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347 S Jennifer Lane Orange, CA 92869

4 Beds 3 Baths 2,326 sqft Built 1975

$998,995

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $429.49
  • 4 Days on Market
  • MLS # : PW21031452
  • Updated Date : 02/18/2021 at 09:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,326 sqft
  • Baths : 2 full , 1 half
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

A beautifully updated home with scraped ceilings, new kitchen with giant island (approximately 4 feet by 9 feet) and quartz countertops, updated bathrooms, new garage door, recessed lighting, newer windows and sliders, new front door, new concrete walkway, new grass, automatic sprinkler system with timer, marble fireplace, vinyl flooring throughout the first floor, new carpet on the second floor. Master bedroom with private bathroom and walk-in closet. Second bedroom with wall-to-wall walk-in closet. You have a peek-a-boo view from the master bedroom and upstairs balcony. Huge shed for storage. The property has mature palm trees. There is a side yard that can be used for RV or boat parking. Great neighborhood that is close to medical center, shopping center, 55, 57, and 91 freeways. Close to downtown Orange and the Orange circle. Must see to appreciate.

SEE MORE

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

Zip Code: 92869

ZipNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $260k922k

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

Zip Code: 92869

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18633818

* 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
Santiago Middle School Middle Charter 967 38 5
El Modena High School High Regular 2,196 89 7
Santiago Middle School Middle Unknown NA

Santiago Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 38
5
GreatSchools Rating

El Modena High School

  • Education Level: High
  • # of students: 2,196
  • # of teachers: 89
7
GreatSchools Rating

Santiago Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$899,096$1,098,895$998,995

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$3,470
Property Tax -$967
Property Insurance -$82
Property Management Fees -$170
CASH FLOW
-$1,229

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$998,995

PROJECTED PRICE

$3,460

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$15k

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$270,484

INVESTMENT

$270,484

Down Payment
$249,749
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,470

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,749
Loan Amount $749,246
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,460

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $3,640

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,4603$3,6004$3,8755$3,900
$3,900
RENT COMPS ANALYSIS
  • 347 S Jennifer Lane Orange, CA 2
    • 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $1.49
    •  
  • 18141 Casselle Avenue Santa Ana, CA 1
    • 3 beds 3 baths ∙ 2,155 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,155 Sqft ∙ Built 1956
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.53
    •  
  • 645 S Yorba St Orange, CA 3
    • 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 1962
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.47
    •  
  • 234 S Rosalind Drive Orange, CA 4
    • 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 1963
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,875
    • $1.68
    •  
  • 3125 E Larkstone Drive Orange, CA 5
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1962
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.58
    •  
PROPERTY LISTING DETAILS
Reem Awad
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21031452
Last Updated: 02/18/2021
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