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5831 Lime Avenue Cypress, CA 90630

3 Beds 2 Baths 1,106 sqft Built 1962

$700,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $632.91
  • 5 Days on Market
  • MLS # : PW21049612
  • Updated Date : 03/11/2021 at 13:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,106 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max College Park Realty

Listing Agent's Description

Cypress – Imperial Estates: 3 Bedrooms and 1.5 Baths * 1,106 sq ft of Living Space * 6,000 sq ft Lot * Excellent Interior Location * Brand New Designer Carpet and Fresh Light Gray and White Two-tone Interior Paint throughout * Spacious Living Room * Dining Room * Open and Bright Kitchen * Interior Laundry Room * Spacious Backyard includes Patio and Storage Shed * 2 Car Garage with Extra-wide Driveway * Highly Rated Cypress Schools include Morris Elementary, Lexington Jr. High, Cypress High, Oxford Academy, and a short walk to Cypress College

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,431
Property Tax -$707
Property Insurance -$54
Property Management Fees -$123
CASH FLOW
-$796

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.

$700,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.36%

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

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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $2.28

    LIST RENT PER SQFT
  • $2,533

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,520
1$2,5202$2,6003$2,7504$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 5831 Lime Avenue Cypress, CA 1
    • 3 beds 2 baths ∙ 1,106 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,106 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $2.28
    •  
  • 5532 Newman Street Cypress, CA 2
    • 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
    •  
  • 8714 Los Altos Drive Buena Park, CA 3
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1957
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.20
    •  
  • 9758 Pauline Drive Cypress, CA 4
    • 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1965
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.24
    •  
  • 5925 Los Santos Way Buena Park, CA 5
    • 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 1955
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.36
    •  
PROPERTY LISTING DETAILS
Cary Hairabedian
Re/max College Park Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21049612
Last Updated: 03/11/2021
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