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2575 N Cottonwood Street Orange, CA 92865

3 Beds 2 Baths 1,500 sqft Built 1963

$819,000

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $546.00
  • 6 Days on Market
  • MLS # : OC21007170
  • Updated Date : 01/19/2021 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Lmb Enterprises

Listing Agent's Description

Do not miss this one! This home is everything that you've been looking for. This single-story, open floorplan is located in the most quiet and charming neighborhood. This home has been updated and redesigned with new carpet, flooring, windows, doors, paint, lights, custom landscaping, a full exterior paint job, and much, much more! All of this on an oversized 7,000 square foot lot! You will love the attractive and open floor-plan in the main living areas. The entire house feels light, bright, and open as you enjoy the kitchen, living, and dining room spaces. The three bedrooms are generously sized with new carpet, paint, and new recessed lighting. The large backyard has several spaces that are perfect for entertaining, or just enjoying the day outside. There is a great basketball court as well as a gas firepit area in the back yard. Experience the convenience of the A/C and attached 2-car garage. Close to freeways, schools, parks, restaurants, shopping, and other recreational options. Located in the Villa Park High School district! Be sure to come to visit this wonderful home while it lasts!

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 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

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
Fletcher Elementary School Primary Regular 376 15 5
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Fletcher Elementary School

  • Education Level: Primary
  • # of students: 376
  • # of teachers: 15
5
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
 

$737,100$900,900$819,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$2,845
Property Tax -$802
Property Insurance -$62
Property Management Fees -$150
CASH FLOW
-$789

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.

$819,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$222,785

INVESTMENT

$222,785

Down Payment
$204,750
Rehab Estimate
$5,750
Closing Costs
$12,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,845

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $204,750
Loan Amount $614,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $2.05

    LIST RENT PER SQFT
  • $3,191

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0703$3,2004$3,2505$3,295
$3,295
RENT COMPS ANALYSIS
  • 2575 N Cottonwood Street Orange, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $2.05
    •  
  • 2488 N Millstream Lane Orange, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1982
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.14
    •  
  • 2680 N Hartman Orange, CA 3
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1964
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.26
    •  
  • 350 E Sand Pebble Way Orange, CA 4
    • 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1975
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.01
    •  
  • 416 E Meadowbrook Avenue Orange, CA 5
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.10
    •  
PROPERTY LISTING DETAILS
Larry Birnbaum
Lmb Enterprises
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21007170
Last Updated: 01/19/2021
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