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868 Ethelinda Way Brea, CA 92821

3 Beds 2 Baths 1,791 sqft Built 1980

$850,000

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $474.60
  • 2 Days on Market
  • MLS # : PW21053027
  • Updated Date : 03/13/2021 at 11:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,791 sqft
  • Baths : 2 full
Listing Agent

Era North Orange County

Listing Agent's Description

BEAUTIFUL SINGLE STORY home in the VERY DESIRABLE NORTH HILLS neighborhood. The spacious kitchen features stainless steel appliances, double oven, gas cooktop, beautiful white cabinetry, granite countertops and breakfast nook. Formal dining room and step-down spacious living room features vaulted ceilings, cozy brick gas fireplace and direct access to the beautiful backyard. LARGE Master suite features vaulted ceiling, plantation shutters, dual sinks with granite countertops, glass walk in shower and mirrored closets. Two additional spacious bedrooms and beautiful full bath. Beautiful backyard is ready for your next BBQ! The backyard includes patio area, greenspace, and beautiful mature landscaping. This home belongs to a low cost HOA community which includes Swimming Pool, clubhouse, tennis and basketball courts and play area. This community is located in the Award-Winning Brea Olinda Unified School District and is close to Brea Sports Park, Olinda Elementary, shopping, restaurants, entertainment and nearby freeway access. Come view this beautiful house and make it yours today!

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

Zip Code: 92821

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92821

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
Brea Junior High School Middle Regular 891 32 8
Brea-olinda High School High Regular 1,895 68 9

Brea Junior High School

  • Education Level: Middle
  • # of students: 891
  • # of teachers: 32
8
GreatSchools Rating

Brea-olinda High School

  • Education Level: High
  • # of students: 1,895
  • # of teachers: 68
9
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$2,952
Property Tax -$819
Property Insurance -$70
HOA -$135
Property Management Fees -$149
CASH FLOW
-$1,076

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.

$850,000

PROJECTED PRICE

$3,050

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$496

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT
  • $1.7

    LIST RENT PER SQFT
  • $3,157

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0503$3,1004$3,1005$3,195
$3,195
RENT COMPS ANALYSIS
  • 868 Ethelinda Way Brea, CA 2
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.70
    •  
  • 1301 Wickford Drive Brea, CA 1
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1961
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.84
    •  
  • 1240 Traci Drive Brea, CA 3
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.72
    •  
  • 655 Roscoe Street Brea, CA 4
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1996
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.72
    •  
  • 1232 Tracie Drive Brea, CA 5
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.77
    •  
PROPERTY LISTING DETAILS
Darryl Jones
Era North Orange County
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21053027
Last Updated: 03/13/2021
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