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PROPERTY INFO
FACTS
- Single Family
- Built In 1987
- Price/Sqft : $374.90
- 2 Days on Market
- MLS # : DW21005002
- Updated Date : 01/09/2021 at 18:50
CONSTRUCTION
- Beds : 4
- Floor Size : 2,398 sqft
- Baths : 3 full
Listing Agent
Re/max Dynasty
Listing Agent's Description
Stunning JM Peters Home Located On a Quiet Cul De Sac with lots of privacy in the well sought after Village at Brea Summit! With four bedrooms, three bathrooms, and approximately 2,398 square feet of living space, this home is an absolute must-see. Upon entering, you immediately notice the open floor plan concept, high ceilings, and upgrades throughout. Kitchen highlights include stainless steel appliances, recessed lighting, wood cabinetry, plenty of counter space and cabinets. The floor plan is spacious with an intuitive design and flow from room-to-room. This home features a downstairs bedroom/bathroom with the remaining bedrooms being on the second level. Up the beautiful stairway, a long hallway connects the master suite to the secondary bedrooms. The master suite has large windows offering a stunning view and private patio. The master bathroom features dual sink vanities, a sunken tub, glass shower, and dual walk-in closets. Some additional highlights include plantation shutters, recessed lighting, an open floor plan, and more! The exterior of the home is immaculate! A stunning water fountain can be found through the private gate as you enter the home leading to the beautifully landscaped backyard with a patio and beautiful views of the hillside!
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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
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 | $3,500 |
| EXPENSES | Loan Payment | -$3,123 |
| Property Tax | -$864 | |
| Property Insurance | -$85 | |
| HOA | -$307 | |
| Property Management Fees | -$172 | |
|
CASH FLOW
-$1,050
|
||
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
$3,500
PROJECTED RENT
0.39%
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 |
0.42
YEARS SAVED
$1,140
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,500
LIST RENT -
$1.46
LIST RENT PER SQFT
-
$3,693
COMP ESTIMATED VALUE -
$1.54
COMP AVG. RENT PER SQFT
Comps Range
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879 E Cameron Court Brea, CA 3
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- $3,500
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130 Cool Oak Way Brea, CA 1
- 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1985
LEASED 12/15/19- Rent
- Rent Per SQFT
- $3,200
- $1.53
-
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
-
1353 Robert Court Brea, CA 4
- 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1989
LEASED 10/08/20- Rent
- Rent Per SQFT
- $3,600
- $1.52
-
2134 Deer Springs Lane Brea, CA 5
- 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1985
LEASED 08/26/19- Rent
- Rent Per SQFT
- $3,650
- $1.48
PROPERTY LISTING DETAILS
Re/max Dynasty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: DW21005002
Last Updated: 01/09/2021
