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PROPERTY INFO
FACTS
- Single Family
- Built In 1969
- Price/Sqft : $440.22
- 6 Days on Market
- MLS # : PW21002229
- Updated Date : 01/09/2021 at 08:41
CONSTRUCTION
- Beds : 4
- Floor Size : 2,158 sqft
- Baths : 2 full , 1 half
Listing Agent
Remax Tiffany Real Estate
Listing Agent's Description
This is the home for YOU!! Large family home that has many recent upgrades. From the time you enter the double front doors, you will delight in the step down living room with fireplace surrounded by built in shelves and mantle, perfect for decorating for all the holidays. Next you will see a formal dining room that you can feel the love of family surrounding it. It has also been a great classroom during the last year! The kitchen is combined with the Family room with a counter for casual eating and watching TV. Recessed lighting throughout this area. The flooring is dark wood laminate and easy to care for. Sliding door from family room leads to an impressive backyard with artificial turf, custom storage shed and on the side yard you have a gated pool for relaxing and entertaining. The 4 bedrooms are upstairs and all have new 2 panel doors, new closet doors and shelves plus newer carpet. The master bedroom has a walk-in closet with custom barn door and a second closet with custom built-ins and dressing area. All bathrooms have recently been remodeled. This home has an oversized 3 car garage, 728 Sq. Ft., and large lot, 6716 Sq. Ft., Tile roof and front porch! Please check back on Friday to see professional pictures!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cypress
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,510 |
| EXPENSES | Loan Payment | -$3,300 |
| Property Tax | -$959 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$172 | |
|
CASH FLOW
-$1,000
|
||
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.
$950,000
PROJECTED PRICE
$3,510
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$257,500
LOAN DETAILS
$3,300
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $237,500 |
| Loan Amount | $712,500 |
0.92
YEARS SAVED
$3,463
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,510
LIST RENT -
$1.63
LIST RENT PER SQFT
-
$3,625
COMP ESTIMATED VALUE -
$1.68
COMP AVG. RENT PER SQFT
Comps Range
-
5965 Rexford Avenue Cypress, CA 3
- 4 beds 3 baths ∙ 2,158 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,158 Sqft ∙ Built 1969
- Rent
- Rent Per SQFT
- $3,510
- $1.63
-
5802 Myra Avenue Cypress, CA 1
- 3 beds 1 baths ∙ 1,820 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,820 Sqft ∙ Built 1969
LEASED 08/18/19- Rent
- Rent Per SQFT
- $3,100
- $1.70
-
6064 Lawrence Street Cypress, CA 2
- 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 1969
LEASED 10/02/20- Rent
- Rent Per SQFT
- $3,300
- $1.66
-
5761 Myra Avenue Cypress, CA 4
- 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969
LEASED 12/19/20- Rent
- Rent Per SQFT
- $3,650
- $1.67
-
10161 Saltair Drive Cypress, CA 5
- 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969
LEASED 08/21/20- Rent
- Rent Per SQFT
- $3,700
- $1.69
PROPERTY LISTING DETAILS
Remax Tiffany Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21002229
Last Updated: 01/09/2021
