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3213 E Locust Avenue Orange, CA 92867

4 Beds 2 Baths 1,816 sqft Built 1963

$889,999

List Price

$3,560

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $490.09
  • 5 Days on Market
  • MLS # : SW21010913
  • Updated Date : 01/30/2021 at 16:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,816 sqft
  • Baths : 2 full
Listing Agent

Balloon Inc.

Listing Agent's Description

WISH YOU WERE HERE! Energy Efficiency to The Fullest Extent, Your New Home is Powered Packed with 27 SOLAR PANELS Owned Outright That Will Be Completely Yours at the Close of escrow. The Home is to Orange Unified School District Award Winning Villa Park Elementary, Cerro Villa Middle School, and Villa Park Highschool. Whether you're inviting guests over for Sunday Night Football or Having family Dinners During The Holidays, This Home lives up to its hype. The Kitchen Is One Of If Not The Most Decisive Sections of the home as the Owner Takes Pride Ownership. In Aesthetic Detail, he laid out and Redesigned The Porcelain Alabaster Faux Marble flooring recently installed beige Silvered Spanish backsplash, The Metalic Range, Stove, and Double Oven became the forefront of the kitchen as alternated 24 Months ago, Recessed lighting throughout the home, Modern High ceiling fans, WIFI thermostat controlling the temperature from anywhere around the globe, Modern Theme Master bathroom includes Quartz countertops & Marble flooring. RV Access located at the wooden gate. This Masterclass is Sitting in one of the most Quiescent Neighborhoods in Orange County. Who doesn't love Disneyland? as you live 12 minutes near it. Need to get to work? Stay Calm, and You are 4 minutes near the 55 Freeway. Feel that breeze? The Beach isn't too far from Home. Shopping Centers, Restaurants, Parks, Businesses, Entertainment, Prestige Location. Welcome Home and Enjoy the Orange County Sun

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$800,999$978,999$889,999

PURCHASE PRICE

$3,204$3,916$3,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,560
EXPENSES Loan Payment -$3,091
Property Tax -$871
Property Insurance -$70
Property Management Fees -$174
CASH FLOW
-$647

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.

$889,999

PROJECTED PRICE

$3,560

PROJECTED RENT

0.40%

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$241,600

INVESTMENT

$241,600

Down Payment
$222,500
Rehab Estimate
$5,750
Closing Costs
$13,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,091

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $222,500
Loan Amount $667,499
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$12,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,560

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $3,546

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,5003$3,5604$3,5805$3,600
$3,600
RENT COMPS ANALYSIS
  • 3213 E Locust Avenue Orange, CA 3
    • 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,560
    • $1.96
    •  
  • 2429 E Jackson Avenue Orange, CA 1
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1960
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.84
    •  
  • 990 N Wanda Road Orange, CA 2
    • 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
    •  
  • 2727 E Brookside Avenue Orange, CA 4
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1963
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,580
    • $2.08
    •  
  • 1050 N Wanda Road Orange, CA 5
    • 4 beds 2 baths ∙ 1,683 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,683 Sqft ∙ Built 1960
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.14
    •  
PROPERTY LISTING DETAILS
Mike Quiroga
Balloon Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21010913
Last Updated: 01/30/2021
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