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619 Candlewood Street Brea, CA 92821

4 Beds 2 Baths 1,599 sqft Built 1966

$740,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $462.79
  • 4 Days on Market
  • MLS # : AR20238818
  • Updated Date : 11/13/2020 at 11:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,599 sqft
  • Baths : 2 full
Listing Agent

Moon Realty

Listing Agent's Description

Welcome home to 619 Candlewood St. This home is located in a desirable neighborhood in the beautiful city of Brea with wonderful eateries, shopping, and amazing schools within a mile away. Upon entering you will be welcomed into an inviting bright living room with plantation shutters and a wood burning fireplace. This home features 4 generously sized bedrooms, 2 full baths, and a cozy bonus room perfect for a little play area, home office, or video gaming room. There is a bedroom and full bath downstairs. The house has been updated with fresh paint, upgraded kitchen, wood floors, updated bathrooms, newer roof, solar panels paid off upon purchase, and a newer AC unit. If you like to stay home and have some activity, there is a pool out back for you to get a workout in or entertain your friends. Come and make this gem yours.

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

Zip Code: 92821

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92821

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
William E. Fanning Elementary School Primary Regular 465 16 9
William E. Fanning Elementary School Middle Regular 465 16 9
Brea-olinda High School High Regular 1,895 68 9

William E. Fanning Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 16
9
GreatSchools Rating

William E. Fanning Elementary School

  • Education Level: Middle
  • # of students: 465
  • # of teachers: 16
9
GreatSchools Rating

Brea-olinda High School

  • Education Level: High
  • # of students: 1,895
  • # of teachers: 68
9
GreatSchools Rating
 

$666,000$814,000$740,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,730
Property Tax -$742
Property Insurance -$66
Property Management Fees -$146
CASH FLOW
-$704

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.

$740,000

PROJECTED PRICE

$2,980

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.7%
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$15k

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$201,850

INVESTMENT

$201,850

Down Payment
$185,000
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $185,000
Loan Amount $555,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$7,743

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $1.86

    LIST RENT PER SQFT
  • $3,102

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9803$3,0004$3,0955$3,175
$3,175
RENT COMPS ANALYSIS
  • 619 Candlewood Street Brea, CA 2
    • 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.86
    •  
  • 1100 Mariposa Drive Brea, CA 1
    • 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1963
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.95
    •  
  • 215 Camphor Circle Brea, CA 3
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1971
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.86
    •  
  • 177 Eastwood Place Brea, CA 4
    • 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1965
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.94
    •  
  • 270 Creekwood Court Brea, CA 5
    • 3 beds 1 baths ∙ 1,577 Sqft ∙ Built 1980 3 beds 1 baths ∙ 1,577 Sqft ∙ Built 1980
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,175
    • $2.01
    •  
PROPERTY LISTING DETAILS
La My Tung
Moon Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR20238818
Last Updated: 11/13/2020
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