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PROPERTY INFO
FACTS
- Single Family
- Built In 1959
- Price/Sqft : $416.15
- 3 Days on Market
- MLS # : OC20247340
- Updated Date : 11/27/2020 at 18:48
CONSTRUCTION
- Beds : 3
- Floor Size : 1,622 sqft
- Baths : 2 full
Listing Agent
Topstar Real Estate
Listing Agent's Description
Charming single family home on a large spacious lot. Pride of ownership. Immaculately cared for. This house is ready to move in. Tastefully painted in contemporary tones. This home offers 3 bedrooms and 2 bathrooms. The bedrooms have custom closets. An open floor plan and big family/entertainment room. Beautiful custom built-in and fireplace in the living room. Ungraded open kitchen and dining area. The kitchen offers a walk-in pantry and lots of storage space. The large, green backyard is ready for family BBQ’s and gatherings. It has gorgeous french doors that open up to an outdoor retreat in the private backyard with a covered patio area, fruits trees, and a yard perfect for your dream garden. There is also a storage shed/workshop in the backyard. It comes with a large two car garage and has custom built in storage cabinets as well as a work area. The attic space above the garage has a pull down ladder. Alongside the garage and driveway is a sizable parking area on the side of the house for multiple cars or an RV/boat that is gated.
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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
Neighborhood: West Side
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Side
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,910 |
| EXPENSES | Loan Payment | -$2,490 |
| Property Tax | -$687 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$143 | |
|
CASH FLOW
-$476
|
||
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.
$675,000
PROJECTED PRICE
$2,910
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 7.1% |
| 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
$184,625
LOAN DETAILS
$2,490
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $168,750 |
| Loan Amount | $506,250 |
3
YEARS SAVED
$18,935
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,910
LIST RENT -
$1.79
LIST RENT PER SQFT
-
$3,033
COMP ESTIMATED VALUE -
$1.87
COMP AVG. RENT PER SQFT
Comps Range
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4421 Oakfield Avenue Santa Ana, CA 2
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- $2,910
- $1.79
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10651 Blake Street Garden Grove, CA 1
- 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1958
LEASED 11/22/19- Rent
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- $2,550
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5103 W 7th Street Santa Ana, CA 3
- 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1939
LEASED 08/09/19- Rent
- Rent Per SQFT
- $2,950
- $1.90
-
218 N Cooper Street Santa Ana, CA 4
- 4 beds 2 baths ∙ 1,766 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,766 Sqft ∙ Built 1966
LEASED 07/08/19- Rent
- Rent Per SQFT
- $3,050
- $1.73
-
10632 Linnell Avenue Garden Grove, CA 5
- 4 beds 3 baths ∙ 1,505 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,505 Sqft ∙ Built 1959
LEASED 07/30/20- Rent
- Rent Per SQFT
- $3,100
- $2.06
PROPERTY LISTING DETAILS
Topstar Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20247340
Last Updated: 11/27/2020
