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643 E Wilson Avenue Orange, CA 92867

4 Beds 2 Baths 1,875 sqft Built 1959

$875,000

List Price

$3,470

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $466.67
  • 9 Days on Market
  • MLS # : PW21010638
  • Updated Date : 01/27/2021 at 06:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,875 sqft
  • Baths : 2 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Located 1.9 miles from the heart of Old Towne Orange, THIS IS THE HOME you have been waiting for. Recently remodeled, this single-story, mid-century charmer features 4-bedrooms and 2 baths. Upon entering, you are greeted by the open concept floor plan and unique split level design of the home. The sizable living room showcases a statement fireplace to cozy up by. Make your way into the formal dining room which features a modern sputnik chandelier. The airy kitchen offers ample cabinet storage and counter space as well as stainless steel appliances. The layout of the kitchen and dining room make it ideal for hosting. Just outside the kitchen is a hallway that leads to a full bath, two substantial bedrooms, and the master bedroom which includes an en-suite bath with a double vanity. The family room features a vaulted, beamed ceiling and a sliding door that leads you to the outdoor space, perfect for entertaining. Enjoy the beautiful California climate as you lounge by your private pool or under the covered patio. Just off the family room is a bedroom, which shares the same vaulted, beamed ceiling. This private bedroom could make a great office, guest bedroom, workout room… the options are endless! The laundry room is nearby the kitchen and has access to the backyard. House includes an attached 2-car garage and has solar panels installed on the roof. Great location, close to shopping, dining, parks, and more! This beautiful home is bound to go quickly!

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Zip Code: 92867

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k813k

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

Zip Code: 92867

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443604

* 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
California Elementary School Primary Regular 654 23 4
Yorba Middle School Middle Regular 582 26 5
Orange High School High Regular 1,927 79 4

California Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 23
4
GreatSchools Rating

Yorba Middle School

  • Education Level: Middle
  • # of students: 582
  • # of teachers: 26
5
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$787,500$962,500$875,000

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 -$3,039
Property Tax -$849
Property Insurance -$71
Property Management Fees -$170
CASH FLOW
-$659

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.

$875,000

PROJECTED PRICE

$3,470

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.1%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$12,695

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
  • $1.85

    LIST RENT PER SQFT
  • $3,820

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,450
1$3,4502$3,4703$3,6504$3,6955$4,000
$4,000
RENT COMPS ANALYSIS
  • 643 E Wilson Avenue Orange, CA 2
    • 4 beds 2 baths ∙ 1,875 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,875 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $1.85
    •  
  • 1171 N California Street Orange, CA 1
    • 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1973
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.78
    •  
  • 1429 E Lomita Avenue Orange, CA 3
    • 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1956
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.07
    •  
  • 1735 N Greengrove Street Orange, CA 4
    • 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 1962
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $2.11
    •  
  • 831 E Hoover Avenue Orange, CA 5
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1961
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.19
    •  
PROPERTY LISTING DETAILS
Gregory Hendrickson
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21010638
Last Updated: 01/27/2021
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