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303 N Orangecrest Avenue Azusa, CA 91702

3 Beds 2 Baths 1,180 sqft Built 1956

$549,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $465.25
  • 5 Days on Market
  • MLS # : CV20229438
  • Updated Date : 11/02/2020 at 08:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,180 sqft
  • Baths : 2 full
Listing Agent

Realty One Group West

Listing Agent's Description

Remodeled 3 Bedroom, 2 Bath on A large Corner Lot, Located in the City of Azusa! Remodel includes a New Kitchen with New Cabinets, New Quartz Counter Tops, New Recessed LED Lighting, New Tile Flooring and New Stainless-Steel Appliances. Master Bath and Hallway Bath Completely Remodeled. Additional Recessed LED Lighting in Living Room Area, and in the Den/Family Room. The Den/Family Room is Permitted and has approximately 364 Square Feet of Additional Square Footage. New Dual Pane Windows in Living Room, Bedrooms, Bathrooms and Kitchen. New Electrical wiring throughout with a New 200 Amp Electrical Panel. New Concrete Driveway. New Water Main Line from the City Meter to the Home. Home has a multi zone heating and A/C system, ductless high efficiency. All work completed with city permits. Buyer to verify.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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)
  • 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 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Azusa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $150k622k

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

Neighborhood: Azusa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13812941

* 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
Charles Lee Elementary School Primary Regular 350 17 6
Foothill Middle School Middle Regular 589 29 3
Azusa High School High Regular 1,393 65 5

Charles Lee Elementary School

  • Education Level: Primary
  • # of students: 350
  • # of teachers: 17
6
GreatSchools Rating

Foothill Middle School

  • Education Level: Middle
  • # of students: 589
  • # of teachers: 29
3
GreatSchools Rating

Azusa High School

  • Education Level: High
  • # of students: 1,393
  • # of teachers: 65
5
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$2,026
Property Tax -$579
Property Insurance -$56
Property Management Fees -$111
CASH FLOW
-$501

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$549,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$8,062

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $2,283

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,3503$2,4004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 303 N Orangecrest Avenue Azusa, CA 1
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.92
    •  
  • 18852 E Galatea Street Azusa, CA 2
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.87
    •  
  • 939 E Hollyvale Street Azusa, CA 3
    • 4 beds 2 baths ∙ 1,225 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,225 Sqft ∙ Built 1955
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.96
    •  
  • 211 S Cerritos Avenue Azusa, CA 4
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1952
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
  • 5921 Cedarglen Drive Azusa, CA 5
    • 4 beds 2 baths ∙ 1,468 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,468 Sqft ∙ Built 1955
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.91
    •  
PROPERTY LISTING DETAILS
Vena Rubalcaba
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20229438
Last Updated: 11/02/2020
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