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701 N Orange Street La Habra, CA 90631

3 Beds 1 Baths 1,128 sqft Built 1952

$599,800

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $531.74
  • 3 Days on Market
  • MLS # : PW20243741
  • Updated Date : 11/20/2020 at 15:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,128 sqft
  • Baths : 1 full
Listing Agent

Reliance Real Estate Services

Listing Agent's Description

Sitting just SOUTH OF THE BOULEVARD, this charming corner-lot home enjoys classic mid-century elements and a recently refreshed interior. 701 N. Orange Street just shines with pride of ownership. Arrive to a manicured front yard with an expansive green lawn and great drought tolerant plants and trees, a dry creek leads to the front porch. Step inside to a welcoming interior and surprisingly large entry hall. The original oak floors have just been refinished in a stylish dark stain, new interior paint throughout and new flooring in the kitchen and bathroom. Central heating and air, many newer dual pane windows and an upgraded electrical panel are all great, peace of mind updates. The kitchen offers an eat-in breakfast nook and new dishwasher and newer oven and gas cooktop. Enjoy mid-century style in the living room with vaulted, beamed ceilings, impressive floor to ceiling windows on each side of the stylish gas fireplace. The full bathroom offers separate shower/tub area and private toilet room. Inside laundry is within the main bathroom area. The backyard is expansive and offers a host of options; add a lawn, garden area, patio areas, the potential abounds! A two-car detached garage sits at the rear of the lot.

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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: 90631

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $217k742k

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

Zip Code: 90631

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17143345

* 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
Arbolita Elementary School Primary Regular 389 15 3
Washington Middle School Middle Regular 854 33 4
La Habra High School High Magnet 2,230 73 7

Arbolita Elementary School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 15
3
GreatSchools Rating

Washington Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 33
4
GreatSchools Rating

La Habra High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 73
7
GreatSchools Rating
 

$539,820$659,780$599,800

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,213
Property Tax -$618
Property Insurance -$54
Property Management Fees -$116
CASH FLOW
-$632

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.

$599,800

PROJECTED PRICE

$2,370

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.6%
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

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$164,697

INVESTMENT

$164,697

Down Payment
$149,950
Rehab Estimate
$5,750
Closing Costs
$8,997

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,950
Loan Amount $449,850
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $2,386

    COMP ESTIMATED VALUE
  • $2.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,370
1$2,3702$2,6003$2,8004$3,0005$3,075
$3,075
RENT COMPS ANALYSIS
  • 701 N Orange Street La Habra, CA 1
    • 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $2.10
    •  
  • 311 N Colfax Street La Habra, CA 2
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1955
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.15
    •  
  • 530 Gerry Street La Habra, CA 3
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1956
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.02
    •  
  • 1310 Comity Circle La Habra, CA 4
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1956
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.13
    •  
  • 1111 Carol Street La Habra, CA 5
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1951
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,075
    • $2.16
    •  
PROPERTY LISTING DETAILS
James Bobbett
Reliance Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20243741
Last Updated: 11/20/2020
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