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512 Firestone Lane Placentia, CA 92870

4 Beds 3 Baths 2,519 sqft Built 1999

$889,000

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $352.92
  • 3 Days on Market
  • MLS # : PW21009759
  • Updated Date : 01/15/2021 at 14:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,519 sqft
  • Baths : 3 full
Listing Agent

Major League Properties

Listing Agent's Description

Wonderful opportunity to own gorgeous Alta Vista South home featuring 2519 living square feet with 4 bedrooms, loft and 3 full bathrooms. This property offers numerous upgrades and amenities including: a beautiful kitchen with granite countertops, large island bar, stainless steel sink, black appliances, open to famly room with granite faced fireplace plus custom mantel, living and dining room offer high ceilings, gorgeous hardwood floors on downstairs level, plantation shutters throughout, downstairs bedroom(no closet) and 3/4 bathroom, 3 spacious bedrooms plus a loft 3 and laundry room upstairs, large main bedroom suite with coffered ceilings, and large walk in closet, 3 car split garage with lots of storage, newly painted exterior, brick entry and yard accents, backyard with alumawood patio cover, built in BBQ with island and numerous fruit trees on the property, award winning schools, association pool and spa with low monthly dues.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 92870

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92870

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
Tynes Elementary School Primary Magnet 824 30 7
Kraemer Middle School Middle Magnet 952 38 7
Valencia High School High Magnet 2,740 100 9

Tynes Elementary School

  • Education Level: Primary
  • # of students: 824
  • # of teachers: 30
7
GreatSchools Rating

Kraemer Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 38
7
GreatSchools Rating

Valencia High School

  • Education Level: High
  • # of students: 2,740
  • # of teachers: 100
9
GreatSchools Rating
 

$800,100$977,900$889,000

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$3,088
Property Tax -$910
Property Insurance -$88
HOA -$67
Property Management Fees -$170
CASH FLOW
-$862

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.

$889,000

PROJECTED PRICE

$3,460

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.5%
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

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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$241,335

INVESTMENT

$241,335

Down Payment
$222,250
Rehab Estimate
$5,750
Closing Costs
$13,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,088

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $222,250
Loan Amount $666,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$5,041

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,460

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $3,690

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,450
1$3,4502$3,4603$3,5004$3,5005$3,650
$3,650
RENT COMPS ANALYSIS
  • 512 Firestone Lane Placentia, CA 2
    • 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $1.37
    •  
  • 307 Atchley Lane Placentia, CA 1
    • 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 2001
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.44
    •  
  • 5545 Greenwich Circle Yorba Linda, CA 3
    • 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 1983
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.55
    •  
  • 914 Pebble Beach Place Placentia, CA 4
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2000
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.51
    •  
  • 1038 Kemp Drive Placentia, CA 5
    • 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2001
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.36
    •  
PROPERTY LISTING DETAILS
Matt Luke
Major League Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21009759
Last Updated: 01/15/2021
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