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2475 N Canal Street Orange, CA 92865

4 Beds 4 Baths 2,713 sqft Built 1960

$1,075,000

List Price

$3,850

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $396.24
  • 2 Days on Market
  • MLS # : PW20230016
  • Updated Date : 11/02/2020 at 13:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,713 sqft
  • Baths : 4 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Nestled on an ENOURMOUS, NEIGHBOR FREE, lot sits this charming ranch style home with 4-bedrooms and 4-bathrooms. Upon arriving, you are welcomed by a well-maintained lawn and a large driveway providing ample parking. Once opening the front door, you are welcomed into a light, bright and airy home displaying large windows throughout that pull in plenty of natural light. This house is an entertainer’s delight featuring a large, spacious open floor plan. The family room showcases a built-in bar area and a cozy fireplace creating a perfect place to relax. Make memorable meals in the large kitchen that also offers ample counterspace and hardwood floors that flow into the dining room. The oversized, lush backyard creates the perfect place to entertain family and friends and offers potential to add a pool. Additional features include smooth ceilings, recessed lighting and hardwood floors. With ease of access to schools, freeways, shopping, entertainment and restaurants, this house offers a variety of features that anyone would love! This beautiful home is bound to go quickly! –Call to schedule an appointment today BEDS: 4 BATHS: 4 SQFT: 2700 plus

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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: 92865

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92865

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17223345

* 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
Taft Elementary School Primary Regular 579 18 3
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Taft Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 18
3
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
 

$967,500$1,182,500$1,075,000

PURCHASE PRICE

$3,465$4,235$3,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,850
EXPENSES Loan Payment -$3,966
Property Tax -$996
Property Insurance -$91
Property Management Fees -$189
CASH FLOW
-$1,392

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.

$1,075,000

PROJECTED PRICE

$3,850

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.6%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$290,625

INVESTMENT

$290,625

Down Payment
$268,750
Rehab Estimate
$5,750
Closing Costs
$16,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,966

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $268,750
Loan Amount $806,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,850

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $3,825

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,7003$3,8004$3,8005$3,850
$3,850
RENT COMPS ANALYSIS
  • 2475 N Canal Street Orange, CA 5
    • 4 beds 4 baths ∙ 2,713 Sqft ∙ Built 1960 4 beds 4 baths ∙ 2,713 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.42
    •  
  • 1867 N Hart Street Orange, CA 1
    • 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 1964 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 1964
    property image
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.42
    •  
  • 1760 N Maplewood Street Orange, CA 2
    • 5 beds 3 baths ∙ 2,873 Sqft ∙ Built 1966 5 beds 3 baths ∙ 2,873 Sqft ∙ Built 1966
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.29
    •  
  • 1857 N Hart Street Orange, CA 3
    • 4 beds 4 baths ∙ 2,803 Sqft ∙ Built 1965 4 beds 4 baths ∙ 2,803 Sqft ∙ Built 1965
    property image
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.36
    •  
  • 2038 N Greengrove Street Orange, CA 4
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 1964
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.57
    •  
PROPERTY LISTING DETAILS
Angel Nicanor
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20230016
Last Updated: 11/02/2020
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