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8529 Courreges Court Fountain Valley, CA 92708

3 Beds 3 Baths 1,709 sqft Built 1985

$750,000

List Price

$2,930

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $438.85
  • 117 Days on Market
  • MLS # : OC20193059
  • Updated Date : 09/23/2020 at 12:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,709 sqft
  • Baths : 2 full , 1 half
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Located in a desirable community of Shadow Lane in Fountain Valley, this stunning unit includes 3 bedrooms and 2.5 bathrooms. Greeted by a well-trimmed entrance you enter through the newly installed front door into a bright, airy and perfectly fitted multi-level unit with gorgeous gray oak engineered hardwood flooring and custom baseboards flowing throughout the home. The spacious living room features a soaring ceiling and a large fireplace then flows seamlessly into a designer kitchen showcasing stainless steel appliances, custom cabinetry with under cabinet lights, granite countertops and a spacious kitchen island perfect for meals in. The fully upgraded kitchen leads you outside to a spacious patio featuring a wall water fountain that is perfect for entertaining family and friends! Three spacious bedrooms and bathrooms are located upstairs, including the Master with a gorgeous, remodeled bathroom featuring a waterfall tower. Resort-style amenities include an outdoor community pool area with lounge chairs. Endless additional designer upgrades include dual pane energy efficient windows, new AC unit, newer water heater, recessed lighting, new paint, surround sound wiring, central vacuum system, NEST thermostat, and a CLARE Video Doorbell to just name a few. This beautiful home is bound to go quickly – schedule a showing today!

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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: Fountain Valley

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k816k

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

Neighborhood: Fountain Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2180020002200240026002800300032003400Rent in $17723435

* 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
Roch Courreges Elementary School Primary Regular 667 24 10
Harry C. Fulton Middle School Middle Regular 797 31 10
Fountain Valley High School High Regular 3,704 127 9

Roch Courreges Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 24
10
GreatSchools Rating

Harry C. Fulton Middle School

  • Education Level: Middle
  • # of students: 797
  • # of teachers: 31
10
GreatSchools Rating

Fountain Valley High School

  • Education Level: High
  • # of students: 3,704
  • # of teachers: 127
9
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,637$3,223$2,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,930
EXPENSES Loan Payment -$2,605
Property Tax -$738
Property Insurance -$68
HOA -$374
Property Management Fees -$144
CASH FLOW
-$999

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.

$750,000

PROJECTED PRICE

$2,930

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,930

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $3,209

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,930
1$2,9302$3,2003$3,4504$3,5505$3,600
$3,600
RENT COMPS ANALYSIS
  • 8529 Courreges Court Fountain Valley, CA 1
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,930
    • $1.71
    •  
  • 17071 Ross Street Fountain Valley, CA 2
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1976
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.82
    •  
  • 18321 Santa Joanana Fountain Valley, CA 3
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1972
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.82
    •  
  • 8938 Yuba River Avenue Fountain Valley, CA 4
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1970
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.97
    •  
  • 18462 Gina Lane Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 1977
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.90
    •  
PROPERTY LISTING DETAILS
Nicole Bottaro
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20193059
Last Updated: 09/23/2020
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