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PROPERTY INFO
FACTS
- Single Family
- Built In 1959
- Price/Sqft : $419.24
- 5 Days on Market
- MLS # : PW21013920
- Updated Date : 02/06/2021 at 05:14
CONSTRUCTION
- Beds : 4
- Floor Size : 1,944 sqft
- Baths : 2 full
Listing Agent
Century 21 Discovery
Listing Agent's Description
Home dreams do come true! This welcoming 4 bedroom 2 bath home has the look & feel of what you've been wishing for. Perfect flow for entertaining, the kitchen & dining room open up to the living room & backyard. You'll be proud to host family and friends in the relaxed elegance of this living room. The brick fireplace is the focal point, with symmetrical shelving and enclosed cabinets on either side. This spacious kitchen will be the hub of the home with upgrades, such as white shaker cabinets, quartz island & counters (no grout to clean!) & stainless steel appliances. Sliding glass doors in living room provide natural light & an invitation to enjoy the private backyard. Master bedroom has en suite bath & 2 closets. Large secondary bedrooms share a full hall bath. Hall bath has shower over tub combination. Neutral tones throughout mean this home is a blank canvas just waiting for you to personalize. From top to bottom, this home has been updated: roof, windows, flooring, plumbing, recessed lights & remodeled kitchen. Dutch door in kitchen leads to large enclosed patio which is currently being used as a playroom & virtual classroom. Entertain family & friends on the large deck in the backyard which also has large grassy areas & hardscape patio for dining. Direct access to 2 car garage is convenient for unloading groceries or laundry. Garage has washer/dryer hook ups. Walking distance to Birch Street Promenade with its many restaurants, unique shops, theatres & near Brea Mall.
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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 | $3,110 |
| EXPENSES | Loan Payment | -$2,831 |
| Property Tax | -$816 | |
| Property Insurance | -$74 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$763
|
||
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.
$815,000
PROJECTED PRICE
$3,110
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
$221,725
LOAN DETAILS
$2,831
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $203,750 |
| Loan Amount | $611,250 |
1.42
YEARS SAVED
$5,752
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,110
LIST RENT -
$1.6
LIST RENT PER SQFT
-
$3,285
COMP ESTIMATED VALUE -
$1.69
COMP AVG. RENT PER SQFT
Comps Range
-
906 Lantana Avenue Brea, CA 2
- 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 1959
- Rent
- Rent Per SQFT
- $3,110
- $1.60
-
435 S Walnut Avenue Brea, CA 1
- 3 beds 3 baths ∙ 1,694 Sqft ∙ Built 1945 3 beds 3 baths ∙ 1,694 Sqft ∙ Built 1945
LEASED 12/22/19- Rent
- Rent Per SQFT
- $2,875
- $1.70
-
3813 Tunales Drive Fullerton, CA 3
- 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1954 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1954
LEASED 04/22/20- Rent
- Rent Per SQFT
- $3,200
- $1.60
-
829 Bernard Drive Fullerton, CA 4
- 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 1964
LEASED 11/15/20- Rent
- Rent Per SQFT
- $3,200
- $1.65
-
747 Arroues Drive Fullerton, CA 5
- 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1975
LEASED 04/24/20- Rent
- Rent Per SQFT
- $3,300
- $1.81
PROPERTY LISTING DETAILS
Century 21 Discovery
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21013920
Last Updated: 02/06/2021
