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876 South Earlham Street Orange, CA 92869

4 Beds 2 Baths 2,133 sqft Built 1962

$929,000

List Price

$3,650

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $435.54
  • 4 Days on Market
  • MLS # : OC20243549
  • Updated Date : 11/20/2020 at 07:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,133 sqft
  • Baths : 2 full
Listing Agent

Real Estate Ebroker Inc

Listing Agent's Description

Look no further. 4 bed, 2 bath PLUS permitted office large enough for buyer to use as a 5th bedroom. Welcome to this move-in ready, beautiful single-story ranch-style home that has been fully upgraded and updated. Large .25-acre view lot with a backyard perfect for entertaining and relaxing, with a nightly sunset view. Established fruit trees are a plus. The open floor plan is light and bright, with upgraded flooring, energy efficient windows and sliding doors, lighting, fans and fixtures throughout. A double-sided fireplace sits in the center of the living room, with beautiful stacked-stone. The remodeled kitchen includes quartz countertops, soft-close cabinets and drawers, glass backsplash, and much more. Both bathrooms feature granite-top vanities. An upgraded, high-end HVAC system has been installed. Master bedroom features its own upgraded sliding door offering peaceful views of the backyard and beyond, and a walk-in closet. Four additional bedrooms include upgraded windows with plenty of natural light. Enjoy the indoor laundry room with built-in cabinets, sink, and a door to the backyard. Multiple sliders and windows create a flow that encourages indoor/outdoor living. The garage has been upgraded with epoxy flooring and drywall. Enjoy easy access to trails, freeways, shopping and entertainment. No HOA or mello-roos! Don’t miss out on this gem!

SEE MORE

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

Zip Code: 92869

ZipNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $260k922k

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

Zip Code: 92869

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18633818

* 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
Jordan Elementary School Primary Regular 438 16 5
Jordan Elementary School Middle Regular 438 16 5
El Modena High School High Regular 2,196 89 7

Jordan Elementary School

  • Education Level: Primary
  • # of students: 438
  • # of teachers: 16
5
GreatSchools Rating

Jordan Elementary School

  • Education Level: Middle
  • # of students: 438
  • # of teachers: 16
5
GreatSchools Rating

El Modena High School

  • Education Level: High
  • # of students: 2,196
  • # of teachers: 89
7
GreatSchools Rating
 

$836,100$1,021,900$929,000

PURCHASE PRICE

$3,285$4,015$3,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,650
EXPENSES Loan Payment -$3,428
Property Tax -$900
Property Insurance -$77
Property Management Fees -$179
CASH FLOW
-$933

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.

$929,000

PROJECTED PRICE

$3,650

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$251,935

INVESTMENT

$251,935

Down Payment
$232,250
Rehab Estimate
$5,750
Closing Costs
$13,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,428

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $232,250
Loan Amount $696,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$6,360

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,650

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $3,736

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,5003$3,6504$4,0005$4,250
$4,250
RENT COMPS ANALYSIS
  • 876 South Earlham Street Orange, CA 3
    • 5 beds 2 baths ∙ 2,138 Sqft ∙ Built 1962 5 beds 2 baths ∙ 2,138 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.71
    •  
  • 13111 Hewes Avenue Santa Ana, CA 1
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1978
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.60
    •  
  • 13807 Hewes Avenue North Tustin, CA 2
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1961
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.68
    •  
  • 12681 Swidler Place Santa Ana, CA 4
    • 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 1961
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.87
    •  
  • 824 S Laurinda Lane Orange, CA 5
    • 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 1962
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.84
    •  
PROPERTY LISTING DETAILS
Alfred Batarse
Real Estate Ebroker Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20243549
Last Updated: 11/20/2020
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