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322 S Parker Street Orange, CA 92868

4 Beds 2 Baths 1,275 sqft Built 1946

$739,000

List Price

$3,260

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $579.61
  • 5 Days on Market
  • MLS # : PW20238148
  • Updated Date : 11/14/2020 at 09:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,275 sqft
  • Baths : 2 full
Listing Agent

Real Estate Establishment Inc.

Listing Agent's Description

Located in the Old Town Orange Historic District! Just a short walk or bike ride to all the amazing shops and restaurants in the Orange Plaza! This 4 bedroom, 2 bath home is spread out over nearly 1300 square feet of living space. Upon entering the home, the first thing you will notice is the premium distressed laminate wood flooring. This is carried through the living room, master suite, and 4th bedroom/office. With the lovely French doors, this room could also be a den or additional dining area. The stylish kitchen includes quartz counter tops, custom white shaker cabinetry, and stainless steel appliances. The en suite master bathroom has been updated with newer tile flooring and shower surround. Spacious backyard perfect for entertaining with mature fruit trees Mango, Green Apple, Lime, and Lemon. 2 car garage with a finished additional room that can be used an a office/workshop. Recent upgrades include newer dual pane windows and central heating/air conditioning. In addition, the main electrical panel is upgraded to a 200 amp panel with a 60 amp sub panel installed in the garage. Laundry area was added as well in the garage as a separate finished room. Close access to the 22 freeway as well as St Joseph and CHOC hospital. Do not miss out on this opportunity!

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: Old Towne

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $219k742k

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

Neighborhood: Old Towne

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $16033345

* 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
West Orange Elementary School Primary Regular 480 15 6
West Orange Elementary School Middle Regular 480 15 6
Orange High School High Regular 1,927 79 4

West Orange Elementary School

  • Education Level: Primary
  • # of students: 480
  • # of teachers: 15
6
GreatSchools Rating

West Orange Elementary School

  • Education Level: Middle
  • # of students: 480
  • # of teachers: 15
6
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$665,100$812,900$739,000

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$2,727
Property Tax -$723
Property Insurance -$57
Property Management Fees -$160
CASH FLOW
-$407

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.

$739,000

PROJECTED PRICE

$3,260

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,585

INVESTMENT

$201,585

Down Payment
$184,750
Rehab Estimate
$5,750
Closing Costs
$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,727

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,750
Loan Amount $554,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$25,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $2.56

    LIST RENT PER SQFT
  • $3,178

    COMP ESTIMATED VALUE
  • $2.49

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$2,7953$2,9004$3,1455$3,260
$3,260
RENT COMPS ANALYSIS
  • 322 S Parker Street Orange, CA 5
    • 4 beds 2 baths ∙ 1,275 Sqft ∙ Built 1946 4 beds 2 baths ∙ 1,275 Sqft ∙ Built 1946
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $2.56
    •  
  • 245 N Main Street Orange, CA 1
    • 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1946
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.47
    •  
  • 901 W Palmyra Avenue Orange, CA 2
    • 3 beds 1 baths ∙ 1,091 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,091 Sqft ∙ Built 1950
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.56
    •  
  • 410 N Clark Street Orange, CA 3
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.32
    •  
  • 181 N Lester Drive Orange, CA 4
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1930 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1930
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,145
    • $2.62
    •  
PROPERTY LISTING DETAILS
Matthew Drenner
Real Estate Establishment Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20238148
Last Updated: 11/14/2020
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