tustin, CA 2
    • 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1992
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.59
    •  
  • 12141 Lamb Drive Tustin, CA 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1995
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.62
    •  
  • 12480 Hazeltine Drive Tustin, CA 5
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1994
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.70
    •  
PROPERTY LISTING DETAILS
Myrna Diamond
Diamond Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20190512
Last Updated: 10/29/2020
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