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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Villa Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$258,030
LOAN DETAILS
$3,307
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $238,000 |
| Loan Amount | $714,000 |
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
-
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
The Shire Real Estate Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21024979
Last Updated: 02/05/2021
