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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
$277,374
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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Orange Foothills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
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
| 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
INVESTMENT
$277,374
LOAN DETAILS
$3,782
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $256,250 |
| Loan Amount | $768,749 |
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
-
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
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20156855
Last Updated: 08/25/2020
