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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $408.50
- 3 Days on Market
- MLS # : PW21039859
- Updated Date : 03/05/2021 at 21:58
CONSTRUCTION
- Beds : 4
- Floor Size : 1,836 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Midcentury Charmer in the Heart of Orange Enjoy the nostalgia of midcentury SoCal with 21st century amenities in this charming 4 bed, 3 bath Midcentury Modern home located in the heart of Orange. You’ll love all 1,831 square feet of open living space, with bright, sunny rooms and modern windows. Freshly painted throughout, with recessed lighting, ceiling fans, plantation shutters, beautiful laminate wood flooring, living room fireplace & oversized sliders in living/dining rooms that extend the space outdoors. Bedrooms feature mirrored wardrobes, and bathrooms are recently renovated with all new fixtures. Modern kitchen features new stainless steel appliances, white cabinetry/pantry & granite countertops. Covered patio and spacious side yard with plenty of room for kids and pets to play, and for safe gatherings outdoors. New fencing for privacy. Many upgrades inside and out, including tankless water heater, solar panel lease, rain gutters & finished garage. Clean out of the main sewer line was recently performed. Located within walking distance to shopping; Esplanade Elementary School & El Modena High School; Grijalva Park; & Orange Park Acres equestrian community. Just two miles from Old Town Orange & Chapman University.
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MARKET HIGHLIGHTS
- 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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: El Modena
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: El Modena
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,130 |
| EXPENSES | Loan Payment | -$2,605 |
| Property Tax | -$731 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$153 | |
|
CASH FLOW
-$430
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$750,000
PROJECTED PRICE
$3,130
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 6.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.35% |
| 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
$204,500
LOAN DETAILS
$2,605
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
3.42
YEARS SAVED
$21,529
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,130
LIST RENT -
$1.7
LIST RENT PER SQFT
-
$3,415
COMP ESTIMATED VALUE -
$1.86
COMP AVG. RENT PER SQFT
Comps Range
-
3332 E Maple Avenue Orange Park Acres, CA 1
- 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 1962 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $3,130
- $1.70
-
490 N Rancho Santiago Boulevard Orange, CA 2
- 4 beds 2 baths ∙ 1,789 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,789 Sqft ∙ Built 1964
LEASED 04/26/20- Rent
- Rent Per SQFT
- $3,200
- $1.79
-
406 N Esplanade Street Orange, CA 3
- 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1964
LEASED 09/03/20- Rent
- Rent Per SQFT
- $3,200
- $1.82
-
2011 E Orange Grove Avenue Orange, CA 4
- 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1953
LEASED 09/15/20- Rent
- Rent Per SQFT
- $3,200
- $1.90
-
308 S Wheeler Place Orange, CA 5
- 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1964
LEASED 06/18/20- Rent
- Rent Per SQFT
- $3,700
- $1.93
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21039859
Last Updated: 03/05/2021
