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446 E Rainier Avenue Orange, CA 92865

3 Beds 2 Baths 1,571 sqft Built 1976

$800,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $509.23
  • 4 Days on Market
  • MLS # : PW21028680
  • Updated Date : 02/13/2021 at 07:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,571 sqft
  • Baths : 2 full
Listing Agent

Stellarquest Real Estate

Listing Agent's Description

This is the home you’ve been waiting for in a highly desirable neighborhood! Many of the upgrades and remodels have already been done for you. As you walk through the front door you are welcomed by the formal entry and spacious living room. Upgraded tile flooring and crown molding stretches throughout the entry, kitchen and dining area. Vaulted ceilings and an abundance of windows provide an open feeling with tons of natural light, and a great view of the pool and beautiful backyard landscaping. The generous master suite features an abundance of closet space, mirrored closet doors, and an upgraded sliding glass door which leads to the backyard. An upgraded tile shower, tile flooring, tile wainscoting, and granite counters complete the remodeled master bathroom. The guest bathroom has also been beautifully remodeled with matching tile in the shower/tub, tile flooring, and tile wainscot. The 2 other bedrooms have upgraded bamboo flooring and a view of the front courtyard. In the backyard you will find a swimming pool, spa, and tons of brick planters and masonry. Plenty of room remains for an outdoor patio table and furniture. The back landscaping has been beautifully maintained and cared for.

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: 92865

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92865

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17223345

* 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
Cerro Villa Middle School Middle Regular 1,028 40 6
Villa Park High School High Regular 2,475 89 8

Cerro Villa Middle School

  • Education Level: Middle
  • # of students: 1,028
  • # of teachers: 40
6
GreatSchools Rating

Villa Park High School

  • Education Level: High
  • # of students: 2,475
  • # of teachers: 89
8
GreatSchools Rating
 

$720,000$880,000$800,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,779
Property Tax -$783
Property Insurance -$64
Property Management Fees -$152
CASH FLOW
-$678

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.

$800,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.6%
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-$15k-$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$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $200,000
Loan Amount $600,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $3,221

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2503$3,2954$3,4505$3,600
$3,600
RENT COMPS ANALYSIS
  • 446 E Rainier Avenue Orange, CA 1
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.97
    •  
  • 350 E Sand Pebble Way Orange, CA 2
    • 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1975
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.01
    •  
  • 416 E Meadowbrook Avenue Orange, CA 3
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1976
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.10
    •  
  • 3126 N Hearthside Street Orange, CA 4
    • 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1967
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.99
    •  
  • 424 E Riverview Avenue Orange, CA 5
    • 4 beds 1 baths ∙ 1,714 Sqft ∙ Built 1965 4 beds 1 baths ∙ 1,714 Sqft ∙ Built 1965
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.10
    •  
PROPERTY LISTING DETAILS
Matthew Hamilton
Stellarquest Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21028680
Last Updated: 02/13/2021
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