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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $518.64
- 2 Days on Market
- MLS # : PW21050475
- Updated Date : 03/13/2021 at 10:05
CONSTRUCTION
- Beds : 4
- Floor Size : 1,502 sqft
- Baths : 1 full
Listing Agent
Socal Realty Group
Listing Agent's Description
A Taste of Gorgeous - Be Inspired From top to bottom and front to back—Everything has been lovingly and thoughtfully worked on with the thoughts of how the new homeowner can enjoy life here and many small details make up a big beautiful picture. Professionally details everywhere. New paint inside and outside, scraped ceilings, new cam lighting, new panel doors, new 4” mouldings around the new laminate flooring. New sod, and even some new epoxy painting over cement in garage floor. And in the kitchen there is a custom tile treatment for the countertops and some backsplash, there is newer ‘model home’ appliances, a double oven, dishwasher in beautiful stainless steel. New toilets, re-glazed sinks, tub. So, so many beautiful features both big and small, you just have to see the home to experience the beautiful ambiance of this home. Another plus is possible RV parking
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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: 92867
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92867
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,960 |
| EXPENSES | Loan Payment | -$2,706 |
| Property Tax | -$763 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$145 | |
|
CASH FLOW
-$716
|
||
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.
$779,000
PROJECTED PRICE
$2,960
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| 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
$212,185
LOAN DETAILS
$2,706
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $194,750 |
| Loan Amount | $584,250 |
1.42
YEARS SAVED
$6,023
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,960
LIST RENT -
$1.97
LIST RENT PER SQFT
-
$2,936
COMP ESTIMATED VALUE -
$1.95
COMP AVG. RENT PER SQFT
Comps Range
-
480 N Clinton Street Orange, CA 2
- 4 beds 1 baths ∙ 1,502 Sqft ∙ Built 1962 4 beds 1 baths ∙ 1,502 Sqft ∙ Built 1962
![property image]()
- Rent
- Rent Per SQFT
- $2,960
- $1.97
-
311 N Highland Street Orange, CA 1
- 4 beds 1 baths ∙ 1,560 Sqft ∙ Built 1972 4 beds 1 baths ∙ 1,560 Sqft ∙ Built 1972
![property image]()
LEASED 10/03/20- Rent
- Rent Per SQFT
- $2,895
- $1.86
-
2807 E Lomita Avenue Orange, CA 3
- 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1956
![property image]()
LEASED 12/29/20- Rent
- Rent Per SQFT
- $3,000
- $1.95
-
783 N Elmwood Street Orange, CA 4
- 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1964
![property image]()
LEASED 03/26/20- Rent
- Rent Per SQFT
- $3,200
- $2.11
-
2011 E Orange Grove Avenue Orange, CA 5
- 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1953
![property image]()
LEASED 09/15/20- Rent
- Rent Per SQFT
- $3,200
- $1.90
PROPERTY LISTING DETAILS
Socal Realty Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21050475
Last Updated: 03/13/2021
