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724 Longfellow Drive Placentia, CA 92870

4 Beds 2 Baths 1,550 sqft Built 1972

$765,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $493.55
  • 6 Days on Market
  • MLS # : SW21029000
  • Updated Date : 03/03/2021 at 15:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,550 sqft
  • Baths : 2 full
Listing Agent

Era Donahoe Realty

Listing Agent's Description

Great 4 bedroom, 2 bathroom home on a cul-de-sac with a large driveway/RV parking and Tesla solar panels. The garage features space for three cars, with a drive through garage door, as well as cabinetry and a large insulated attic storage area. This home offers rare double RV parking, with access on on each side of the house. The kitchen is bright and open, overlooking the beautiful grass backyard which has a large covered patio, with sprinkler systems front and rear. There's a 40 ft vinyl building and yard shed in the backyard for extra storage. The master bathroom features a beautifully remodeled master bath with dual shower heads, sleek marble counters and barn style glass shower doors.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Zip Code: 92870

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92870

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18443345

* 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
Tuffree Middle School Middle Regular 727 27 8
El Dorado High School High Regular 1,904 73 8

Tuffree Middle School

  • Education Level: Middle
  • # of students: 727
  • # of teachers: 27
8
GreatSchools Rating

El Dorado High School

  • Education Level: High
  • # of students: 1,904
  • # of teachers: 73
8
GreatSchools Rating
 

$688,500$841,500$765,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,657
Property Tax -$794
Property Insurance -$65
Property Management Fees -$140
CASH FLOW
-$806

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.

$765,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.5%
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$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$208,475

INVESTMENT

$208,475

Down Payment
$191,250
Rehab Estimate
$5,750
Closing Costs
$11,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,657

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $191,250
Loan Amount $573,750
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$2,643

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $1.84

    LIST RENT PER SQFT
  • $2,825

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,8503$3,1504$3,3005$3,300
$3,300
RENT COMPS ANALYSIS
  • 724 Longfellow Drive Placentia, CA 2
    • 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.84
    •  
  • 2307 Teton Circle Placentia, CA 1
    • 3 beds 4 baths ∙ 1,420 Sqft ∙ Built 1975 3 beds 4 baths ∙ 1,420 Sqft ∙ Built 1975
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.76
    •  
  • 1941 Harte Way Placentia, CA 3
    • 4 beds 1 baths ∙ 1,752 Sqft ∙ Built 1969 4 beds 1 baths ∙ 1,752 Sqft ∙ Built 1969
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.80
    •  
  • 2127 Kathryn Way Placentia, CA 4
    • 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1963
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.77
    •  
  • 344 Somerset Drive Placentia, CA 5
    • 3 beds 1 baths ∙ 1,680 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,680 Sqft ∙ Built 1963
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.96
    •  
PROPERTY LISTING DETAILS
Rachel Strickland
Era Donahoe Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21029000
Last Updated: 03/03/2021
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