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6707 Palma Circle Yorba Linda, CA 92886

4 Beds 3 Baths 1,531 sqft Built 1964

$618,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $403.66
  • 4 Days on Market
  • MLS # : PTP2100777
  • Updated Date : 02/04/2021 at 23:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,531 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real Estate Ebroker, Inc.

Listing Agent's Description

Come see this recently upgraded 4 bedroom 2 1/2 bath home located in the highly sought after Fairgreen Homes Community in Yorba Linda. The home offers 1531 sqft of living area plus a Bonus Enclosed Patio room adding an additional 389 sqft. The kitchen has been upgraded with new cabinets; granite countertops; New LED recessed lighting, new porcelain tile flooring and stainless steel appliances. All bathrooms have also been upgraded recently with new cabinets and granite counter top. The master bath features a beautiful new custom shower, new cabinets w/granite and vessel sink. The living room consist of new laminate wood flooring; recessed LED Lighting w/Smart switches; Ceilings feature knock down texture and new paint throughout. New energy efficient dual pane windows throughout. All of the upstairs has new carpet and paint. The Enclosed Patio room has just been remodeled. Consisting of new roof; paint, and carpet. The Fairgreen Homes community consists of near 30 acres of common area with 5 playgrounds, 3 large swimming pools, 2 tennis courts, basketball courts and a club house. You will also find nearby shopping and restaurant's conveniently located including Yorba Linda Town Center and Savy Ranch; as well as easy access to the 91, 55, and the toll roads. Fairgreen Homes community also enjoys some of the absolute best schools in the Placentia-Yorba Linda USD. If your looking for some extra room don't miss out on this home!

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: 92886

ZipNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k938k

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

Zip Code: 92886

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813818

* 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
Bernardo Yorba Middle School Middle Regular 643 25 9
Esperanza High School High Regular 1,858 72 8

Bernardo Yorba Middle School

  • Education Level: Middle
  • # of students: 643
  • # of teachers: 25
9
GreatSchools Rating

Esperanza High School

  • Education Level: High
  • # of students: 1,858
  • # of teachers: 72
8
GreatSchools Rating
 

$556,200$679,800$618,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$2,147
Property Tax -$640
Property Insurance -$64
HOA -$390
Property Management Fees -$145
CASH FLOW
-$426

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.

$618,000

PROJECTED PRICE

$2,960

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,520

INVESTMENT

$169,520

Down Payment
$154,500
Rehab Estimate
$5,750
Closing Costs
$9,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,147

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $154,500
Loan Amount $463,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,066

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $1.93

    LIST RENT PER SQFT
  • $2,928

    COMP ESTIMATED VALUE
  • $1.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,9603$3,1004$3,3005$3,350
$3,350
RENT COMPS ANALYSIS
  • 6707 Palma Circle Yorba Linda, CA 2
    • 4 beds 3 baths ∙ 1,531 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,531 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $1.93
    •  
  • 6628 Kameha Circle Yorba Linda, CA 1
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1964
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.00
    •  
  • 5902 Lynnbrook Yorba Linda, CA 3
    • 4 beds 2 baths ∙ 1,666 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,666 Sqft ∙ Built 1971
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.86
    •  
  • 1224 N Foxton Circle Anaheim, CA 4
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1976
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.93
    •  
  • 20435 Via Don Quijote Yorba Linda, CA 5
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1983
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.86
    •  
PROPERTY LISTING DETAILS
Kathleen Pearce
Real Estate Ebroker, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PTP2100777
Last Updated: 02/04/2021
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