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3340 E Collins Avenue #46 Orange, CA 92867

3 Beds 3 Baths 1,456 sqft Built 1975

$599,800

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $411.95
  • 3 Days on Market
  • MLS # : OC20257627
  • Updated Date : 12/18/2020 at 08:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

This Beautiful home in Arroyo Santiago features soft grey and white color tones, LED recessed lighting, upgraded Laminate Vinyl Plank flooring and upgrades throughout. The large sliders and windows allow an abundance of natural light to illuminate the open floor plan. The gourmet kitchen impresses with fresh white cabinetry, Quartz countertops, full subway back splash, the stainless steel appliances include Refrigerator, dishwasher, single oven gas range and farm style sink. Adjacent is the dining area with a custom dining table and new pantry system with a modern barn door. The living rooms sliding door opens to the serene patio, the inside laundry room includes washer and dryer, and a half bathroom complete the first floor. Up the staircase, is the primary bedroom with high ceilings, new ceiling fan and the en-suite has a vanity with granite countertops and a shower over a tub. The two additional spacious bedrooms feature new carpet, new ceiling fans and an amazing view of the Riverbed share a full bathroom nearby. Relax in the front patio with a new Trex deck, seating bench, propane grill, fire table and string lights. This smart home has a new HVAC unit, ducts, vents, wiring and heating/AC unit with new Nest thermostat. Single garage with epoxy floors and new front gate. Enjoy the community pool, spa, greenbelts, walking and biking riverbed trail. Nearby shopping, dining, easy freeway access to the 55, 5, 91 and toll roads. See Supplement for more home features details.

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: 92867

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k813k

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443604

* 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
Handy Elementary School Primary Regular 562 25 6
Handy Elementary School Middle Regular 562 25 6
Orange High School High Regular 1,927 79 4

Handy Elementary School

  • Education Level: Primary
  • # of students: 562
  • # of teachers: 25
6
GreatSchools Rating

Handy Elementary School

  • Education Level: Middle
  • # of students: 562
  • # of teachers: 25
6
GreatSchools Rating

Orange High School

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

$539,820$659,780$599,800

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,213
Property Tax -$590
Property Insurance -$61
HOA -$285
Property Management Fees -$144
CASH FLOW
-$353

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.

$599,800

PROJECTED PRICE

$2,940

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,697

INVESTMENT

$164,697

Down Payment
$149,950
Rehab Estimate
$5,750
Closing Costs
$8,997

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,950
Loan Amount $449,850
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$16,543

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $2.02

    LIST RENT PER SQFT
  • $3,225

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,940
1$2,9402$3,1003$3,2004$3,2005$3,295
$3,295
RENT COMPS ANALYSIS
  • 3340 E Collins Avenue Orange, CA 1
    • 3 beds 3 baths ∙ 1,456 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,456 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $2.02
    •  
  • 482 N Fern Street Orange, CA 2
    • 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1955
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.37
    •  
  • 783 N Elmwood Street Orange, CA 3
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1964
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.11
    •  
  • 2223 E Wilson Avenue Orange, CA 4
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1961
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.16
    •  
  • 2308 E Hoover Avenue Orange, CA 5
    • 3 beds 1 baths ∙ 1,482 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,482 Sqft ∙ Built 1962
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.22
    •  
PROPERTY LISTING DETAILS
Susan Karcher
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20257627
Last Updated: 12/18/2020
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