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647 Willow Drive Brea, CA 92821

4 Beds 2 Baths 1,455 sqft Built 1956

$714,900

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $491.34
  • 3 Days on Market
  • MLS # : PW21057767
  • Updated Date : 03/19/2021 at 20:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,455 sqft
  • Baths : 1 full , 1 half
Listing Agent

Imperial Real Estate

Listing Agent's Description

Great single story 4 bed / 2 bath home located near the Target shopping center and Brea Mall, Downtown Brea, and Laurel Elementary school. The property has recently been refurbished with new kitchen, new flooring, painted inside & out, original hardwood floors refinished, new HVAC and more. the property has good sized front and back yards. Something you don't see very often in California is a basement. This property has an approx. 193 s.f. unfinished basement which is not included in the 1455 square footage. Come take a look before its gone.

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: Downtown Brea

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $215k742k

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

Neighborhood: Downtown Brea

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $16153345

* 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
Brea Junior High School Middle Regular 891 32 8
Brea-olinda High School High Regular 1,895 68 9

Brea Junior High School

  • Education Level: Middle
  • # of students: 891
  • # of teachers: 32
8
GreatSchools Rating

Brea-olinda High School

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

$643,410$786,390$714,900

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,483
Property Tax -$734
Property Insurance -$62
Property Management Fees -$134
CASH FLOW
-$683

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.

$714,900

PROJECTED PRICE

$2,730

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$195,199

INVESTMENT

$195,199

Down Payment
$178,725
Rehab Estimate
$5,750
Closing Costs
$10,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,483

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $178,725
Loan Amount $536,175
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $2,819

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,685
1$2,6852$2,7303$2,9004$3,0005$3,095
$3,095
RENT COMPS ANALYSIS
  • 647 Willow Drive Brea, CA 2
    • 4 beds 2 baths ∙ 1,455 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,455 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $1.88
    •  
  • 800 E Date Street Brea, CA 1
    • 3 beds 1 baths ∙ 1,417 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,417 Sqft ∙ Built 1950
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,685
    • $1.89
    •  
  • 2983 Gingerwood Circle Fullerton, CA 3
    • 4 beds 2 baths ∙ 1,407 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,407 Sqft ∙ Built 1973
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.06
    •  
  • 215 Camphor Circle Brea, CA 4
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1971
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.86
    •  
  • 177 Eastwood Place Brea, CA 5
    • 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1965
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.94
    •  
PROPERTY LISTING DETAILS
Craig Allred
Imperial Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21057767
Last Updated: 03/19/2021
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