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480 N Clinton Street Orange, CA 92867

4 Beds 1 Baths 1,502 sqft Built 1962

$779,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
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

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k813k

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443604

* 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
Yorba Middle School Middle Regular 582 26 5
Orange High School High Regular 1,927 79 4
Orange High School High Unknown NA

Yorba Middle School

  • Education Level: Middle
  • # of students: 582
  • # of teachers: 26
5
GreatSchools Rating

Orange High School

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

Orange High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$701,100$856,900$779,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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

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$212,185

INVESTMENT

$212,185

Down Payment
$194,750
Rehab Estimate
$5,750
Closing Costs
$11,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,706

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $194,750
Loan Amount $584,250
See What Happens When You Reinvest Cash Flow

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
$2,895
1$2,8952$2,9603$3,0004$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 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
Lauree Godwin
Socal Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21050475
Last Updated: 03/13/2021
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