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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $348.30
- 2 Days on Market
- MLS # : PW20247854
- Updated Date : 11/28/2020 at 18:01
CONSTRUCTION
- Beds : 4
- Floor Size : 2,383 sqft
- Baths : 3 full
Listing Agent
The Luxe Agency
Listing Agent's Description
PRICED TO SELL...$40k below market value!!! 4 bedroom/3 bath one-story home on a corner lot in the heart of Orange! Approximately 2400 of living space on a 11,500 gorgeous lot surrounded by lots of fruit trees. Property is in good condition, has recently been through 2 professional inspections, it just needs minor cosmetic work, which is why it is priced to sell. This home is a true gem in a highly sought-after part of Orange. Property is currently tenant occupied, and is being sold with the transfer of lease (which ends and becomes month-to-month at the time of sale). OPEN HOUSE BY APPT. ONLY SATURDAY DECEMBER 5TH 12-5PM!
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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
Neighborhood: North Tustin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Tustin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,470 |
| EXPENSES | Loan Payment | -$3,062 |
| Property Tax | -$804 | |
| Property Insurance | -$83 | |
| Property Management Fees | -$170 | |
|
CASH FLOW
-$649
|
||
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.
$830,000
PROJECTED PRICE
$3,470
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.81% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$225,700
LOAN DETAILS
$3,062
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $207,500 |
| Loan Amount | $622,500 |
2.08
YEARS SAVED
$13,817
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,470
LIST RENT -
$1.46
LIST RENT PER SQFT
-
$3,729
COMP ESTIMATED VALUE -
$1.57
COMP AVG. RENT PER SQFT
Comps Range
-
787 S Laurinda Lane Orange, CA 2
- 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 1962
![property image]()
- Rent
- Rent Per SQFT
- $3,470
- $1.46
-
18141 Casselle Avenue Santa Ana, CA 1
- 3 beds 3 baths ∙ 2,155 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,155 Sqft ∙ Built 1956
![property image]()
LEASED 04/13/20- Rent
- Rent Per SQFT
- $3,295
- $1.53
-
645 S Yorba St Orange, CA 3
- 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 1962
![property image]()
LEASED 03/19/20- Rent
- Rent Per SQFT
- $3,600
- $1.47
-
234 S Rosalind Drive Orange, CA 4
- 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 1963
![property image]()
LEASED 08/29/20- Rent
- Rent Per SQFT
- $3,875
- $1.68
-
3125 E Larkstone Drive Orange, CA 5
- 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1962
![property image]()
LEASED 04/08/20- Rent
- Rent Per SQFT
- $3,900
- $1.58
PROPERTY LISTING DETAILS
The Luxe Agency
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20247854
Last Updated: 11/28/2020
