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5492 Myra Avenue Cypress, CA 90630

4 Beds 2 Baths 2,150 sqft Built 1961

$919,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $427.44
  • 19 Days on Market
  • MLS # : OC21138341
  • Updated Date : 07/08/2021 at 08:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,150 sqft
  • Baths : 2 full
Listing Agent

Re/max Tiffany Real Estate

Listing Agent's Description

Beautiful, expanded Cypress Brentwood home! 4 bedrooms, 2 full bathrooms, and 2150sqft of living space on a single level! North-facing! So much room to entertain with this enormous, fantastic great room addition! Gorgeous wood and wood-style flooring throughout most of the home (including underneath the carpet in the hall). Spacious master bedroom suite, featuring a walk-in closet, jacuzzi tub, and steam shower. Large kitchen with so much cabinet and counter top space, plus a HUGE walk-in pantry! Beautifully remodeled fireplace in the living room. Central A/C, dual pane windows throughout, and ceiling fans in every room! Overhead, recessed lighting throughout the home! Fruit trees! Including avocado, lemon, lime, two types of orange trees, and tangelos. RV parking access, which opens to Walker! Walk to schools, parks, restaurants, and shopping! Walk to Costco! Award-winning Cypress schools! Vessels Elementary, Lexington Jr. High, Cypress HS, and Oxford Academy eligible (with testing)! Check out our 3D virtual tour!

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MARKET HIGHLIGHTS

  • 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.
  • 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]

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
Lexington Junior High School Middle Regular 1,275 44 8
Cypress High School High Regular 2,737 92 9
Lexington Junior High School Middle Unknown NA

Lexington Junior High School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 44
8
GreatSchools Rating

Cypress High School

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

Lexington Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$827,100$1,010,900$919,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$3,192
Property Tax -$928
Property Insurance -$79
Property Management Fees -$177
CASH FLOW
-$756

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.

$919,000

PROJECTED PRICE

$3,620

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$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$249,285

INVESTMENT

$249,285

Down Payment
$229,750
Rehab Estimate
$5,750
Closing Costs
$13,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,192

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $229,750
Loan Amount $689,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$10,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,620

    LIST RENT
  • $1.68

    LIST RENT PER SQFT
  • $3,639

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$3,550
1$3,5502$3,6203$3,6504$3,7005$3,700
$3,700
RENT COMPS ANALYSIS
  • 5492 Myra Avenue Cypress, CA 2
    • 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,620
    • $1.68
    •  
  • 5822 Newman Street Cypress, CA 1
    • 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 1965
    property image
    LEASED 06/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.68
    •  
  • 5761 Myra Avenue Cypress, CA 3
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.67
    •  
  • 10161 Saltair Drive Cypress, CA 4
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.69
    •  
  • 5084 Melbourne Drive Cypress, CA 5
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1964
    property image
    LEASED 03/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.73
    •  
PROPERTY LISTING DETAILS
Christine Watkinsmiller
Re/max Tiffany Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21138341
Last Updated: 07/08/2021
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