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PROPERTY INFO
FACTS
- Single Family
- Built In 1948
- Price/Sqft : $412.24
- 6 Days on Market
- MLS # : P1-2430
- Updated Date : 11/24/2020 at 16:02
CONSTRUCTION
- Beds : 4
- Floor Size : 1,732 sqft
- Baths : 1 full
Listing Agent
Dilbeck Real Estate
Listing Agent's Description
Classic 1948 Corner Ranch Home Chapman University Adjacent! Opportunity Knocks...for you to acquire this highly desired One-Story Ranch Home situated in a coveted Orange neighborhood, blocks form Chapman University. There are 4 Bedrooms with 2 bathrooms including a Master Suite. Large & Lush backyard with a Green House, Covered Patio, Easy Garage Access, Workshop & Covered Side Yard with room for many toys. The mature Plumaria Tree is the anchor full of great family memories, and ready for new ones. The trees, shrubs, flowers & foliage surrounding the property create both privacy and a sense of calm for your soul. Flat land with room for expansion and there is plenty of parking for Guests! Your one-story Entertainer's Home awaits...with open arms. So much to be thankful for-Welcome Home!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Zip Code: 92868
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92868
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,360 |
| EXPENSES | Loan Payment | -$2,634 |
| Property Tax | -$699 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$165 | |
|
CASH FLOW
-$206
|
||
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.
$714,000
PROJECTED PRICE
$3,360
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 6.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$194,960
LOAN DETAILS
$2,634
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $178,500 |
| Loan Amount | $535,500 |
5.25
YEARS SAVED
$46,473
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,360
LIST RENT -
$1.94
LIST RENT PER SQFT
-
$3,737
COMP ESTIMATED VALUE -
$2.16
COMP AVG. RENT PER SQFT
Comps Range
-
392 N Citrus Street Orange, CA 2
- 4 beds 1 baths ∙ 1,732 Sqft ∙ Built 1948 4 beds 1 baths ∙ 1,732 Sqft ∙ Built 1948
![property image]()
- Rent
- Rent Per SQFT
- $3,360
- $1.94
-
376 N Batavia Street Orange, CA 1
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954
![property image]()
LEASED 07/20/20- Rent
- Rent Per SQFT
- $2,850
- $2.04
-
313 E Lomita Avenue Orange, CA 3
- 4 beds 1 baths ∙ 1,595 Sqft ∙ Built 1954 4 beds 1 baths ∙ 1,595 Sqft ∙ Built 1954
![property image]()
LEASED 01/01/20- Rent
- Rent Per SQFT
- $3,600
- $2.26
-
264 N Frampton Street Orange, CA 4
- 5 beds 2 baths ∙ 1,699 Sqft ∙ Built 1960 5 beds 2 baths ∙ 1,699 Sqft ∙ Built 1960
![property image]()
LEASED 09/07/20- Rent
- Rent Per SQFT
- $3,600
- $2.12
-
739 W Washington Avenue Orange, CA 5
- 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 1968
![property image]()
LEASED 09/01/20- Rent
- Rent Per SQFT
- $3,800
- $2.21
PROPERTY LISTING DETAILS
Dilbeck Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: P1-2430
Last Updated: 11/24/2020
