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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $647.62
- 6 Days on Market
- MLS # : PV20241894
- Updated Date : 11/21/2020 at 10:48
CONSTRUCTION
- Beds : 3
- Floor Size : 1,050 sqft
- Baths : 1 full , 1 half
Listing Agent
Harcourts Hunter Mason Realty
Listing Agent's Description
Beautiful corner lot home in coveted Cypress neighborhood. 3 bedroom, 2 bathrooms with private in-ground pool. Enjoy this large lot with impressive driveway to an attached two-car garage. The kitchen is updated with butcher block counter tops and stainless steel appliances. Main bath includes jacuzzi bath tub. The home is equipped with central air conditioning and forced air heat. This comfortable house also includes laminate flooring throughout and a fireplace. Enjoy the large, renovated backyard with plenty of room for entertaining and fenced-in pool. Nice wide driveway with attached two car garage. This home is centrally located with shopping close by and easy access to all the major freeways in Orange County. Conveniently located close to Award Winning Cypress Schools
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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
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 | $2,640 |
| EXPENSES | Loan Payment | -$2,509 |
| Property Tax | -$687 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$737
|
||
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.
$680,000
PROJECTED PRICE
$2,640
PROJECTED RENT
0.39%
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
$185,950
LOAN DETAILS
$2,509
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $170,000 |
| Loan Amount | $510,000 |
1.08
YEARS SAVED
$3,795
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,640
LIST RENT -
$2.51
LIST RENT PER SQFT
-
$2,405
COMP ESTIMATED VALUE -
$2.29
COMP AVG. RENT PER SQFT
Comps Range
-
5242 Myra Avenue Cypress, CA 2
- 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $2,640
- $2.51
-
5532 Newman Street Cypress, CA 1
- 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1956
LEASED 04/24/20- Rent
- Rent Per SQFT
- $2,600
- $2.36
-
6240 Myra Avenue Buena Park, CA 3
- 4 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959
LEASED 04/10/20- Rent
- Rent Per SQFT
- $2,750
- $2.31
-
10312 Lorinda Avenue Buena Park, CA 4
- 4 beds 2 baths ∙ 1,187 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,187 Sqft ∙ Built 1959
LEASED 04/14/20- Rent
- Rent Per SQFT
- $2,750
- $2.32
-
5142 Belle Avenue Cypress, CA 5
- 3 beds 1 baths ∙ 1,287 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,287 Sqft ∙ Built 1961
LEASED 04/12/20- Rent
- Rent Per SQFT
- $2,790
- $2.17
PROPERTY LISTING DETAILS
Harcourts Hunter Mason Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PV20241894
Last Updated: 11/21/2020
