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2858 Cox Tustin, CA 92782

5 Beds 3 Baths 2,526 sqft Built 1994

$1,175,000

List Price

$4,050

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $465.16
  • 5 Days on Market
  • MLS # : CV21024923
  • Updated Date : 02/10/2021 at 21:43
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,526 sqft
  • Baths : 3 full
Listing Agent

Lyons & Associates

Listing Agent's Description

Located on an Interior Cul-De-Sac Street Within the Serrano Community, 2858 Cox is a Must See Tustin Ranch Home! This Beautiful Home showcases Five Bedrooms, Three Bathrooms (One Bedroom & Full Bath are on the Main Floor), Remodeled Kitchen, plantation shutters and private Backyard. The Beautiful Double Door Entry Leads into the Living/Dining Room With Soaring Ceilings and lots of light from many windows. Designer Kitchen Features Granite Counters, Stainless Steel Appliances, Island with Seating, Soft-Close Drawers, Walk-In Pantry, Breakfast Nook, and Backyard Access. The Kitchen Opens to the Family Room Which Enjoys a Cozy Fireplace, hardwood floors throughout the first floor and backyard views. The Large Master Suite Enjoys hardwood floors, dual vanities, Freestanding tub, Walk-In Shower, and Walk-In Closet. Indoor Laundry Room with Built-In Cabinets. Attached Three Car Garage with Direct Access. Highly Sought-After Tustin Ranch Schools (Peters Canyon Elementary, Pioneer Middle, Beckman High). Minutes Away from Tustin Ranch Golf Course, Irvine/Tustin Market Place, Pioneer Road Park, and Peters Canyon/Irvine Regional Parks with Hiking and Biking Trails. Quick Access to the 5/55 Freeways and 241/261/133 Toll Roads. 2858 Cox is a Must See! (NOTE: Please overlook the boxes; seller is moving soon)

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

Neighborhood: Tustin Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k934k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Tustin Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600380040004200Rent in $19814273

* 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
Peters Canyon Elementary School Primary Regular 549 18 10
Pioneer Middle School Middle Regular 1,248 43 8
Arnold O. Beckman High School High Regular 2,648 94 9

Peters Canyon Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 18
10
GreatSchools Rating

Pioneer Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 43
8
GreatSchools Rating

Arnold O. Beckman High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 94
9
GreatSchools Rating
 

$1,057,500$1,292,500$1,175,000

PURCHASE PRICE

$3,645$4,455$4,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,050
EXPENSES Loan Payment -$4,081
Property Tax -$1,082
Property Insurance -$88
HOA -$90
Property Management Fees -$198
CASH FLOW
-$1,490

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.

$1,175,000

PROJECTED PRICE

$4,050

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$317,125

INVESTMENT

$317,125

Down Payment
$293,750
Rehab Estimate
$5,750
Closing Costs
$17,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $293,750
Loan Amount $881,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,050

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $4,042

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$4,0503$4,2004$4,3005$4,500
$4,500
RENT COMPS ANALYSIS
  • 2858 Cox Tustin, CA 2
    • 5 beds 3 baths ∙ 2,526 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,526 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.60
    •  
  • 11595 Goetting Avenue Tustin, CA 1
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2000
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.50
    •  
  • 75 Briar Lane Irvine, CA 3
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1999
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.62
    •  
  • 11010 Hiskey Lane Tustin, CA 4
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 1997
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.59
    •  
  • 10985 Hiskey Lane Tustin, CA 5
    • 5 beds 3 baths ∙ 2,663 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,663 Sqft ∙ Built 1997
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.69
    •  
PROPERTY LISTING DETAILS
Clarissa Kayser
Lyons & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21024923
Last Updated: 02/10/2021
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