Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

651 Oleander Street Brea, CA 92821

4 Beds 3 Baths 1,745 sqft Built 1971

$699,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $400.57
  • 4 Days on Market
  • MLS # : NP20251142
  • Updated Date : 12/03/2020 at 20:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,745 sqft
  • Baths : 2 full , 1 half
Listing Agent

Newport Apartment Group

Listing Agent's Description

FIXER OPPORTUNITY!! Welcome to your new project home! This large 4 bedroom 2.5 bath home on a lovely, quiet cul-de-sac street which is directly adjacent Arovista Park, and is waiting for some much needed TLC. The property needs significant work but has all the fixins to evolve into someone’s special dream home! 2 bedrooms have balconies, the back and side yard are lush with citrus trees and plants scattered around and the large garage offers lots of room for storage, cars or even has the potential to be used as a game room / man cave. The bright kitchen opens to the backyard and has a good sized dining area. The home is very centrally located off Imperial Hwy with plenty of shopping, dining, entertainment and outdoor activity areas just minutes away with great walkability. Bring your contractor and a vision of the home you've dreaming of creating! Priced accordingly.

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
Arovista Elementary School Primary Regular 549 19 7
Brea Junior High School Middle Regular 891 32 8
Brea-olinda High School High Regular 1,895 68 9

Arovista Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 19
7
GreatSchools Rating

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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,579
Property Tax -$700
Property Insurance -$69
Property Management Fees -$143
CASH FLOW
-$580

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.

$699,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.42%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$11,196

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $3,080

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9103$3,0954$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 651 Oleander Street Brea, CA 2
    • 4 beds 3 baths ∙ 1,745 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,745 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.67
    •  
  • 803 S Walnut Avenue Brea, CA 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1952
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.66
    •  
  • 177 Eastwood Place Brea, CA 3
    • 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
    •  
  • 829 Bernard Drive Fullerton, CA 4
    • 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 1964
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.65
    •  
  • 747 Arroues Drive Fullerton, CA 5
    • 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1975
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.81
    •  
PROPERTY LISTING DETAILS
David Sanford
Newport Apartment Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP20251142
Last Updated: 12/03/2020
BESbswy