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2637 E Denise Avenue Orange, CA 92867

3 Beds 2 Baths 1,854 sqft Built 1979

$880,000

List Price

$3,370

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $474.65
  • 4 Days on Market
  • MLS # : PW20235652
  • Updated Date : 11/12/2020 at 15:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

North Hills Realty

Listing Agent's Description

***GORGEOUS SINGLE LEVEL HOME ON A TREE LINED STREET IN THE HILLS OF ORANGE*** Fantastic Location At The Top Of The Hill On A Private Cul-De-Sac*Beautifully Remodeled W/ A Most Desirable Open Concept Floor Plan*Inviting Formal Entry W/ Travertine Flooring* Impressive Formal Living Room With High Ceilings and Exquisite Dining Room Offering Wonderful Sunset Views***Extraordinary Extended Kitchen Features Stunning White Cabinetry & Striking Black Granite Countertops and Backsplash*** HUGE Center Island Offers An Abundance Of Preparation Space & Seating, Stainless Steel Appliances Including A Wine Frig All Perfect For Entertaining***Cozy Family Room Opens To The Kitchen W/ Spectacular Black Granite Fireplace & Sliding Doors All Overlooking The Well Manicured Yard***Spacious Master Bedroom Offers Sliding Doors That Open To An Outdoor Sitting Area**Distinguished Master Bath With White Cabinetry, Granite Counters, Travertine Shower And Jet Tub*Secondary Bath With Gorgeous Custom Walk-In Travertine Shower And Decorative Glass Tile**A Well Sized Second Bedroom With Plantation Shutters***3rd Bedroom/Den Offers A Stunning White Entertainment Center & Sliding Doors That Open to A Large Side Yard Lounge Area*The Back Yard Is Perfect For Outdoor Entertaining Offering A Great Patio With An Extensive Use Of Slate Tile, Spacious Grass Area And Mature Landscaping**The 3rd Car Garage Has Been Converted To A Private Office Space***This Home Has It All & Is In The Villa Park School District!***

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

Neighborhood: Orange Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $260k1027k

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

Neighborhood: Orange Foothills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $18634135

* 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
Serrano Elementary School Primary Regular 572 19 7
Serrano Elementary School Middle Regular 572 19 7
Villa Park High School High Regular 2,475 89 8

Serrano Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 19
7
GreatSchools Rating

Serrano Elementary School

  • Education Level: Middle
  • # of students: 572
  • # of teachers: 19
7
GreatSchools Rating

Villa Park High School

  • Education Level: High
  • # of students: 2,475
  • # of teachers: 89
8
GreatSchools Rating
 

$792,000$968,000$880,000

PURCHASE PRICE

$3,033$3,707$3,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,370
EXPENSES Loan Payment -$3,247
Property Tax -$854
Property Insurance -$71
Property Management Fees -$165
CASH FLOW
-$966

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$880,000

PROJECTED PRICE

$3,370

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$238,950

INVESTMENT

$238,950

Down Payment
$220,000
Rehab Estimate
$5,750
Closing Costs
$13,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,247

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $220,000
Loan Amount $660,000
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$3,617

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,370

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,397

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$3,095
1$3,0952$3,3703$3,3954$3,5005$3,900
$3,900
RENT COMPS ANALYSIS
  • 2637 E Denise Avenue Orange, CA 2
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $3,370
    • $1.82
    •  
  • 2246 E Altura Avenue Orange, CA 1
    • 4 beds 1 baths ∙ 1,662 Sqft ∙ Built 1961 4 beds 1 baths ∙ 1,662 Sqft ∙ Built 1961
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.86
    •  
  • 2051 N Mori Lane Orange, CA 3
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1964
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.79
    •  
  • 2535 E Vista Point Drive Orange, CA 4
    • 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1987
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.83
    •  
  • 2912 N Maple Tree Dr Orange, CA 5
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 1964
    LEASED 07/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.85
    •  
PROPERTY LISTING DETAILS
Susan Lapeter
North Hills Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20235652
Last Updated: 11/12/2020
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