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6805 Ossabaw Court Cypress, CA 90630

3 Beds 3 Baths 1,666 sqft Built 1975

$749,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $449.58
  • 6 Days on Market
  • MLS # : PW21149028
  • Updated Date : 07/09/2021 at 19:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,666 sqft
  • Baths : 2 full , 1 half
Listing Agent

Era North Orange County

Listing Agent's Description

Welcome Home~Sweet~Home to this beautiful single-family home located in the highly sought-after prestigious Cypress Village Community. This modernized 3-bedroom home has an open concept layout you will surely love! As you walk in, you will notice the home has been recently upgraded with newer airy gray paint, stained rich flooring, new carpeting, and new chandelier. The kitchen boasts stainless appliances, granite countertops, a breakfast bar, and tile flooring. The dining area can fit a formal dining table plus accent furniture and has a nice view out the sliding glass door of the yard and a view of the community trees & greenbelt area from the oversized double pane window. Enjoy a cozy night by the fireplace in the spacious living room. Inside also features 2.5 large bathrooms, an office, an indoor laundry room, a 2-car garage. This home has a great finished yard perfect for entertaining and hosting BBQ’s. It has a nice gated entry for privacy and a back gate that exits to the community greenbelt and amenities for added convenience. Cypress Village is host to amazing community features you will surely enjoy such as the enormous community pool, spa, tennis courts, and walking paths to name a few. This Orange County home is perfect for those who want to live central to the driving to beaches, mountains, surrounding counties, and have access to great schools, colleges, restaurants, and entertainment! The listing photos feature actual photos and virtual staged photos to give you added ideas of how to furnish your dream home!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: Cypress

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Neighborhood: Cypress

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18413345

* 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
Bell Intermediate School Middle Regular 676 25 9
Pacifica High School High Regular 1,773 75 9

Bell Intermediate School

  • Education Level: Middle
  • # of students: 676
  • # of teachers: 25
9
GreatSchools Rating

Pacifica High School

  • Education Level: High
  • # of students: 1,773
  • # of teachers: 75
9
GreatSchools Rating
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$2,602
Property Tax -$756
Property Insurance -$67
HOA -$285
Property Management Fees -$150
CASH FLOW
-$800

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.

$749,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,894

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $1.84

    LIST RENT PER SQFT
  • $3,136

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0603$3,2004$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 6805 Ossabaw Court Cypress, CA 2
    • 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $1.84
    •  
  • 11375 Harkers Court Cypress, CA 1
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1974
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.85
    •  
  • 11381 Montserrat Street Cypress, CA 3
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1972
    LEASED 04/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.06
    •  
  • 6507 Mcnutt Way Cypress, CA 4
    • 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 1973
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.78
    •  
  • 6391 Cantiles Avenue Cypress, CA 5
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1972
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.84
    •  
PROPERTY LISTING DETAILS
Regina Dieringer
Era North Orange County
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21149028
Last Updated: 07/09/2021
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