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6076 Palau Street Cypress, CA 90630

3 Beds 1 Baths 1,626 sqft Built 1970

$840,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $516.61
  • 6 Days on Market
  • MLS # : OC21015609
  • Updated Date : 02/06/2021 at 18:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,626 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Very Nice area of Cypress near Maple Grove Park South and Patton Elementary School, as well as the Navy Golf course. This inviting homes welcomes you with a formal entrance and just off the entrance is the addition giving a living room with a beautiful stone fireplace and wall-to-wall bookshelves, office, play room or whatever your imagination can come up with and a nice seated window overlooking the well landscaped front lawn. As you come past the living room you come upon the welcoming family room with its own fireplace and sits adjacent to the dining room and kitchen. Yes, there are 2 fireplaces in this lovely home. The kitchen and dining area are open to each other with a breakfast bar and amazing large kitchen with great counter space and lots of cupboards for storage. The 3 bedroom 2 bath home offers a murphy bed in one bedroom that also can be used as an office/guest room. Don't forget the extra storage in the garage and a nice landscaped backyard with a covered patio. Mrs Clean lives in this amazing home!

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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

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
Bell Intermediate School Middle Regular 676 25 9
Pacifica High School High Regular 1,773 75 9

Bell Intermediate School

  • Education Level: Middle
  • # of students: 676
  • # of teachers: 25
9
GreatSchools Rating

Pacifica High School

  • Education Level: High
  • # of students: 1,773
  • # of teachers: 75
9
GreatSchools Rating
 

$756,000$924,000$840,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,918
Property Tax -$848
Property Insurance -$66
Property Management Fees -$149
CASH FLOW
-$941

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.

$840,000

PROJECTED PRICE

$3,040

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$228,350

INVESTMENT

$228,350

Down Payment
$210,000
Rehab Estimate
$5,750
Closing Costs
$12,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,918

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $210,000
Loan Amount $630,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,965

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $3,073

    COMP ESTIMATED VALUE
  • $1.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0003$3,0004$3,0405$3,300
$3,300
RENT COMPS ANALYSIS
  • 6076 Palau Street Cypress, CA 4
    • 3 beds 1 baths ∙ 1,626 Sqft ∙ Built 1970 3 beds 1 baths ∙ 1,626 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $1.87
    •  
  • 11381 Montserrat Street Cypress, CA 1
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1972
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.80
    •  
  • 11375 Harkers Court Cypress, CA 2
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1974
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.85
    •  
  • 6547 Reefton Avenue Cypress, CA 3
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1972
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.07
    •  
  • 6391 Cantiles Avenue Cypress, CA 5
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1972
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.84
    •  
PROPERTY LISTING DETAILS
Wendy Legerton
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21015609
Last Updated: 02/06/2021
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