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242 Grant Lane Placentia, CA 92870

3 Beds 3 Baths 1,641 sqft Built 1998

INVESTimate

$639,000

List Price

$2,810

$2,560 - $3,060

Rent Est.

$674,401  ( +5.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $389.40
  • 2 Days on Market
  • MLS # : OC20171120
  • Updated Date : 08/25/2020 at 14:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,641 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to the private gated community of Mariposa Lane! This detached home features its own gated front patio. Entering the home you will notice the beautiful laminate hardwood flooring, high ceilings and fresh paint throughout. Spacious kitchen with white cabinets & quartz counter tops. Open concept family room, kitchen, and dining area. Direct access to a two car garage with plenty of storage. Upstairs you will enjoy the conveniently located laundry room with storage cabinets. Three generously sized bedrooms with tons of natural light and space. Master bathroom features dual sinks, large soaking tub, separate shower and large walk in closet. The backyard is perfect for relaxing or entertaining. The meticulous manicured community has a playground, private pool and a low cost HOA! Very close proximity to Placentia restaurants, shops, and award-winning schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

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
Van Buren Elementary School Primary Regular 689 24 7
Kraemer Middle School Middle Magnet 952 38 7
Valencia High School High Magnet 2,740 100 9

Van Buren Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 24
7
GreatSchools Rating

Kraemer Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 38
7
GreatSchools Rating

Valencia High School

  • Education Level: High
  • # of students: 2,740
  • # of teachers: 100
9
GreatSchools Rating
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$2,358
Property Tax -$663
Property Insurance -$67
HOA -$145
Property Management Fees -$138
CASH FLOW
-$560

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.

$639,000

PROJECTED PRICE

$2,810

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.54%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,358

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $2,855

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,810
1$2,8102$2,9003$2,9004$3,1005$3,350
$3,350
RENT COMPS ANALYSIS
  • 242 Grant Lane Placentia, 1
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $1.71
    •  
  • 1770 Pierce Lane Placentia, 2
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.61
    •  
  • 300 Navarette Place Placentia, 3
    • 4 beds 3 baths ∙ 1,540 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,540 Sqft ∙ Built 1998
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.88
    •  
  • 1744 Hayes Court Placentia, 4
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 1998
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.71
    •  
  • 1444 Samp Lane Placentia, 5
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1998
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.76
    •  
PROPERTY LISTING DETAILS
Shaun Radcliffe
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20171120
Last Updated: 08/25/2020
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