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PROPERTY INFO
FACTS
- Single Family
- Built In 1970
- Price/Sqft : $386.03
- 6 Days on Market
- MLS # : PW21026842
- Updated Date : 02/12/2021 at 10:14
CONSTRUCTION
- Beds : 3
- Floor Size : 1,088 sqft
- Baths : 2 full
Listing Agent
Pacific Home Brokers
Listing Agent's Description
DESCRIPTION Your new home awaits you at the Woodside Village condominium. This gated community condo is conveniently located just minutes to the popular cosmopolitan area of South Coast Metro, South Coast Plaza, Segerstrom Performing Arts Center, Metro Pointe, OC Mix and a variety of restaurants, shops and easy access to 405, 55, and 73 freeways. The ground level unit features an inviting open concept living, dining, and kitchen layout with clean white modern interior, gray porcelain ceramic tile, and complete recessed LED lighting throughout. The updated kitchen boast floor to ceiling white cabinets, quartz countertop, breakfast bar, and stainless steel appliances. Just outside of the living room, you can enjoy the outdoors or BBQ your favorite meal in your own patio area. All 3 bedrooms are ample sized with built in closets, sliding mirrored doors, crown moldings and polished travertine floors. Low HOA and association amenities; laundry, pool, spa, clubhouse, maintenance, landscaping, water, trash (all included). Other highlights include central A/C unit + furnace, built in shoe closet near the main entrance, detached storage unit, and quick access to the mailbox. One carport parking spot and one assigned parking spot also included. Whether you’re looking to become a first-time homeowner or add another solid rental property to your investment portfolio, this move in ready home could be the one for you! Connect with us today to schedule your private showing.
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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
Neighborhood: Armstrong
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Armstrong
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,330 |
| EXPENSES | Loan Payment | -$1,459 |
| Property Tax | -$445 | |
| Property Insurance | -$53 | |
| HOA | -$268 | |
| Property Management Fees | -$114 | |
|
CASH FLOW
-$9
|
||
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.
$420,000
PROJECTED PRICE
$2,330
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 8.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$117,050
LOAN DETAILS
$1,459
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $105,000 |
| Loan Amount | $315,000 |
5.5
YEARS SAVED
$25,341
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,330
LIST RENT -
$2.14
LIST RENT PER SQFT
-
$2,317
COMP ESTIMATED VALUE -
$2.13
COMP AVG. RENT PER SQFT
Comps Range
-
2501 W Sunflower Avenue Santa Ana, CA 1
- 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1970
- Rent
- Rent Per SQFT
- $2,330
- $2.14
-
2521 W Sunflower Avenue Santa Ana, CA 2
- 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1970
LEASED 02/01/21- Rent
- Rent Per SQFT
- $2,350
- $2.16
-
2505 S Laurelwood Santa Ana, CA 3
- 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1977
LEASED 02/04/20- Rent
- Rent Per SQFT
- $2,400
- $2.12
-
3431 Timber Lake Costa Mesa, CA 4
- 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1976
LEASED 08/20/19- Rent
- Rent Per SQFT
- $2,800
- $2.11
PROPERTY LISTING DETAILS
Pacific Home Brokers
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21026842
Last Updated: 02/12/2021
