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325 W 2nd Street Tustin, CA 92780

3 Beds 1 Baths 1,152 sqft Built 1971

$758,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $657.99
  • 6 Days on Market
  • MLS # : PW21002357
  • Updated Date : 01/07/2021 at 16:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,152 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Of California

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: Tustin

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k745k

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

Neighborhood: Tustin

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443366

* 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
Helen Estock Elementary School Primary Regular 384 14 3
Columbus Tustin Middle School Middle Magnet 938 34 5
Tustin High School High Regular 2,304 86 7

Helen Estock Elementary School

  • Education Level: Primary
  • # of students: 384
  • # of teachers: 14
3
GreatSchools Rating

Columbus Tustin Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 34
5
GreatSchools Rating

Tustin High School

  • Education Level: High
  • # of students: 2,304
  • # of teachers: 86
7
GreatSchools Rating
 

$682,200$833,800$758,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,633
Property Tax -$775
Property Insurance -$55
Property Management Fees -$137
CASH FLOW
-$800

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.

$758,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$206,620

INVESTMENT

$206,620

Down Payment
$189,500
Rehab Estimate
$5,750
Closing Costs
$11,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,633

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $189,500
Loan Amount $568,500
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$2,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $2.43

    LIST RENT PER SQFT
  • $2,477

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4253$2,6004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 325 W 2nd Street Tustin, CA 5
    • 3 beds 1 baths ∙ 1,152 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,152 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.43
    •  
  • 644 W Main Street Tustin, CA 1
    • 3 beds 2 baths ∙ 952 Sqft ∙ Built 1963 3 beds 2 baths ∙ 952 Sqft ∙ Built 1963
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.36
    •  
  • 17341 Via Lindo Tustin, CA 2
    • 3 beds 2 baths ∙ 1,068 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,068 Sqft ∙ Built 1972
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $2.27
    •  
  • 457 E 1st Street Tustin, CA 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1964
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.97
    •  
  • 1143 E 1st Street Tustin, CA 4
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1963
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
PROPERTY LISTING DETAILS
Linda Hayward
Exp Realty Of California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21002357
Last Updated: 01/07/2021
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