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3121 N Hearthside Street Orange, CA 92865

6 Beds 3 Baths 2,298 sqft Built 1969

$875,000

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $380.77
  • 5 Days on Market
  • MLS # : PW21044639
  • Updated Date : 03/04/2021 at 07:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,298 sqft
  • Baths : 3 full
Listing Agent

Apg Properties

Listing Agent's Description

Welcome Home! This six bedroom and 3  bathroom home boasts a spacious layout and plenty of living space. Tile and wood style flooring adorn the living areas and master bedroom. The interior has been freshly painted, with new carpet in all of the other bedrooms. The upgraded kitchen features stainless steel appliances, granite countertops, lots of cabinets for storage, and bar seating. Relax in the living room in front of the stone fireplace, or enjoy the pool and jacuzzi in the backyard. There are ceiling fans in each bedroom and living space, along with recessed lighting and skylights in the home.  The bedrooms are all generous in size, with a large master suite. Featured in the master bathroom is a beautiful tile shower with glass doors. This home is conveniently located with easy access to the 91, 55, and 57 freeways and part of the Orange Unified School District. Solar panels are leased to the property through Solar City.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

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
 

$787,500$962,500$875,000

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$3,039
Property Tax -$857
Property Insurance -$81
Property Management Fees -$171
CASH FLOW
-$658

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.

$875,000

PROJECTED PRICE

$3,490

PROJECTED RENT

0.40%

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$12,666

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,490

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $3,570

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4903$3,8004$3,900
$3,900
RENT COMPS ANALYSIS
  • 3121 N Hearthside Street Orange, CA 2
    • 6 beds 3 baths ∙ 2,298 Sqft ∙ Built 1969 6 beds 3 baths ∙ 2,298 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $1.52
    •  
  • 1988 N Cambridge Street Orange, CA 1
    • 5 beds 3 baths ∙ 2,135 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,135 Sqft ∙ Built 1963
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.50
    •  
  • 2903 E Collyer Lane Anaheim, CA 3
    • 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1963
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.48
    •  
  • 2541 N Delta Street Orange, CA 4
    • 6 beds 4 baths ∙ 2,316 Sqft ∙ Built 1971 6 beds 4 baths ∙ 2,316 Sqft ∙ Built 1971
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.68
    •  
PROPERTY LISTING DETAILS
Daniel Groomer
Apg Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21044639
Last Updated: 03/04/2021
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