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2721 E Adams Avenue Orange, CA 92867

4 Beds 2 Baths 2,123 sqft Built 1960

$900,000

List Price

$3,850

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $423.93
  • 5 Days on Market
  • MLS # : PW21058328
  • Updated Date : 03/27/2021 at 13:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,123 sqft
  • Baths : 1 full , 1 half
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

TURNKEY Presidential Tract home with a large back yard featuring a covered patio, an avocado, lemon and orange tree. Situated in the Orange School District with award winning Villa Park Elementary, Cerro Villa Middle School and Villa Park High. The beautiful curb appeal will welcome you into this pristine 4-bedroom, 2.5-bath home that will impress. There is an expansive living room with a stack stone fireplace, a separate dining room or home office and a large family room at the back of the home. The light and bright kitchen features white cabinets, self-closing doors, granite counter tops, built-in microwave, butler’s pantry and a dining nook. Both the interior and exterior have recently been painted and upgrades include, new laminate flooring, wood stairs, shutters, double pane windows, crown molding and two updated bathrooms. Other newer items include the roof, heater and AC. This home is energy efficient, and power packed with solar panels. Centrally located to the 55/5/22 FWY, Chapman University, Orange Circle, Toll Road, and the River Trail where you can jog or ride your bike.

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
 

$810,000$990,000$900,000

PURCHASE PRICE

$3,465$4,235$3,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,850
EXPENSES Loan Payment -$3,126
Property Tax -$881
Property Insurance -$77
Property Management Fees -$189
CASH FLOW
-$423

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.

$900,000

PROJECTED PRICE

$3,850

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$244,250

INVESTMENT

$244,250

Down Payment
$225,000
Rehab Estimate
$5,750
Closing Costs
$13,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,126

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $225,000
Loan Amount $675,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$28,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,850

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $3,864

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,5003$3,8004$3,8005$3,850
$3,850
RENT COMPS ANALYSIS
  • 2721 E Adams Avenue Orange, CA 5
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.81
    •  
  • 2429 E Jackson Avenue Orange, CA 1
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1960
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.84
    •  
  • 990 N Wanda Road Orange, CA 2
    • 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 1952 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 1952
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.75
    •  
  • 2335 E Trenton Ave Orange, CA 3
    • 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 1963
    property image
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.80
    •  
  • 1440 E Mayfair Avenue Orange, CA 4
    • 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 1955 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 1955
    property image
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.89
    •  
PROPERTY LISTING DETAILS
Donna Garrett
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21058328
Last Updated: 03/27/2021
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