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7145 E Grovewood Lane Orange Park Acres, CA 92869

5 Beds 1 Baths 2,836 sqft Built 1973

$1,095,000

List Price

$4,240

$4K - $4.5K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $386.11
  • 2 Days on Market
  • MLS # : PW20252170
  • Updated Date : 12/05/2020 at 17:41
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,836 sqft
  • Baths : 1 full
Listing Agent

Realty Pro 100

Listing Agent's Description

Escape to a lifestyle rarely seen in busy OC, where this gem is nestled in the special community of Orange Park Acres. This 1-owner estate has been proudly-treasured for almost 50 years & offers approx. 2,900 sf of living space on nearly 1/3 acre, with no HOA or Mello-Roos. Highlights are: 5 bedrooms, 3 bathrooms, glistening hardwood and tile floors, & an enjoyable open floor plan with 1 bedroom & 3/4 bathroom on the main level. Experience volume ceilings & wall-to-wall picture windows for warmth & character to accent the architecture. The French doors access the beautiful large backyard adorned with pool, spa, Spanish pavers, & an outdoor kitchen to entertain large gatherings or have your kids practice their athletic skills. Cook up a culinary delight with an induction cooktop, double ovens, newer stainless steel dishwasher, & cabinets galore. Recent updates: fresh paint, scraped ceilings, updated bathrooms, new carpeting, recessed & landscape lighting, & other decorative features plus the newly finished 3-car direct-access garage. And there’s more: upgraded baseboards, custom built-ins, & newer pool pump. If you are an outdoor enthusiast, you’ll love this location - walking distance to Santiago Oaks Park, hiking/biking trails and only a quick drive to Irvine Regional Park, the 55 fwy, Jamboree Marketplace, The Toll Roads, Peters Canyon, Pacific Ranch Market & Restaurants. Come have your piece of heaven!

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

Neighborhood: Orange Park Acres

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $260k922k

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

Neighborhood: Orange Park Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18633900

* 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
Linda Vista Elementary School Primary Regular 483 19 7
Linda Vista Elementary School Middle Regular 483 19 7
El Modena High School High Regular 2,196 89 7

Linda Vista Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 19
7
GreatSchools Rating

Linda Vista Elementary School

  • Education Level: Middle
  • # of students: 483
  • # of teachers: 19
7
GreatSchools Rating

El Modena High School

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

$985,500$1,204,500$1,095,000

PURCHASE PRICE

$3,816$4,664$4,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,240
EXPENSES Loan Payment -$4,040
Property Tax -$1,067
Property Insurance -$94
Property Management Fees -$208
CASH FLOW
-$1,169

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.

$1,095,000

PROJECTED PRICE

$4,240

PROJECTED RENT

0.39%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$295,925

INVESTMENT

$295,925

Down Payment
$273,750
Rehab Estimate
$5,750
Closing Costs
$16,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $273,750
Loan Amount $821,250
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$5,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,240

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $4,389

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$4,1503$4,2004$4,2405$4,500
$4,500
RENT COMPS ANALYSIS
  • 7145 E Grovewood Lane Orange Park Acres, CA 4
    • 5 beds 1 baths ∙ 2,836 Sqft ∙ Built 1973 5 beds 1 baths ∙ 2,836 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $4,240
    • $1.50
    •  
  • 1081 S Burlwood Drive Anaheim Hills, CA 1
    • 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 1977
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.43
    •  
  • 6567 E Via Arboles Anaheim Hills, CA 2
    • 5 beds 3 baths ∙ 2,768 Sqft ∙ Built 1975 5 beds 3 baths ∙ 2,768 Sqft ∙ Built 1975
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $1.50
    •  
  • 5915 E Bunker Hill Avenue Orange, CA 3
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1976
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.66
    •  
  • 611 S Frontier Court Anaheim Hills, CA 5
    • 4 beds 3 baths ∙ 2,816 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,816 Sqft ∙ Built 1980
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.60
    •  
PROPERTY LISTING DETAILS
Ruben Rodarte
Realty Pro 100
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20252170
Last Updated: 12/05/2020
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