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6246 E Cliffway Drive Orange, CA 92869

4 Beds 2 Baths 2,218 sqft Built 1996

$985,000

List Price

$3,470

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $444.09
  • 120 Days on Market
  • MLS # : PW20190750
  • Updated Date : 12/22/2020 at 05:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,218 sqft
  • Baths : 1 full , 1 half
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Located in the exclusive gated community of Prospect Hills, this stunning 4-bedroom, 3-bath and 3-car garage VIEW home is located on a single-loaded street. A welcoming curbside approach boasts a meticulously manicured yard and private entryway. Enter through double doors into a turn-key two-story home, where you are greeted by soaring ceilings and exquisite hardwood flooring. The spacious downstairs living and dining spaces feature large, picturesque windows that draw in tremendous natural light and stunning views from Newport Beach to Palos Verdes. The beautifully laid out kitchen with sparkling white cabinetry, granite counters and travertine backsplash overlooks the family room, ideal for warming up by the fireplace! Step out to a well-manicured entertainer’s backyard featuring lemon and kumquat trees, and plenty of room for fun. A beautiful staircase guides you upstairs where you'll find four spacious bedrooms, including the Master Suite with private balcony to enjoy sunsets and Disneyland fireworks, in addition to a large walk-in closet, and ensuite bathroom featuring sunken tub, dual vanities and heated tile flooring. Additional upgrades include fresh paint, new carpet, reverse osmosis filtration system, whole house fan, soft water system, alarm system and much more. Centrally located to top rated schools, shopping and restaurants, this unique home is in a community that shares space with custom estates. Schedule an appointment today!

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

Neighborhood: Orange Park Acres

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $260k922k

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

Neighborhood: Orange Park Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18633900

* 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
El Modena High School High Regular 2,196 89 7

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

El Modena High School

  • Education Level: High
  • # of students: 2,196
  • # of teachers: 89
7
GreatSchools Rating
 

$886,500$1,083,500$985,000

PURCHASE PRICE

$3,123$3,817$3,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$3,421
Property Tax -$919
Property Insurance -$79
HOA -$151
Property Management Fees -$170
CASH FLOW
-$1,270

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.

$985,000

PROJECTED PRICE

$3,470

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$266,775

INVESTMENT

$266,775

Down Payment
$246,250
Rehab Estimate
$5,750
Closing Costs
$14,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $246,250
Loan Amount $738,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,470

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $3,809

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3503$3,4704$4,0005$4,300
$4,300
RENT COMPS ANALYSIS
  • 6246 E Cliffway Drive Orange, CA 3
    • 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $1.56
    •  
  • 5830 E Indigo Court Orange, CA 1
    • 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 1996
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.66
    •  
  • 192 N Roth Lane Orange, CA 2
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1978
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.60
    •  
  • 6421 E Kings Crown Road Orange, CA 4
    • 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 1987
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.78
    •  
  • 6238 E Cliffway Drive Orange, CA 5
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1996
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.83
    •  
PROPERTY LISTING DETAILS
Celine Blackley
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20190750
Last Updated: 12/22/2020
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