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33791 Olinda Drive Dana Point, CA 92629

5 Beds 3 Baths 2,408 sqft Built 1989

$1,225,000

List Price

$4,310

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $508.72
  • 9 Days on Market
  • MLS # : OC21047423
  • Updated Date : 03/12/2021 at 16:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,408 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lantern Bay Realty

Listing Agent's Description

In the heart of the Lantern District. Moments to restaurants, shops, harbor and beach!! 5 bedroom, 4 bathroom, 3 car garage, contemporary home awaits you! Renovated in 2013 with a new kitchen that's light & bright with white cabinets & stainless appliances that opens to a large family room with fireplace & French doors that lead to one of two decks. There are 4 gorgeous tiled bathrooms with glass enclosures & designer fixtures, hardwood flooring, surround sound upstairs & down and designer paint & carpet. The master bedroom is on the main floor along with a large living room that could also be a game room with fireplace & French doors leading to a deck. Complete with an extra large 3 car garage and direct access into the house and plenty of driveway parking.

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: Lantern Village

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $243k1107k

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

Neighborhood: Lantern Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600380040004200Rent in $18444202

* 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
R. H. Dana Elementary School Primary Regular 298 9 3
Marco Forster Middle School Middle Regular 1,360 56 6
Dana Hills High School High Regular 2,716 97 9

R. H. Dana Elementary School

  • Education Level: Primary
  • # of students: 298
  • # of teachers: 9
3
GreatSchools Rating

Marco Forster Middle School

  • Education Level: Middle
  • # of students: 1,360
  • # of teachers: 56
6
GreatSchools Rating

Dana Hills High School

  • Education Level: High
  • # of students: 2,716
  • # of teachers: 97
9
GreatSchools Rating
 

$1,102,500$1,347,500$1,225,000

PURCHASE PRICE

$3,879$4,741$4,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,310
EXPENSES Loan Payment -$4,255
Property Tax -$1,155
Property Insurance -$85
Property Management Fees -$211
CASH FLOW
-$1,397

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.

$1,225,000

PROJECTED PRICE

$4,310

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 8.9%
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$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$330,375

INVESTMENT

$330,375

Down Payment
$306,250
Rehab Estimate
$5,750
Closing Costs
$18,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,255

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $306,250
Loan Amount $918,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,711

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,310

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $4,298

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,3103$4,4004$4,8005$4,950
$4,950
RENT COMPS ANALYSIS
  • 33791 Olinda Drive Dana Point, CA 2
    • 5 beds 3 baths ∙ 2,408 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,408 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,310
    • $1.79
    •  
  • 32974 Danateak Dana Point, CA 1
    • 5 beds 3 baths ∙ 2,547 Sqft ∙ Built 1986 5 beds 3 baths ∙ 2,547 Sqft ∙ Built 1986
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.65
    •  
  • 33069 Elisa Drive Dana Point, CA 3
    • 5 beds 3 baths ∙ 2,702 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,702 Sqft ∙ Built 1973
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $1.63
    •  
  • 24681 Benjamin Circle Dana Point, CA 4
    • 4 beds 4 baths ∙ 2,517 Sqft ∙ Built 1983 4 beds 4 baths ∙ 2,517 Sqft ∙ Built 1983
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $1.91
    •  
  • 34126 Moongate Court Dana Point, CA 5
    • 4 beds 2 baths ∙ 2,544 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,544 Sqft ∙ Built 1990
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $1.95
    •  
PROPERTY LISTING DETAILS
Michael Lovullo
Lantern Bay Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21047423
Last Updated: 03/12/2021
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