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PROPERTY INFO
FACTS
- Single Family
- Built In 1964
- Price/Sqft : $436.24
- 6 Days on Market
- MLS # : PW21006284
- Updated Date : 01/16/2021 at 13:43
CONSTRUCTION
- Beds : 4
- Floor Size : 1,937 sqft
- Baths : 1 full
Listing Agent
Seven Gables Real Estate
Listing Agent's Description
Absolutely turnkey 4 bed, 2 bath home in a highly desirable neighborhood of East Orange! Fabulous curb appeal for this freshly painted single level home on the corner of a cul-de-sac street. Enjoy the neighborhood view from the front brick sitting area or morning coffee in the gated courtyard. The open floor plan offers a spacious living room with brick fireplace, separate family room off of the kitchen and a formal dining room. The updated kitchen features white cabinets, granite counter-tops & beautiful stainless steel appliances with gas range plus breakfast bar & informal dining area. The rear master bedroom has new carpet, ceiling fan, dual mirrored closets and attached 3/4 bath with custom tiled shower & granite topped vanity. 3 additional bedrooms are well appointed with new carpet, ceiling fans & new window blinds. The updated guest bath has a re-glazed tub with shower overhead & glass enclosure plus a beautiful vanity with granite top. The large lot provides for a spacious fenced rear yard with beautiful covered patio and plenty of grass area for outdoor play & entertaining. Central air conditioning & heating offer comfort year round. The attached 2 car garage with laundry area has convenient direct access to the home. Recent upgrades include fresh interior & exterior paint, new carpet, new window blinds, refurbished patio cover, new vinyl gates, recessed lighting & more. This gorgeous home is located close to shopping, dining, freeway access, schools & hospitals.
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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: 92869
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92869
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,620 |
| EXPENSES | Loan Payment | -$2,935 |
| Property Tax | -$831 | |
| Property Insurance | -$73 | |
| Property Management Fees | -$177 | |
|
CASH FLOW
-$396
|
||
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.
$845,000
PROJECTED PRICE
$3,620
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$229,675
LOAN DETAILS
$2,935
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $211,250 |
| Loan Amount | $633,750 |
3.33
YEARS SAVED
$23,756
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,620
LIST RENT -
$1.87
LIST RENT PER SQFT
-
$3,690
COMP ESTIMATED VALUE -
$1.91
COMP AVG. RENT PER SQFT
Comps Range
-
2728 E Dorothy Place Orange, CA 3
- 3 beds 1 baths ∙ 1,937 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,937 Sqft ∙ Built 1964
- Rent
- Rent Per SQFT
- $3,620
- $1.87
-
13102 Marshall Lane Tustin, CA 1
- 4 beds 2 baths ∙ 1,747 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,747 Sqft ∙ Built 1976
LEASED 03/23/20- Rent
- Rent Per SQFT
- $3,250
- $1.86
-
195 S Shattuck Place Orange, CA 2
- 4 beds 1 baths ∙ 1,728 Sqft ∙ Built 1977 4 beds 1 baths ∙ 1,728 Sqft ∙ Built 1977
LEASED 08/23/19- Rent
- Rent Per SQFT
- $3,395
- $1.96
-
308 S Wheeler Place Orange, CA 4
- 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1964
LEASED 06/18/20- Rent
- Rent Per SQFT
- $3,700
- $1.93
-
12681 Swidler Place Santa Ana, CA 5
- 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 1961
LEASED 05/21/20- Rent
- Rent Per SQFT
- $4,000
- $1.87
PROPERTY LISTING DETAILS
Seven Gables Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21006284
Last Updated: 01/16/2021
