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2912 E Coalinga Drive Brea, CA 92821

4 Beds 3 Baths 2,198 sqft Built 2012

$948,000

List Price

$3,940

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $431.30
  • 3 Days on Market
  • MLS # : CV20250444
  • Updated Date : 12/18/2020 at 10:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,198 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Marty Rodriguez

Listing Agent's Description

The pristine Blackstone Community of Brea presents this lovely home, awaiting a lucky new owner. From its desirable floor plan and relaxing outdoor patio to its spectacular views and HOA amenities, this house will make you feel right at home. Let’s take a look inside! As soon as you enter the home, you are greeted with a bright and welcoming floor plan. The spacious living and dining areas boast tile flooring, LED recessed lighting, surround sound speakers, fireplace, and sliding glass doors opening to the patio and offering a city view. Enjoy cooking and sharing meals in your new kitchen, featuring a large center island, granite counter tops, and stainless-steel appliances. Downstairs is complete with a ½ guest bathroom and coat closet for storage. Upstairs welcomes you with an entertaining loft, great for movie nights and hosting family and friends. The master bedroom features a beautiful view of the city and a private master bathroom with a dual-sink vanity, granite countertops, separate tub + shower, and mirrored closet doors with a walk-in closet. The 2nd level is complete with 3 secondary bedrooms, full bathroom, and laundry room. Get ready to lounge and relax after a long day under the lattice covered patio in the backyard, overlooking city lights. The Blackstone HOA offers great amenities, including a pool, spa, BBQ area, picnic area and playground. Your chance to own this home is here! Give our team a call today and be the first to schedule a private home tour.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Blackstone

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $272k1023k

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

Neighborhood: Blackstone

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800400042004400Rent in $18724482

* 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
Olinda Elementary School Primary Regular 563 18 9
Olinda Elementary School Middle Regular 563 18 9
Brea-olinda High School High Regular 1,895 68 9

Olinda Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 18
9
GreatSchools Rating

Olinda Elementary School

  • Education Level: Middle
  • # of students: 563
  • # of teachers: 18
9
GreatSchools Rating

Brea-olinda High School

  • Education Level: High
  • # of students: 1,895
  • # of teachers: 68
9
GreatSchools Rating
 

$853,200$1,042,800$948,000

PURCHASE PRICE

$3,546$4,334$3,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,940
EXPENSES Loan Payment -$3,498
Property Tax -$975
Property Insurance -$80
HOA -$276
Property Management Fees -$193
CASH FLOW
-$1,082

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.

$948,000

PROJECTED PRICE

$3,940

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$256,970

INVESTMENT

$256,970

Down Payment
$237,000
Rehab Estimate
$5,750
Closing Costs
$14,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,498

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,000
Loan Amount $711,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,940

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $3,929

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$3,7004$3,8005$3,940
$3,940
RENT COMPS ANALYSIS
  • 2912 E Coalinga Drive Brea, CA 5
    • 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $3,940
    • $1.79
    •  
  • 2670 E Pacific Court Brea, CA 1
    • 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2010
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.75
    •  
  • 3073 E Coalinga Drive Brea, CA 2
    • 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2013
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.75
    •  
  • 3132 E Piru Lane Brea, CA 3
    • 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2013
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.80
    •  
  • 2856 E Coalinga Drive Brea, CA 4
    • 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2011
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.85
    •  
PROPERTY LISTING DETAILS
Marty Rodriguez
Century 21 Marty Rodriguez
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20250444
Last Updated: 12/18/2020
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