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311 N Fern Street Orange, CA 92867

4 Beds 2 Baths 1,265 sqft Built 1955

INVESTimate

$719,900

List Price

$3,090

$2,840 - $3,340

Rent Est.

$763,886  ( +6.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $569.09
  • 6 Days on Market
  • MLS # : OC20171949
  • Updated Date : 08/21/2020 at 15:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,265 sqft
  • Baths : 2 full
Listing Agent

Elite International Realtors

Listing Agent's Description

Fixer upper single family home in the city of orange. This house is single level home with nice long drive way with beautiful oasis back yard facing the trail and water stream below which makes it very private. All the windows has been replaced and outside of the house has been painted recently. Centerally located being minutes away from major freeways 57, 55, 5, 22, downtown Orange, Chapman University, shopping centers and restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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'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)
  • As part of Southern California area, Orange County 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)

PRICE & RENT TRENDS

Zip Code: 92867

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k813k

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443604

* 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
Handy Elementary School Primary Regular 562 25 6
Handy Elementary School Middle Regular 562 25 6
Orange High School High Regular 1,927 79 4

Handy Elementary School

  • Education Level: Primary
  • # of students: 562
  • # of teachers: 25
6
GreatSchools Rating

Handy Elementary School

  • Education Level: Middle
  • # of students: 562
  • # of teachers: 25
6
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$647,910$791,890$719,900

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$2,656
Property Tax -$705
Property Insurance -$57
Property Management Fees -$151
CASH FLOW
-$479

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.

$719,900

PROJECTED PRICE

$3,090

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.11%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$196,524

INVESTMENT

$196,524

Down Payment
$179,975
Rehab Estimate
$5,750
Closing Costs
$10,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,656

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $179,975
Loan Amount $539,925
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$18,650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,090

    LIST RENT
  • $2.44

    LIST RENT PER SQFT
  • $3,049

    COMP ESTIMATED VALUE
  • $2.41

    COMP AVG. RENT PER SQFT
Comps Range
$3,090
1$3,0902$3,1003$3,1004$3,3005$3,400
$3,400
RENT COMPS ANALYSIS
  • 311 N Fern Street Orange, 1
    • 4 beds 2 baths ∙ 1,265 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,265 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,090
    • $2.44
    •  
  • 166 N California Street Orange, 2
    • 3 beds 1 baths ∙ 1,293 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,293 Sqft ∙ Built 1953
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.40
    •  
  • 482 N Fern Street Orange, 3
    • 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1955
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.37
    •  
  • 349 S Tracy Lane Orange, 4
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1974
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.35
    •  
  • 1316 E Orange Grove Avenue Orange, 5
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1958
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.52
    •  
PROPERTY LISTING DETAILS
Shohreh Shafizadeh
Elite International Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20171949
Last Updated: 08/21/2020
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