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3805 E Palm Avenue Orange, CA 92869

5 Beds 1 Baths 1,900 sqft Built 1965

$725,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $381.58
  • 8 Days on Market
  • MLS # : PW21020384
  • Updated Date : 02/03/2021 at 12:51
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,900 sqft
  • Baths : 1 full
Listing Agent

Pineda Realty

Listing Agent's Description

First Time on the Market!!! Outstanding opportunity to own this 5 bedroom/3bathroom home located in the desirable East Orange neighborhood. This home offers: Spacious living room with cozy fireplace, Bright and open kitchen overlooking the dining area/family room with an extension/add-on leads to the large backyard. There are (4) ample bedrooms downstairs included the Master Bedroom with it own bathroom. Common bathroom off the hallway. Upstairs: The huge 5th bedroom with it own bathroom, walk-in closet, and private deck to enjoy the view. The 2 car garage with direct access and full size washer/dryer hookup. The backyard with a covered patio great for entertaining. Centrally located to shopping centers, freeways and the toll roads. Close to Chapman University, walking distance to El Modena High school, Charters Schools, and Esplanade/Prospect Elementary. Don't miss out on this this one it will not last.

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: El Modena

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: El Modena

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943345

* 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
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,518
Property Tax -$702
Property Insurance -$72
Property Management Fees -$157
CASH FLOW
-$249

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.

$725,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$33,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.68

    LIST RENT PER SQFT
  • $3,534

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,095
1$3,0952$3,2003$3,2004$3,5005$3,700
$3,700
RENT COMPS ANALYSIS
  • 3805 E Palm Avenue Orange, CA 3
    • 5 beds 1 baths ∙ 1,900 Sqft ∙ Built 1965 5 beds 1 baths ∙ 1,900 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.68
    •  
  • 582 N La Nae Circle Orange, CA 1
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1965
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.97
    •  
  • 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
    •  
  • 990 N Wanda Road Orange, CA 4
    • 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 1952 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 1952
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.75
    •  
  • 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
Susie Pineda
Pineda Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21020384
Last Updated: 02/03/2021
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