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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $522.29
- 5 Days on Market
- MLS # : OC21017635
- Updated Date : 01/30/2021 at 14:41
CONSTRUCTION
- Beds : 3
- Floor Size : 1,503 sqft
- Baths : 2 full
Listing Agent
Pillar & Porch
Listing Agent's Description
Brand New REMODEL! This 3 bed, 2 bath home starts with a spacious corner lot on a cul de sac. The upgrades includes an open floor plan combining the living room, dining room and Kitchen. The new kitchen includes new, hard to find Samsung Tuscan Stainless Steel appliances, designer backsplash, white shaker cabinets and quartz countertops. Living room enjoys soaring vaulted ceiling and designer fireplace. . Brand new windows and sliders lead you to your private oasis - newly landscaped side and back patios . The vaulted master bedroom connects to generous master bath that includes dual vanity and a new designer tiled walk-in shower and also includes a walk-in closet. Guest bathroom comes with new tile walk-in shower and quartz vanity. The entire home has new 100% waterproof vinyl plank flooring throughout. Every room has been freshly painted. You'll enjoy the brightly appointed recessed ceiling lights. The 2-car garage has been comes with ample storage cabinets and even attic storage with drop down ladder. THIS NEWLY UPGRADED, GREAT FLOOR PLAN, BEAUTIFUL CORNER LOT HOME won't last long. Casta Del Sol is a 55 plus community.
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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
Neighborhood: Casta del Sol
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Casta del Sol
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $2,910 |
EXPENSES | Loan Payment | -$2,727 |
Property Tax | -$665 | |
Property Insurance | -$63 | |
HOA | -$444 | |
Property Management Fees | -$143 | |
CASH FLOW
-$1,131
|
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.
$785,000
PROJECTED PRICE
$2,910
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 4.24% |
Appreciation Year (1-5) | 5.5% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 5.38% |
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
$213,775
LOAN DETAILS
$2,727
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 3.75% |
Down Payment | $196,250 |
Loan Amount | $588,750 |
0.17
YEARS SAVED
$75
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,910
LIST RENT -
$1.94
LIST RENT PER SQFT
-
$2,905
COMP ESTIMATED VALUE -
$1.93
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Pillar & Porch
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21017635
Last Updated: 01/30/2021