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2678 Wayward Court Brea, CA 92821

4 Beds 3 Baths 2,403 sqft Built 1978

$850,000

List Price

$3,350

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $353.72
  • 3 Days on Market
  • MLS # : PW20239497
  • Updated Date : 11/13/2020 at 16:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,403 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Diamond

Listing Agent's Description

WELL SOUGHT AFTER COUNTRY HILLS ESTATES HOME WITH A PRIME LOCATION! Situated at the end of a cul-de-sac this corner lot home only has ONLY ONE NEIGHBOR! This home offers a spacious open floor plan with lots of natural sunlight throughout as well as vaulted ceilings in the formal living room. The kitchen features dark wood cabinetry, granite counter tops, an additional dining area and overlooks the family room. The family room has a white brick fireplace, room for a downstairs office, half bath and direct access to the backyard. Adjacent to the kitchen is the formal dining area, perfect for entertaining! On the second level is the master suite along with the 3 secondary bedrooms and a full bath with dual sink vanities. The master suite is very spacious, with a large walk-in closet, toilet room, dual sink vanity, walk-in shower and sunken tub. Other highlights of this home include recessed lighting, wood flooring, brand new AC + ducting, and fresh interior paint throughout! The backyard is complete with lush greenery that provide ample privacy, lemon trees, covered patio which is perfect for gatherings & more! Centrally located to award winning Brea schools, shopping, dining, and entertainment. Schedule your private tour today!

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

Zip Code: 92821

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92821

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
Olinda Elementary School Primary Regular 563 18 9
Olinda Elementary School Middle Regular 563 18 9
Brea-olinda High School High Regular 1,895 68 9

Olinda Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 18
9
GreatSchools Rating

Olinda Elementary School

  • Education Level: Middle
  • # of students: 563
  • # of teachers: 18
9
GreatSchools Rating

Brea-olinda High School

  • Education Level: High
  • # of students: 1,895
  • # of teachers: 68
9
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$3,136
Property Tax -$867
Property Insurance -$85
HOA -$175
Property Management Fees -$164
CASH FLOW
-$1,077

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.

$850,000

PROJECTED PRICE

$3,350

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,213

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,350

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $3,574

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3503$3,6504$3,8005$3,875
$3,875
RENT COMPS ANALYSIS
  • 2678 Wayward Court Brea, CA 2
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.39
    •  
  • 130 Cool Oak Way Brea, CA 1
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1985
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.53
    •  
  • 2134 Deer Springs Lane Brea, CA 3
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1985
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.48
    •  
  • 312 Amberwick Lane Brea, CA 4
    • 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 1971
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.40
    •  
  • 179 Bluegrass Street Brea, CA 5
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 1981
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,875
    • $1.54
    •  
PROPERTY LISTING DETAILS
Alex Horowitz
Coldwell Banker Diamond
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20239497
Last Updated: 11/13/2020
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