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3836 E Dorothy Drive Orange, CA 92869

3 Beds 2 Baths 1,102 sqft Built 1960

$724,900

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $657.80
  • 2 Days on Market
  • MLS # : OC21151318
  • Updated Date : 07/12/2021 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,102 sqft
  • Baths : 2 full
Listing Agent

Home Team Real Estate Inc

Listing Agent's Description

OPPORTUNITY KNOCKS in this quaint cottage home located at the end of a cul-de-sac. This single-level home is located in East Orange. The large lot features gated RV access and a low-maintenance yard. Newer roof features solar panels. Galley style kitchen opens up to separate dining area and living room with picture window. Large master bedroom features an updated ensuite bathroom. All rooms have ceiling fans. The large rear yard features a covered porch, storage shed and ample space for a dog run or garden area. Two-car garage holds laundry. Located within walking distance to the award-winning McPherson Magnet School and minutes from Old Towne Orange, Chapman University, shopping, freeways and entertainment...this charming property is ready and waiting for its new owners to call home. ALL OFFERS DUE BY 5:00pm MONDAY, JULY 19. DON'T MISS THIS ONE!!

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MARKET HIGHLIGHTS

  • 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.
  • 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]

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
 

$652,410$797,390$724,900

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,518
Property Tax -$709
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$779

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.

$724,900

PROJECTED PRICE

$2,630

PROJECTED RENT

0.36%

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

PROJECTED ANNUAL CASH FLOW

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

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$197,849

INVESTMENT

$197,849

Down Payment
$181,225
Rehab Estimate
$5,750
Closing Costs
$10,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% 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 $181,225
Loan Amount $543,675
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $2,187

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4003$2,630
$2,630
RENT COMPS ANALYSIS
  • 3836 E Dorothy Drive Orange, CA 3
    • 3 beds 2 baths ∙ 1,102 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,102 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $2.39
    •  
  • 2030 E Santa Clara Avenue Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1963
    property image
    LEASED 06/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.86
    •  
  • 2441 Deodar Street Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1971
    property image
    LEASED 03/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.11
    •  
PROPERTY LISTING DETAILS
Alice Ham
Home Team Real Estate Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21151318
Last Updated: 07/12/2021
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