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4971 Corso Circle Cypress, CA 90630

5 Beds 2 Baths 2,950 sqft Built 1996

$1,299,000

List Price

$4,250

$4K - $4.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $440.34
  • 5 Days on Market
  • MLS # : 21680086
  • Updated Date : 01/14/2021 at 08:31
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,950 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Light, bright and airy, highly sought after Sorrento Community, Gallery #4 floor plan home featuring 5 bedrooms (one on the first level). Soaring ceilings, open floor plan, NEW 2021 exterior paint, NEW exterior backyard automated awnings for comfortable outdoor entertaining on the patio. Gourmet kitchen has stainless steel appliances with a NEW cooktop & NEW dishwasher. The master suite boasts high ceilings, a spacious walk-in closet, fireplace, Jacuzzi tub and separate shower. Dual HVAC systems, whole house water softener system, spacious laundry with a NEW washer, and a 3-car garage. Close to Veteran 6-acre park and highly rated Cypress schools including Oxford Academy, nationally ranked #19 and #2 in CA in 2020. Must see home! (some photos are virtually staged)

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cypress

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Neighborhood: Cypress

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18413345

* 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
Margaret Landell Elementary School Primary Regular 711 24 10
Margaret Landell Elementary School Middle Regular 711 24 10
Cypress High School High Regular 2,737 92 9

Margaret Landell Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 24
10
GreatSchools Rating

Margaret Landell Elementary School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 24
10
GreatSchools Rating

Cypress High School

  • Education Level: High
  • # of students: 2,737
  • # of teachers: 92
9
GreatSchools Rating
 

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$3,825$4,675$4,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,250
EXPENSES Loan Payment -$4,512
Property Tax -$1,242
Property Insurance -$98
Property Management Fees -$208
CASH FLOW
-$1,810

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.

$1,299,000

PROJECTED PRICE

$4,250

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,512

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$256

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,250

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $4,228

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,9003$4,2504$4,300
$4,300
RENT COMPS ANALYSIS
  • 4971 Corso Circle Cypress, CA 3
    • 5 beds 2 baths ∙ 2,950 Sqft ∙ Built 1996 5 beds 2 baths ∙ 2,950 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.44
    •  
  • 4660 Tuscani Drive Cypress, CA 1
    • 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 1996
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.38
    •  
  • 4652 Tuscani Drive Cypress, CA 2
    • 4 beds 3 baths ∙ 2,915 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,915 Sqft ∙ Built 1995
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.34
    •  
  • 4867 Tremezzo Drive Cypress, CA 4
    • 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 1994
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.58
    •  
PROPERTY LISTING DETAILS
M Michelle Berg
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21680086
Last Updated: 01/14/2021
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