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407 Swanson Avenue Placentia, CA 92870

6 Beds 4 Baths 2,328 sqft Built 1966

$650,000

List Price

$3,390

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $279.21
  • 4 Days on Market
  • MLS # : PW21003697
  • Updated Date : 01/08/2021 at 17:18
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,328 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Diamond

Listing Agent's Description

MOVE-IN READY PLACENTIA HOME WITH 6 BEDROOMS + 3.5 BATHROOMS SITUATED ON A 7,000 SF LOT! This two story home is located on a quiet street with stunning curb appeal, a long driveway, large front yard, beautiful stacked stone accents on the exterior & more! Step into the 2,328 SF home which greets you with an open foyer leading you through the house. The large living room features recessed lighting, a custom stone fireplace and is open to the dining area. The kitchen features granite counter tops, stainless steel appliances, custom wood cabinetry, bar seating, plus an additional dining area that can be used as a secondary living room or dining room. This home features an oversized downstairs bedroom with access to a full bathroom with granite counter tops and a sit down bathtub/shower combo. The remaining 5 bedrooms are all located on the second level. The master suite offers a large walk-in closet and master bathroom with separated dual sink vanities, a linen cabinet and full bathroom. The 4 secondary upstairs bedrooms all share convenient access to the 1.5 bathrooms in the hallway. Some additional features of this home include solar panels, house fan, and insulation throughout the house, recessed lighting, crown molding & more! The backyard has ample space for a potential pool, plenty of greenery, large trees for added privacy, a built-in BBQ/ a mini fridge and bar seating, plus a large covered patio- large enough for an outdoor living room! Schedule your private tour today!

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

Zip Code: 92870

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92870

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
Brookhaven Elementary School Primary Regular 572 20 10
Brookhaven Elementary School Middle Regular 572 20 10
El Dorado High School High Regular 1,904 73 8

Brookhaven Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 20
10
GreatSchools Rating

Brookhaven Elementary School

  • Education Level: Middle
  • # of students: 572
  • # of teachers: 20
10
GreatSchools Rating

El Dorado High School

  • Education Level: High
  • # of students: 1,904
  • # of teachers: 73
8
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$3,051$3,729$3,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,390
EXPENSES Loan Payment -$2,258
Property Tax -$752
Property Insurance -$83
Property Management Fees -$166
CASH FLOW
$131

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$650,000

PROJECTED PRICE

$3,390

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$58,372

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,390

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $3,329

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$3,390
1$3,3902$3,3903$3,5004$3,850
$3,850
RENT COMPS ANALYSIS
  • 407 Swanson Avenue Placentia, CA 2
    • 6 beds 4 baths ∙ 2,328 Sqft ∙ Built 1966 6 beds 4 baths ∙ 2,328 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $1.46
    •  
  • 2025 Tweed Street Placentia, CA 1
    • 5 beds 3 baths ∙ 2,572 Sqft ∙ Built 1966 5 beds 3 baths ∙ 2,572 Sqft ∙ Built 1966
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $1.32
    •  
  • 668 Brunswick Avenue Placentia, CA 3
    • 5 beds 3 baths ∙ 2,352 Sqft ∙ Built 1965 5 beds 3 baths ∙ 2,352 Sqft ∙ Built 1965
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.49
    •  
  • 615 Pinehurst Avenue Placentia, CA 4
    • 5 beds 3 baths ∙ 2,594 Sqft ∙ Built 1966 5 beds 3 baths ∙ 2,594 Sqft ∙ Built 1966
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.48
    •  
PROPERTY LISTING DETAILS
Alex Horowitz
Coldwell Banker Diamond
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21003697
Last Updated: 01/08/2021
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