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2704 Sorrel Street Brea, CA 92821

4 Beds 3 Baths 2,918 sqft Built 1979

$988,800

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $338.86
  • 4 Days on Market
  • MLS # : WS21023528
  • Updated Date : 02/11/2021 at 20:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,918 sqft
  • Baths : 3 full
Listing Agent

Pinnacle Real Estate Group

Listing Agent's Description

Situated on a corner lot, at the end of cul-de-sac. This home is located in the well-sought after Country Hills Estate of Brea. It has 4 bedrooms, 3 bathrooms, plus a Study room on the main floor, could be converted to a 5th bedroom if needed. Approximately 2,918 square feet of living space with plenty of charm and curb appeal! Hardware flooring throughout the house. The house is facing North, and the entry door is on the West side of the house. Lots of privacy. Walking distance to the club house. Easy access to freeway, school, restaurants and shops.

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
Brea Junior High School Middle Regular 891 32 8
Brea-olinda High School High Regular 1,895 68 9

Brea Junior High School

  • Education Level: Middle
  • # of students: 891
  • # of teachers: 32
8
GreatSchools Rating

Brea-olinda High School

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

$889,920$1,087,680$988,800

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$3,434
Property Tax -$987
Property Insurance -$97
HOA -$175
Property Management Fees -$176
CASH FLOW
-$1,280

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.

$988,800

PROJECTED PRICE

$3,590

PROJECTED RENT

0.36%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$267,782

INVESTMENT

$267,782

Down Payment
$247,200
Rehab Estimate
$5,750
Closing Costs
$14,832

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,434

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $247,200
Loan Amount $741,600
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $3,859

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$3,390
1$3,3902$3,5003$3,5904$3,7005$3,950
$3,950
RENT COMPS ANALYSIS
  • 2704 Sorrel Street Brea, CA 3
    • 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $1.23
    •  
  • 2025 Tweed Street Placentia, CA 1
    • 5 beds 3 baths ∙ 2,572 Sqft ∙ Built 1966 5 beds 3 baths ∙ 2,572 Sqft ∙ Built 1966
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $1.32
    •  
  • 902 Forbes Drive Brea, CA 2
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1987
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.29
    •  
  • 802 Forbes Drive Brea, CA 4
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1988
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.36
    •  
  • 2914 Primrose Avenue Brea, CA 5
    • 4 beds 3 baths ∙ 2,987 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,987 Sqft ∙ Built 1978
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.32
    •  
PROPERTY LISTING DETAILS
Roland Chua
Pinnacle Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21023528
Last Updated: 02/11/2021
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