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6123 E Bryce Avenue Orange, CA 92867

4 Beds 3 Baths 2,331 sqft Built 1981

INVESTimate

$1,024,998

List Price

$3,890

$3,640 - $4,140

Rent Est.

$1,081,885  ( +5.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $439.72
  • 3 Days on Market
  • MLS # : OC20156855
  • Updated Date : 08/25/2020 at 13:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,331 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

Nestled in a quiet interior tract location of Mabury Ranch,this nicely upgraded 4bed,2 ½bath home w/3 car garage &PAID FOR SOLAR sits on a corner lot w/inviting curb appeal.Entering the home through the custom front door w/etched glass sidelights,you are greeted by vaulted ceilings &a large living &dining rm,dark laminate floors&French Doors to a side patio w/a brick mosaic &planters.The kitchen has been nicely upgraded w/dark cabinets,quartz countertops, stainless steel appliances, large tile floors, &a garden window overlooking the backyard.Also open to the kitchen is a family rm w/a cozy stacked stone fireplace&mantle,a custom office nook &a casual dining area.Sliding doors off the kitchen lead to a large back &side yard w/storage shed,room for a pool & BBQ island perfect for casual dining &entertaining.Adjacent to the family rm is a separate laundry rm,nicely appointed ½ bath &direct access to the 3 car garage.The designer touches continue upstairs where there are 4 beds including the master suite w/a sitting area w/rm for a desk/office, &a recently remodeled&luxurious bath w/a large glass enclosed shower w/subway tiles,a free standing tub,custom vanity&porcelain tile floors.The other beds share a nicely appointed full hallway bath.Other upgrades include recessed lighting,ceiling fans,dual pane windows throughout, plantation shutters,AC,&a new water heater.Close to hiking,biking &horse trails which lead to Santiago Oaks Park.Serviced by award winning Villa Park schools!

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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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Orange Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $260k1027k

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

Neighborhood: Orange Foothills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $18634135

* 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
Linda Vista Elementary School Primary Regular 483 19 7
Linda Vista Elementary School Middle Regular 483 19 7
Villa Park High School High Regular 2,475 89 8

Linda Vista Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 19
7
GreatSchools Rating

Linda Vista Elementary School

  • Education Level: Middle
  • # of students: 483
  • # of teachers: 19
7
GreatSchools Rating

Villa Park High School

  • Education Level: High
  • # of students: 2,475
  • # of teachers: 89
8
GreatSchools Rating
 

$922,498$1,127,498$1,024,998

PURCHASE PRICE

$3,501$4,279$3,890

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,890
EXPENSES Loan Payment -$3,782
Property Tax -$956
Property Insurance -$82
HOA -$60
Property Management Fees -$191
CASH FLOW
-$1,180

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,024,998

PROJECTED PRICE

$3,890

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.55%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$277,374

INVESTMENT

$277,374

Down Payment
$256,250
Rehab Estimate
$5,750
Closing Costs
$15,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,782

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $256,250
Loan Amount $768,749
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,890

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $3,875

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,5503$3,6004$3,8905$4,200
$4,200
RENT COMPS ANALYSIS
  • 6123 E Bryce Avenue Orange, 4
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $3,890
    • $1.67
    •  
  • 5024 E Valencia Drive Orange, 1
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1972
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.61
    •  
  • 5122 Glen Albyn Lane Orange, 2
    • 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 1996
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.54
    •  
  • 1319 N Navarro Place Orange, 3
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1969
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.63
    •  
  • 5928 E Bunker Hill Avenue Orange Park Acres, 5
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1977
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.87
    •  
PROPERTY LISTING DETAILS
Danny Murphy
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20156855
Last Updated: 08/25/2020
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