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392 N Citrus Street Orange, CA 92868

4 Beds 1 Baths 1,732 sqft Built 1948

$714,000

List Price

$3,360

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
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

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $194k742k

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

Zip Code: 92868

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15763345

* 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
Sycamore Elementary School Primary Regular 443 16 4
Sycamore Elementary School Middle Regular 443 16 4
Orange High School High Regular 1,927 79 4

Sycamore Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 16
4
GreatSchools Rating

Sycamore Elementary School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 16
4
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$642,600$785,400$714,000

PURCHASE PRICE

$3,024$3,696$3,360

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$194,960

INVESTMENT

$194,960

Down Payment
$178,500
Rehab Estimate
$5,750
Closing Costs
$10,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,634

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $178,500
Loan Amount $535,500
See What Happens When You Reinvest Cash Flow

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
$2,850
1$2,8502$3,3603$3,6004$3,6005$3,800
$3,800
RENT COMPS ANALYSIS
  • 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
Kara Handy
Dilbeck Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2430
Last Updated: 11/24/2020
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