Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2993 N Cottonwood Street #2 Orange, CA 92865

3 Beds 3 Baths 1,450 sqft Built 1974

$509,000

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1974
  • Price/Sqft : $351.03
  • 18 Days on Market
  • MLS # : PW20210565
  • Updated Date : 11/01/2020 at 11:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum Financial Services

Listing Agent's Description

Roomy town home with low HOA. Located close to the 91/55/57 freeways. Detached 2 car garage and private back yard. Kitchen remodel granite counter tops!!! Owner is ready to move. Ready to show 10/16

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

Zip Code: 92865

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92865

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17223345

* 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
Fletcher Elementary School Primary Regular 376 15 5
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Fletcher Elementary School

  • Education Level: Primary
  • # of students: 376
  • # of teachers: 15
5
GreatSchools Rating

Cerro Villa Middle School

  • Education Level: Middle
  • # of students: 1,028
  • # of teachers: 40
6
GreatSchools Rating

Villa Park High School

  • Education Level: High
  • # of students: 2,475
  • # of teachers: 89
8
GreatSchools Rating
 

$458,100$559,900$509,000

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$1,878
Property Tax -$498
Property Insurance -$61
HOA -$350
Property Management Fees -$139
CASH FLOW
-$87

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.

$509,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.6%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,635

INVESTMENT

$140,635

Down Payment
$127,250
Rehab Estimate
$5,750
Closing Costs
$7,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,250
Loan Amount $381,750
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$30,804

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $2,933

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,840
1$2,8402$3,0953$3,2004$3,2505$3,400
$3,400
RENT COMPS ANALYSIS
  • 2993 N Cottonwood Street Orange, CA 1
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $1.96
    •  
  • 3010 N Cottonwood Street Orange, CA 2
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.97
    •  
  • 4173 N Sunset Street Orange, CA 3
    • 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 1962
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.99
    •  
  • 350 E Sand Pebble Way Orange, CA 4
    • 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1975
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.01
    •  
  • 2489 N Cottonwood Street Orange, CA 5
    • 4 beds 2 baths ∙ 1,605 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,605 Sqft ∙ Built 1963
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.12
    •  
PROPERTY LISTING DETAILS
Jeffrey Connolly
Platinum Financial Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20210565
Last Updated: 11/01/2020
BESbswy