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2639 E Hillcrest Orange, CA 92867

4 Beds 2 Baths 2,721 sqft Built 1965

$1,150,000

List Price

$4,050

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $422.64
  • 5 Days on Market
  • MLS # : PW21056939
  • Updated Date : 03/24/2021 at 14:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,721 sqft
  • Baths : 2 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

This 4 bedroom 3 bath remodeled, upgraded, and proudly maintained tri-level home is desirably located within Meredith Acres. It’s perfect for entertaining family and friends with its multi-functional, multi-generational floor plan including a bedroom and bath on the first level, and a family room with stone fireplace and “French” sliders to the sparkling pool and backyard. A beautifully remodeled kitchen, complete with a Dacor 6-burner stove and two convection ovens, separate pantry, and charming nook overlooking the backyard, leads to the hardwood floors of the generously sized dining room and spacious front garden view living room. Upstairs, the luxurious master suite, also with hard wood floors, contains a huge walk-in closet and a master bath, beautifully remodeled with walk-in shower, double sinks, and separate commode. There are two additional bedrooms on the upper floor that share a remodeled bath. Laundry facilities are on the first level and there is a 3-car garage with 2 electrical garage door openers. The quiet backyard features an inviting oversize black bottom pool recently remodeled with 2 safety filters, perfect for laps or games, a generous patio area, a built in BBQ bar with seating, and an adjacent lawn for everyone to enjoy. Don’t miss this opportunity to live within walking distance of Ralph’s shopping center, VPHS and Orange Lutheran, Cerro Villa Middle and Serrano Elementary. Convenient to multiple shops and freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 92867

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k813k

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443604

* 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
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

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
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,645$4,455$4,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,050
EXPENSES Loan Payment -$3,994
Property Tax -$1,102
Property Insurance -$91
Property Management Fees -$198
CASH FLOW
-$1,335

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.

$1,150,000

PROJECTED PRICE

$4,050

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.1%
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-$20k-$10k$0.0$10k$20k

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$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,994

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$2,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,050

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $4,401

    COMP ESTIMATED VALUE
  • $1.62

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,8003$4,0504$4,5005$4,500
$4,500
RENT COMPS ANALYSIS
  • 2639 E Hillcrest Orange, CA 3
    • 4 beds 2 baths ∙ 2,721 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,721 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.49
    •  
  • 2944 E Chapel Hill Road Orange, CA 1
    • 3 beds 2 baths ∙ 2,386 Sqft ∙ Built 1965 3 beds 2 baths ∙ 2,386 Sqft ∙ Built 1965
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.51
    •  
  • 2038 N Greengrove Street Orange, CA 2
    • 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
    •  
  • 3304 E Meadowridge Road Orange, CA 4
    • 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 1978
    property image
    LEASED 03/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.70
    •  
  • 3007 E Echo Hill Way Orange, CA 5
    • 5 beds 4 baths ∙ 2,655 Sqft ∙ Built 1965 5 beds 4 baths ∙ 2,655 Sqft ∙ Built 1965
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.69
    •  
PROPERTY LISTING DETAILS
Lesslie Giacobbi
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21056939
Last Updated: 03/24/2021
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