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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $383.86
- 3 Days on Market
- MLS # : ND21034045
- Updated Date : 02/20/2021 at 14:45
CONSTRUCTION
- Beds : 4
- Floor Size : 2,342 sqft
- Baths : 3 full
Listing Agent
Coldwell Banker West
Listing Agent's Description
Welcome to 820 Avocado St, Brea. Updated, spacious, and inviting, this 4 bedroom, 3 bathroom home is turn-key and perfect for the entertainer. Featuring a downstairs bedroom and full bath, recently renovated floors and kitchen, and a 3 car garage, this home is a can’t-miss! The private backyard has a large covered patio, ceiling fans, and a gate to the biking and walking path located behind the house with no rear neighbors. The large bedrooms and bathrooms offer ample space, and the gorgeous kitchen leads into a dining space with built-in carpentry and a large great room. Boasting fireplaces on both the first and second story, this approximately 2,342 sq ft home has everything you have been looking for!
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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: 92821
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92821
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,440 |
| EXPENSES | Loan Payment | -$3,123 |
| Property Tax | -$902 | |
| Property Insurance | -$84 | |
| Property Management Fees | -$169 | |
|
CASH FLOW
-$837
|
||
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.
$899,000
PROJECTED PRICE
$3,440
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 4.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| 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
$243,985
LOAN DETAILS
$3,123
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $224,750 |
| Loan Amount | $674,250 |
1.42
YEARS SAVED
$6,527
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,440
LIST RENT -
$1.47
LIST RENT PER SQFT
-
$3,583
COMP ESTIMATED VALUE -
$1.53
COMP AVG. RENT PER SQFT
Comps Range
-
820 Avocado Street Brea, CA 4
- 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1965
- Rent
- Rent Per SQFT
- $3,440
- $1.47
-
705 Driftwood Avenue Brea, CA 1
- 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1966
LEASED 11/20/20- Rent
- Rent Per SQFT
- $3,350
- $1.40
-
282 Heathcliff Place Brea, CA 2
- 4 beds 3 baths ∙ 2,077 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,077 Sqft ∙ Built 1982
LEASED 10/03/19- Rent
- Rent Per SQFT
- $3,395
- $1.63
-
1781 Moorpark Dr Brea, CA 3
- 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1966
LEASED 04/03/20- Rent
- Rent Per SQFT
- $3,400
- $1.58
-
346 Buttonwood Drive Brea, CA 5
- 4 beds 2 baths ∙ 2,279 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,279 Sqft ∙ Built 1965
LEASED 07/08/20- Rent
- Rent Per SQFT
- $3,450
- $1.51
PROPERTY LISTING DETAILS
Coldwell Banker West
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: ND21034045
Last Updated: 02/20/2021
