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PROPERTY INFO
FACTS
- Single Family
- Built In 1980
- Price/Sqft : $358.17
- 2 Days on Market
- MLS # : PW20255790
- Updated Date : 12/12/2020 at 18:10
CONSTRUCTION
- Beds : 4
- Floor Size : 2,510 sqft
- Baths : 3 full
Listing Agent
Era North Orange County
Listing Agent's Description
Beautiful MOVE IN READY home with PANORAMIC VIEWS in highly sought-after community of Canyon Country! 4 bedrooms, 3 baths with 2,510 square feet of living space. This home features a bright and open floorplan with DOWNSTAIRS BEDROOM, inside laundry, newer roof, newer HVAC, and has been updated throughout. Large sunken living room with beautiful hand-crafted beam ceilings and beautiful fireplace-the perfect place for any family gathering. Entertainers kitchen which features custom cabinetry with soft close cabinets, Stainless steel appliances, under cabinet lighting, LARGE Farm sink, Pantry that includes custom pull out drawers for Spices, pots & pans and any must have pantry items, kitchen island with wine refrigerator and is open to the family room. The spacious family room features built-in entertainment center and cozy fireplace. Master Suite features BEAUTIFUL CATALINA VIEWS, vaulted ceiling, spacious master bath that features large, jetted tub, beautiful glass walk in shower, large vanity area with double sinks and walk-in closet. Additional 2 bedrooms and upgraded full bath upstairs. Plenty of room for a large family! Backyard is perfect for entertaining and perfect for watching the sunset views off the beautiful deck or large patio area. Convenient access to walking trails, Brea’s shopping, dining, entertainment, and parks. Located in the Award-Winning Brea Olinda School District with NO HOA. Welcome Home!
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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 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.
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Zip Code: 92821
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92821
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,650 |
| EXPENSES | Loan Payment | -$3,317 |
| Property Tax | -$902 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$179 | |
|
CASH FLOW
-$835
|
||
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.
$899,000
PROJECTED PRICE
$3,650
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 4.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| 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
$243,985
LOAN DETAILS
$3,317
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $224,750 |
| Loan Amount | $674,250 |
1.58
YEARS SAVED
$10,386
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,650
LIST RENT -
$1.45
LIST RENT PER SQFT
-
$3,633
COMP ESTIMATED VALUE -
$1.45
COMP AVG. RENT PER SQFT
Comps Range
-
314 Canyon Country Road Brea, CA 4
- 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1980
- Rent
- Rent Per SQFT
- $3,650
- $1.45
-
705 Driftwood Avenue Brea, CA 1
- 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1966
LEASED 11/20/20- Rent
- Rent Per SQFT
- $3,350
- $1.40
-
346 Buttonwood Drive Brea, CA 2
- 4 beds 2 baths ∙ 2,279 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,279 Sqft ∙ Built 1965
LEASED 07/08/20- Rent
- Rent Per SQFT
- $3,450
- $1.51
-
1353 Robert Court Brea, CA 3
- 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1989
LEASED 10/08/20- Rent
- Rent Per SQFT
- $3,600
- $1.52
-
802 Forbes Drive Brea, CA 5
- 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1988
LEASED 08/15/20- Rent
- Rent Per SQFT
- $3,700
- $1.36
PROPERTY LISTING DETAILS
Era North Orange County
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20255790
Last Updated: 12/12/2020
