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5242 Myra Avenue Cypress, CA 90630

3 Beds 2 Baths 1,050 sqft Built 1962

$680,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
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

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

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
Frank Vessels Elementary School Primary Regular 694 25 9
Frank Vessels Elementary School Middle Regular 694 25 9
Cypress High School High Regular 2,737 92 9

Frank Vessels Elementary School

  • Education Level: Primary
  • # of students: 694
  • # of teachers: 25
9
GreatSchools Rating

Frank Vessels Elementary School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 25
9
GreatSchools Rating

Cypress High School

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

$612,000$748,000$680,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

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

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

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$185,950

INVESTMENT

$185,950

Down Payment
$170,000
Rehab Estimate
$5,750
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

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
$2,600
1$2,6002$2,6403$2,7504$2,7505$2,790
$2,790
RENT COMPS ANALYSIS
  • 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
Anthony Self
Harcourts Hunter Mason Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV20241894
Last Updated: 11/21/2020
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