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571 N Cambridge Street Orange, CA 92867

3 Beds 2 Baths 1,586 sqft Built 1949

$799,900

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $504.35
  • 4 Days on Market
  • MLS # : PW20254841
  • Updated Date : 12/10/2020 at 19:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,586 sqft
  • Baths : 2 full
Listing Agent

Ricci Realty

Listing Agent's Description

JUST OUTSIDE OF OLD TOWN, THIS MID CENTRY MODERN HAS MANY CUSTOM FEATURES. IT IS A 3 BEDROOM BUT THERE IS A FAMILY ROOM WITH A FIREPLACE THATCOULD BE A 4TH BEDROOM. THE DROUGHT TOLLERANT CALIFORNIA NATIVE FRONT YARD IS BEAUTIFUL AND EASY TO MAINTAIN ACCENTED WITH SPLIT RAIL FENCING AND EXOTIC CATUS. THE FRONT PORCH DECK IS COVERED TO ENJOY THE GREAT NEIGHBORHOOD! QUALITY WOOD FLOORS ACCENT THE OPEN FLOOR PLAN OF THE LIVING ROOM, DINING AREA AND KITCHEN. LED LIGHTING AND CEILING FANS SET THE MOOD. THE MASTER SUITE HAS AN ENSUITE BATH WITH CUSTON TILE SHOWER AND LOTS OF CLOSET SPACE. DON'T MISS THE ORANGE HIGH BEDROOM. VERY FLEXIBLE FLOORPLAN DEPENDING UPON YOUR BEDROOM NEEDS. MAIN BATH FEATURES A VINTAGE CLAWFOOT TUB W/SHOWER. A SMALL UTILITY BASEMENT IS THE HOME FOR THE FORCED AIR UNIT AND THE TANKLESS HOT WATER HEATER. THE REAR YARD HAS A HUGE COVERD PATIO AND TRELLIS AREA. WALKWAYS AND PATHS AROUND FRUIT TREES AND BLOOMING SHRUBS. THIS IS TRUELY AND ENTERTAINERS OR STAYCATION REAR YARD. A QUAILTY BUILT STORAGE SHED FOR THE LAWN TOOLS. THERE IS ALSO A CASITA AND A 96 SQ.FT BONUS ROOM THAT CAN BE USED AS A CRAFT ROOM/OFFICE. IF YOU ARE LOOKING FOR CHARACTER, THIS HOME HAS IT ALL.

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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: 92867

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k813k

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443604

* 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
Cambridge Elementary School Primary Regular 525 19 2
Yorba Middle School Middle Regular 582 26 5
Orange High School High Regular 1,927 79 4

Cambridge Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 19
2
GreatSchools Rating

Yorba Middle School

  • Education Level: Middle
  • # of students: 582
  • # of teachers: 26
5
GreatSchools Rating

Orange High School

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

$719,910$879,890$799,900

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$2,951
Property Tax -$783
Property Insurance -$64
Property Management Fees -$159
CASH FLOW
-$718

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.

$799,900

PROJECTED PRICE

$3,240

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.1%
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$20k

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$217,724

INVESTMENT

$217,724

Down Payment
$199,975
Rehab Estimate
$5,750
Closing Costs
$11,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,951

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,975
Loan Amount $599,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$10,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $3,493

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,2404$3,4955$3,500
$3,500
RENT COMPS ANALYSIS
  • 571 N Cambridge Street Orange, CA 3
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1949
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $2.04
    •  
  • 328 S California Street Orange, CA 1
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1961
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
  • 801 N Waverly Street Orange, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 870 N Waverly Street Orange, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.33
    •  
  • 924 E Rose Avenue Orange, CA 5
    • 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1952
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.32
    •  
PROPERTY LISTING DETAILS
Albert Ricci
Ricci Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20254841
Last Updated: 12/10/2020
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