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325 Purdy Avenue Placentia, CA 92870

3 Beds 2 Baths 2,155 sqft Built 1973

$925,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $429.23
  • 4 Days on Market
  • MLS # : OC21055555
  • Updated Date : 03/18/2021 at 20:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,155 sqft
  • Baths : 2 full
Listing Agent

Strand Real Estate

Listing Agent's Description

NEW ROOF 2020!!!This beautiful completely remodeled Single Story Home on a quiet cul-de-sac with a pool! Custom designed Fully upgraded single level home with no expense spared. Starting with custom hardwood floors, recessed lighting throughout, new sliding glass door, amazing kitchen with custom cabinets covered in stunning quartz counter tops, New furnace, new heater, new AC, new water heater, new bathroom vanities and the list go on. As you walk through the new double front door you immediately notice the vaulted ceilings with ample natural light enhanced by energy efficient recessed LED lighting shining on the hardwood floors which lead you to you massive living room with large picture window of the backyard and pool. The kitchen features custom cabinets and quartz counter tops showcasing the high end stainless steel appliances and drop range exhaust fan overlooking both dining areas. The separated family room has new sliding glass door to your private patio and pool with a beautiful greenery hedged yard. The master and 2nd bedroom is huge. The guest and master bathrooms brand new vanity, sink and hardware. The garage is an oversize 3 car garage and enough room for a boat or RV. This home was upgraded with nothing missed. It has recessed LED lighting, new floors in every room, custom paint, brand new bathrooms and kitchen, new high-end appliances, and new high efficiency AC. Award Winning Schools sand Tri-city Park. included with the price.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 92870

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92870

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
Tuffree Middle School Middle Regular 727 27 8
El Dorado High School High Regular 1,904 73 8

Tuffree Middle School

  • Education Level: Middle
  • # of students: 727
  • # of teachers: 27
8
GreatSchools Rating

El Dorado High School

  • Education Level: High
  • # of students: 1,904
  • # of teachers: 73
8
GreatSchools Rating
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$3,213
Property Tax -$973
Property Insurance -$79
Property Management Fees -$160
CASH FLOW
-$1,155

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.

$925,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.5%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,213

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $3,502

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2703$3,3004$3,4505$3,500
$3,500
RENT COMPS ANALYSIS
  • 325 Purdy Avenue Placentia, CA 2
    • 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $1.52
    •  
  • 1618 Collins Way Placentia, CA 1
    • 4 beds 3 baths ∙ 2,029 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,029 Sqft ∙ Built 1976
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.58
    •  
  • 2220 Cartlen Drive Placentia, CA 3
    • 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 1963
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.64
    •  
  • 650 Oakhaven Avenue Brea, CA 4
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1969
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.74
    •  
  • 307 Bagnall Avenue Placentia, CA 5
    • 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1966
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.54
    •  
PROPERTY LISTING DETAILS
Michael Hamalak
Strand Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21055555
Last Updated: 03/18/2021
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