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6368 Mount Ripley Drive Cypress, CA 90630

4 Beds 2 Baths 1,689 sqft Built 1965

$839,900

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $497.28
  • 6 Days on Market
  • MLS # : PW20241768
  • Updated Date : 11/18/2020 at 12:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,689 sqft
  • Baths : 2 full
Listing Agent

2020 Realty & Investment

Listing Agent's Description

Beautiful 4 bedroom, 2 bath, single story home in the popular Lake Park Homes with Oxford& Cypress school district. This home has been remodeled and updated to current comfort living style. Spacious living room with built-in bar cabinet, new wine refrigerator, and recessed lighting. Kitchen with maple cabinets, quartz counter top w/ breakfast bar, mosaic tile back splash, new stainless steel stove & cook top, new range hood & new style deep sink. Big windows by the sink provide natural light and view of the greens outside. Extra maple cupboards & new patio door to side yard. Dining room with a hanging ceiling light, a large bay window, and mirrored wall. Family room also add recessed lightings, a cozy fireplace with design tile from floor to ceiling & hearth and double French door to the backyard. Master bedroom with walk-in closet. Remodeled master bath with huge walk-in shower with clear frameless glass enclosure, a quartz counter top vanity with his and hers dual sink, and a hanging barn style bathroom doors. All bedrooms have ceiling fan & new mirrored wardrobe. Hallway bathroom has a new vanity, lighting fixture, add two recessed lighting & glass tile accent. Another mirrored décor wall in hall way & skylight in entrance. Double pane windows throughout and new floor with water proof laminated planks throughout. Tile floor in bathrooms. Large covered patio& good size of backyard for outdoor entertaining. Great location close to Cypress College, dining and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Holder Elementary School Primary Regular 444 18 6
Lexington Junior High School Middle Regular 1,275 44 8
Cypress High School High Regular 2,737 92 9

Holder Elementary School

  • Education Level: Primary
  • # of students: 444
  • # of teachers: 18
6
GreatSchools Rating

Lexington Junior High School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 44
8
GreatSchools Rating

Cypress High School

  • Education Level: High
  • # of students: 2,737
  • # of teachers: 92
9
GreatSchools Rating
 

$755,910$923,890$839,900

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$3,099
Property Tax -$862
Property Insurance -$68
Property Management Fees -$147
CASH FLOW
-$1,166

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.

$839,900

PROJECTED PRICE

$3,010

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-$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$228,324

INVESTMENT

$228,324

Down Payment
$209,975
Rehab Estimate
$5,750
Closing Costs
$12,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $209,975
Loan Amount $629,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,057

    COMP ESTIMATED VALUE
  • $1.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9903$3,0104$3,1005$3,250
$3,250
RENT COMPS ANALYSIS
  • 6368 Mount Ripley Drive Cypress, CA 3
    • 4 beds 2 baths ∙ 1,689 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,689 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $1.78
    •  
  • 5702 Cynthia Lane Cypress, CA 1
    • 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1962
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.81
    •  
  • 9767 Graham Street Cypress, CA 2
    • 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1967
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.90
    •  
  • 9656 Kathleen Drive Cypress, CA 4
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1966
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.71
    •  
  • 10440 Rexford Court Cypress, CA 5
    • 3 beds 1 baths ∙ 1,781 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,781 Sqft ∙ Built 1969
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.82
    •  
PROPERTY LISTING DETAILS
Jamie Yiang
2020 Realty & Investment
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20241768
Last Updated: 11/18/2020
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