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2418 E Monroe Avenue Orange, CA 92867

4 Beds 2 Baths 1,892 sqft Built 1960

$725,000

List Price

$3,360

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $383.19
  • 2 Days on Market
  • MLS # : SR20230835
  • Updated Date : 11/02/2020 at 12:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,892 sqft
  • Baths : 2 full
Listing Agent

Real Consultants

Listing Agent's Description

Fabulous location for this sparkling pool home. 4 bedrooms, 2 bathrooms, located on a beautiful tree lined street in the Presidential Neighborhood of Orange. This home has a large family room with 13+ foot ceiling, a cozy fireplace in the living room and an open kitchen/dining area. A nice bonus for this house is the easy to care for yard. Just two blocks to Gold Ribbon Award Winning Handy Elementary and one mile to Villa Park High School, a California Distinguished School. Shopping and restaurants are just blocks away and it is only two miles to Chapman University and Old Towne Orange. Outdoor enthusiasts will enjoy the Santiago Creek Trail & Bike path, just 0.5 miles away. Other nearby attractions include Disneyland (6 miles), Angel Stadium (4 miles) and Newport Beach (17 miles).

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k813k

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443604

* 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
Handy Elementary School Primary Regular 562 25 6
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Handy Elementary School

  • Education Level: Primary
  • # of students: 562
  • # of teachers: 25
6
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
 

$652,500$797,500$725,000

PURCHASE PRICE

$3,024$3,696$3,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,360
EXPENSES Loan Payment -$2,675
Property Tax -$710
Property Insurance -$72
Property Management Fees -$165
CASH FLOW
-$261

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.

$725,000

PROJECTED PRICE

$3,360

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.1%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$36,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,360

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,387

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,3603$3,4504$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 2418 E Monroe Avenue Orange, CA 2
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,360
    • $1.78
    •  
  • 2429 E Jackson Avenue Orange, CA 1
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1960
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.84
    •  
  • 1171 N California Street Orange, CA 3
    • 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1973
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.78
    •  
  • 990 N Wanda Road Orange, CA 4
    • 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 1952 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 1952
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.75
    •  
  • 1440 E Mayfair Avenue Orange, CA 5
    • 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 1955 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 1955
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.79
    •  
PROPERTY LISTING DETAILS
Tracy King
Real Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20230835
Last Updated: 11/02/2020
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