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PROPERTY INFO
FACTS
- Single Family
- Built In 1964
- Price/Sqft : $463.43
- 6 Days on Market
- MLS # : OC21031244
- Updated Date : 02/20/2021 at 10:19
CONSTRUCTION
- Beds : 4
- Floor Size : 1,996 sqft
- Baths : 2 full
Listing Agent
Bullmark Real Estate Group
Listing Agent's Description
Turnkey single family home centrally located in the City of Cypress. 4 Bed, 2 Bath Home has 2 generously sized first level bedrooms and 2 on the second floor. Many upgrades throughout including new exterior stucco, new a/c unit, upgraded kitchen, front yard landscaping, recessed lighting, upgraded flooring, and paint. Plenty of natural light leads into the living room. The kitchen is well appointed with granite countertops and newer cabinetry. Convenient slider door access leads to the backyard to a built-in pool and area for entertaining. The home is located in a desirable neighborhood that has award-winning schools, nearby Oxford Academy, and a community park. Convenient access to retail shops, restaurants, freeway access, and more!
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MARKET HIGHLIGHTS
- 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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Cypress
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cypress
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,230 |
| EXPENSES | Loan Payment | -$3,213 |
| Property Tax | -$889 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$1,105
|
||
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.
$925,000
PROJECTED PRICE
$3,230
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$250,875
LOAN DETAILS
$3,213
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $231,250 |
| Loan Amount | $693,750 |
0.42
YEARS SAVED
$1,229
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,230
LIST RENT -
$1.62
LIST RENT PER SQFT
-
$3,608
COMP ESTIMATED VALUE -
$1.81
COMP AVG. RENT PER SQFT
Comps Range
-
4981 Lemon Avenue Cypress, CA 3
- 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1964
- Rent
- Rent Per SQFT
- $3,230
- $1.62
-
4971 Newman Avenue Cypress, CA 1
- 5 beds 3 baths ∙ 1,803 Sqft ∙ Built 1965 5 beds 3 baths ∙ 1,803 Sqft ∙ Built 1965
LEASED 05/31/20- Rent
- Rent Per SQFT
- $3,200
- $1.77
-
5033 Oxford Drive Cypress, CA 2
- 4 beds 3 baths ∙ 1,659 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,659 Sqft ∙ Built 1964
LEASED 05/08/20- Rent
- Rent Per SQFT
- $3,200
- $1.93
-
4595 Maybury Circle Cypress, CA 4
- 5 beds 3 baths ∙ 1,943 Sqft ∙ Built 1968 5 beds 3 baths ∙ 1,943 Sqft ∙ Built 1968
LEASED 07/25/20- Rent
- Rent Per SQFT
- $3,350
- $1.72
-
9313 Ethel Street Cypress, CA 5
- 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 1965
LEASED 02/03/21- Rent
- Rent Per SQFT
- $3,500
- $1.81
PROPERTY LISTING DETAILS
Bullmark Real Estate Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21031244
Last Updated: 02/20/2021
