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2759 Larkspur Avenue Brea, CA 92821

4 Beds 3 Baths 2,370 sqft Built 1979

$988,800

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $417.22
  • 15 Days on Market
  • MLS # : TR21141052
  • Updated Date : 07/09/2021 at 04:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,370 sqft
  • Baths : 2 full , 1 half
Listing Agent

Advantage Real Estate

Listing Agent's Description

This charming, cul-de-sac home, is part of the highly desirable Country Hills Estates Community. The spacious interior features 4 bedrooms with 2.5 bathrooms. When entering the home, your eyes are drawn to the high ceilings and roomy layout. The formal living and dining spaces are picture-perfect for family gatherings and holiday celebrations. The sprawling kitchen and family room glimmer with natural day light from the windows and sliding glass door. The family room is spacious and yet contains a cozy fireplace making all feel at home. The kitchen has upgraded granite counter tops and cabinets, and recessed lighting creating a wonderful ambiance. A beautiful bay window over the kitchen sink presents a picturesque backyard. Once upstairs, the elegant master suite has a large bathroom, dual sinks, sizeable soaking tub, and separate walk-in shower along with ample closet space. The additional 3 bedrooms are sizeable, with excellent closet space. Enjoy a glass of lemonade in the tranquil backyard, which balances lush vegetation with easy to maintain pavers and gravel. This home is zoned within the boundaries of the Brea-Olinda School District and offers simple access to local freeways and Carbon Canyon State Route 142. This home is a must see and will not be available for long.

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MARKET HIGHLIGHTS

  • 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.
  • 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]

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

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,434
Property Tax -$987
Property Insurance -$84
HOA -$175
Property Management Fees -$172
CASH FLOW
-$1,352

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

$3,500

PROJECTED RENT

0.35%

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-$25k-$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

$204

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $3,490

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,3003$3,5004$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 2759 Larkspur Avenue Brea, CA 4
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.48
    •  
  • 114 Ambling Drive Brea, CA 1
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1981
    LEASED 06/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.37
    •  
  • 475 Kiolstad Drive Placentia, CA 2
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1966
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.59
    •  
  • 307 Bagnall Avenue Placentia, CA 3
    • 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1966
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.54
    •  
  • 845 Chicago Avenue Placentia, CA 5
    • 3 beds 3 baths ∙ 2,597 Sqft ∙ Built 1963 3 beds 3 baths ∙ 2,597 Sqft ∙ Built 1963
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.39
    •  
PROPERTY LISTING DETAILS
Sommer Shumaker
Advantage Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21141052
Last Updated: 07/09/2021
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