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563 S Devon Road Orange, CA 92868

3 Beds 2 Baths 1,480 sqft Built 1955

$710,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $479.73
  • 7 Days on Market
  • MLS # : PW20261307
  • Updated Date : 12/21/2020 at 17:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full
Listing Agent

Nuestra Casa Realty

Listing Agent's Description

Great single story home in the city of orange 3 bedrooms and 2 bathrooms 2 car garage, walking distance to schools shoopping centers hospitals, walking trails and parks, easy acess to freeways, back yard has alot of fruit trees, nice cover patio, one of the rooms previous owners converted in to a second living room with a fireplace, bonus room next to the garage was builted by previous owner without pertmits buyer and buyer agent to do their own investigation , you have to see this house is waiting for you

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 92868

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $194k742k

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

Zip Code: 92868

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15763345

* 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
West Orange Elementary School Primary Regular 480 15 6
West Orange Elementary School Middle Regular 480 15 6
Orange High School High Regular 1,927 79 4

West Orange Elementary School

  • Education Level: Primary
  • # of students: 480
  • # of teachers: 15
6
GreatSchools Rating

West Orange Elementary School

  • Education Level: Middle
  • # of students: 480
  • # of teachers: 15
6
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$639,000$781,000$710,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,620
Property Tax -$695
Property Insurance -$62
Property Management Fees -$157
CASH FLOW
-$333

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$710,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$193,900

INVESTMENT

$193,900

Down Payment
$177,500
Rehab Estimate
$5,750
Closing Costs
$10,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $177,500
Loan Amount $532,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$33,628

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $3,275

    COMP ESTIMATED VALUE
  • $2.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$3,2003$3,3504$3,5005$3,800
$3,800
RENT COMPS ANALYSIS
  • 563 S Devon Road Orange, CA 2
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.16
    •  
  • 1910 W Palmyra Avenue Orange, CA 1
    • 3 beds 1 baths ∙ 1,359 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,359 Sqft ∙ Built 1973
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.98
    •  
  • 2379 N Flower Street Santa Ana, CA 3
    • 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1937
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.22
    •  
  • 155 N Jewell Place Orange, CA 4
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1942
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.44
    •  
  • 739 W Washington Avenue Orange, CA 5
    • 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 1968
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.21
    •  
PROPERTY LISTING DETAILS
Efrain Padilla
Nuestra Casa Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20261307
Last Updated: 12/21/2020
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