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3124 E Jackson Avenue Orange, CA 92867

5 Beds 3 Baths 2,152 sqft Built 1963

$952,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $442.38
  • 3 Days on Market
  • MLS # : PW21024979
  • Updated Date : 02/05/2021 at 17:14
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,152 sqft
  • Baths : 3 full
Listing Agent

The Shire Real Estate Group

Listing Agent's Description

Location! Location! Nestled within one of the bedroom neighborhoods of Orange and just steps to Villa Park. This spacious 5 Bedroom 3 Bathroom single family home is within the Villa Park School District. This home has 3 bedrooms down and 2 additional bedrooms up above the garage with a shared 3/4 bath. This home as been completely remolded throughout. Beautiful and huge kitchen with granite counters, canister lighting, central air and so much more. Newer carpet and hardwood laminate floors throughout. Automatic sprinklers in the front and back and has direct access to the home through the garage. Easy access to transportation including the 55 Fwy. close to all the big amenities such as hospitals, parks, public schools, and Downtown Orange and other shopping facilities.

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

Neighborhood: Villa Park

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $260k1388k

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

Neighborhood: Villa Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000420044004600Rent in $18634662

* 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
 

$856,800$1,047,200$952,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$3,307
Property Tax -$932
Property Insurance -$78
Property Management Fees -$192
CASH FLOW
-$598

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.

$952,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.8%
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-$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$258,030

INVESTMENT

$258,030

Down Payment
$238,000
Rehab Estimate
$5,750
Closing Costs
$14,280

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,307

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $238,000
Loan Amount $714,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$17,878

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,910

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,847

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,5003$3,5004$3,8005$3,910
$3,910
RENT COMPS ANALYSIS
  • 3124 E Jackson Avenue Orange, CA 5
    • 5 beds 3 baths ∙ 2,152 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,152 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,910
    • $1.82
    •  
  • 977 N Hart Street Orange, CA 1
    • 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 1963
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.88
    •  
  • 2710 E Adams Avenue Orange, CA 2
    • 5 beds 2 baths ∙ 2,038 Sqft ∙ Built 1960 5 beds 2 baths ∙ 2,038 Sqft ∙ Built 1960
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.72
    •  
  • 990 N Wanda Road Orange, CA 3
    • 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 1952 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 1952
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.75
    •  
  • 2335 E Trenton Ave Orange, CA 4
    • 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 1963
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.80
    •  
PROPERTY LISTING DETAILS
John Chesshire
The Shire Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21024979
Last Updated: 02/05/2021
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