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663 N James Street Orange, CA 92869

4 Beds 3 Baths 1,457 sqft Built 1964

$740,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $507.89
  • 2 Days on Market
  • MLS # : PW21010359
  • Updated Date : 01/16/2021 at 18:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,457 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Nestled quietly and conveniently on the fringes of both Villa Park and Orange Park Acres, you've just found the perfect move-up, 4 bedroom 2.5 bath family home. This culdesac treasure has near new solar (and it's paid for!!) so you'll receive maximum benefit, for years to come. Roof is about 4 years old, a major expense you won't have to contend with. PLUS a recently upgraded HVAC system and blown-in attic insulation. The house has been re-piped with copper, BRAND NEW carpet installed in the bedrooms just last week. Your new home includes custom bookcases in a beautiful living room, with storage. And oh...don't forget a beautifully redesigned and upgraded kitchen. The home boasts of quality craftsmanship. You won't be washing your clothes in the garage, this home is equipped with it's own designated laundry room. That old saying, "you snooze you lose," was made for opportunities just like this!

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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

Zip Code: 92869

ZipNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $260k922k

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

Zip Code: 92869

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18633818

* 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
Prospect Elementary School Primary Regular 464 16 5
Prospect Elementary School Middle Regular 464 16 5
El Modena High School High Regular 2,196 89 7

Prospect Elementary School

  • Education Level: Primary
  • # of students: 464
  • # of teachers: 16
5
GreatSchools Rating

Prospect Elementary School

  • Education Level: Middle
  • # of students: 464
  • # of teachers: 16
5
GreatSchools Rating

El Modena High School

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

$666,000$814,000$740,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$2,570
Property Tax -$716
Property Insurance -$61
Property Management Fees -$136
CASH FLOW
-$704

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.

$740,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$201,850

INVESTMENT

$201,850

Down Payment
$185,000
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,570

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $185,000
Loan Amount $555,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $2,918

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$2,780
1$2,7802$3,0003$3,0954$3,2005$3,500
$3,500
RENT COMPS ANALYSIS
  • 663 N James Street Orange, CA 1
    • 4 beds 3 baths ∙ 1,457 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,457 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.91
    •  
  • 2807 E Lomita Avenue Orange, CA 2
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1956
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.95
    •  
  • 582 N La Nae Circle Orange, CA 3
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1965
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.97
    •  
  • 783 N Elmwood Street Orange, CA 4
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1964
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.11
    •  
  • 637 N Ranchroad Drive Orange, CA 5
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1977
    LEASED 08/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.98
    •  
PROPERTY LISTING DETAILS
Mitch Berry
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21010359
Last Updated: 01/16/2021
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