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3908 E Silverleaf Avenue Orange, CA 92869

3 Beds 2 Baths 1,759 sqft Built 1964

$759,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $431.50
  • 3 Days on Market
  • MLS # : RS21025005
  • Updated Date : 02/05/2021 at 19:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,759 sqft
  • Baths : 2 full
Listing Agent

Dream Life Real Estate

Listing Agent's Description

Welcome to your new Orange County home, in the city of Orange! This gorgeous pool home features newer flooring, baseboards, renovated kitchen and baths, copper plumbing, recessed lighting, central AC and Heat, dual pane windows, and extra large bonus room with endless possibilities. With a two-car garage, pool, big backyard, grass and garden space, this is the type of house you can call your forever home. Centrally located in Orange County with great access to freeways, restaurants, shopping, and schools. Come see this for yourself, this home, in this neighborhood won't 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
 

$683,100$834,900$759,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,636
Property Tax -$735
Property Insurance -$69
Property Management Fees -$147
CASH FLOW
-$596

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.

$759,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.39%

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

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$206,885

INVESTMENT

$206,885

Down Payment
$189,750
Rehab Estimate
$5,750
Closing Costs
$11,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,636

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $189,750
Loan Amount $569,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$12,245

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $1.7

    LIST RENT PER SQFT
  • $3,237

    COMP ESTIMATED VALUE
  • $1.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,895
1$2,8952$2,9903$3,2004$3,2005$3,700
$3,700
RENT COMPS ANALYSIS
  • 3908 E Silverleaf Avenue Orange, CA 2
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.70
    •  
  • 5048 E Almond Avenue Orange, CA 1
    • 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 1980
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.82
    •  
  • 490 N Rancho Santiago Boulevard Orange, CA 3
    • 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
    •  
  • 406 N Esplanade Street Orange, CA 4
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1964
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.82
    •  
  • 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
Michael Sopena
Dream Life Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS21025005
Last Updated: 02/05/2021
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