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515 Briarwood Drive Brea, CA 92821

4 Beds 2 Baths 1,808 sqft Built 1958

$825,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $456.31
  • 6 Days on Market
  • MLS # : PW21048870
  • Updated Date : 03/13/2021 at 15:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,808 sqft
  • Baths : 2 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

Beautiful SINGLE STORY on one of the most desirable streets in all of Brea! Spacious Ranch style home with 4 Bed, 2 Bath, 1808 SF, 7654 Lot. The interior of the home has original hardwood floors under existing carpet. These floors can be easily refinished to look brand new if desired. Lots of natural lighting with new interior paint. The spacious kitchen includes plenty of storage, formal living room, built in bookshelves and family room. Beautiful backyard landscaping taken care of by a meticulous owner that loved gardening, concrete patio, orange, tangerine, avocado trees, RV/Boat parking, attached shed and 2 car garage. This home is in the Brea Olinda School District and is located close to Arovista Park, Brea Skate Park, Brea Creek Golf Course, Brea Mall, Birch St Promenade District with popular restaurants and entertainment. 57 freeway is approximately a ten minute drive. This is a lovely family home in a highly coveted neighborhood you will enjoy for many years. Note: Title has the home recorded as a 3 bedroom but it has always been a 4 bedroom home. Once the home is appraised title will correct the error.

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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: 92821

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92821

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
Brea Junior High School Middle Regular 891 32 8
Brea-olinda High School High Regular 1,895 68 9

Brea Junior High School

  • Education Level: Middle
  • # of students: 891
  • # of teachers: 32
8
GreatSchools Rating

Brea-olinda High School

  • Education Level: High
  • # of students: 1,895
  • # of teachers: 68
9
GreatSchools Rating
 

$742,500$907,500$825,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,866
Property Tax -$826
Property Insurance -$71
Property Management Fees -$146
CASH FLOW
-$928

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.

$825,000

PROJECTED PRICE

$2,980

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.7%
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$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,866

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $3,033

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,980
1$2,9802$3,0003$3,2004$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 515 Briarwood Drive Brea, CA 1
    • 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.65
    •  
  • 444 Laurel Avenue Brea, CA 2
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 1948 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 1948
    property image
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.65
    •  
  • 3813 Tunales Drive Fullerton, CA 3
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1954 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1954
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.60
    •  
  • 829 Bernard Drive Fullerton, CA 4
    • 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 1964
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.65
    •  
  • 747 Arroues Drive Fullerton, CA 5
    • 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1975
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.81
    •  
PROPERTY LISTING DETAILS
Lisa Bryant
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21048870
Last Updated: 03/13/2021
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