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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $614.18
- 3 Days on Market
- MLS # : OC21002508
- Updated Date : 01/08/2021 at 22:19
CONSTRUCTION
- Beds : 3
- Floor Size : 959 sqft
- Baths : 1 full
Listing Agent
Realty One Group West
Listing Agent's Description
Welcome to this charming move-in-ready home in a great neighborhood close to shopping, freeways, and entertainment. Situated on a 7,200+ lot with a sizable front yard and a huge backyard complete with mature avocado and guava trees. Spacious kitchen with plenty of storage and counter space. Remodeled bathroom with a beautiful modern touch. Tons of upgrades completed this year including: new exterior paint, new African Mahogany fence, new light fixtures throughout, new window screens and blinds, and an upgraded lawn irrigation system. A newer exterior mainline sewer clean out and hydro-jetted sewer lines. Newer roof (2016) and the HVAC system (2015). Open floor plan with kitchen overlooking the dining room and living room leading into bedrooms and an upgraded bathroom. Sliding doors lead to an outdoor covered patio overlooking the large backyard with a grassy area, low maintenance landscaping, and storage shed. This home has been lovingly cared for and is ready for its new homeowners!
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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: Buena Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Buena Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,510 |
| EXPENSES | Loan Payment | -$2,046 |
| Property Tax | -$609 | |
| Property Insurance | -$50 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
-$318
|
||
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.
$589,000
PROJECTED PRICE
$2,510
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 6.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$161,835
LOAN DETAILS
$2,046
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $147,250 |
| Loan Amount | $441,750 |
3.17
YEARS SAVED
$15,146
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,510
LIST RENT -
$2.62
LIST RENT PER SQFT
-
$1,920
COMP ESTIMATED VALUE -
$2
COMP AVG. RENT PER SQFT
Comps Range
-
3169 W Coolidge Avenue Anaheim, CA 3
- 3 beds 1 baths ∙ 959 Sqft ∙ Built 1953 3 beds 1 baths ∙ 959 Sqft ∙ Built 1953
- Rent
- Rent Per SQFT
- $2,510
- $2.62
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8106 Santa Inez Drive Buena Park, CA 1
- 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1964
LEASED 05/26/20- Rent
- Rent Per SQFT
- $2,100
- $1.82
-
7244 El Poste Drive Buena Park, CA 2
- 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1958
LEASED 08/14/19- Rent
- Rent Per SQFT
- $2,500
- $2.04
-
9231 Via Vista Drive Buena Park, CA 4
- 4 beds 2 baths ∙ 1,287 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,287 Sqft ∙ Built 1956
LEASED 08/01/20- Rent
- Rent Per SQFT
- $2,600
- $2.02
-
7986 El Monte Drive Buena Park, CA 5
- 4 beds 2 baths ∙ 1,270 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,270 Sqft ∙ Built 1958
LEASED 02/26/20- Rent
- Rent Per SQFT
- $2,700
- $2.13
PROPERTY LISTING DETAILS
Realty One Group West
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21002508
Last Updated: 01/08/2021
