Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9429 Jasmine Avenue Fountain Valley, CA 92708

4 Beds 1 Baths 1,896 sqft Built 1965

$850,000

List Price

$3,370

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $448.31
  • 5 Days on Market
  • MLS # : OC21038588
  • Updated Date : 02/27/2021 at 15:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,896 sqft
  • Baths : 1 full
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Wonderful family home on large lot in great Fountain Valley neighborhood. Fresh interior paint throughout with new carpet and new laminate flooring in kitchen, entry, dining area, and both bathrooms. Spacious living room with brick fireplace and large slider leading to the patio. Kitchen features vintage double oven and separate 4 burner gas stove, dishwasher, large vintage tile counters with breakfast bar, and pantry for extra storage. Spacious dining area with ceiling fan. Separate upstairs unfinished bonus room with potential for family room, large home office, or guest/mother-in-law quarters. Additional features include central heating, sprinklers, 2-car garage with laundry hookups, and extra large back yard with patio and block wall fence. Located on a quiet street next to cul-de-sac near Mile Square Park.

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

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
Mcgarvin Intermediate School Middle Regular 810 27 9
La Quinta High School High Regular 2,142 78 10

Mcgarvin Intermediate School

  • Education Level: Middle
  • # of students: 810
  • # of teachers: 27
9
GreatSchools Rating

La Quinta High School

  • Education Level: High
  • # of students: 2,142
  • # of teachers: 78
10
GreatSchools Rating
 

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

PURCHASE PRICE

$3,033$3,707$3,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,370
EXPENSES Loan Payment -$2,952
Property Tax -$825
Property Insurance -$73
Property Management Fees -$165
CASH FLOW
-$646

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

$3,370

PROJECTED RENT

0.40%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$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$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 60% 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

2.08

YEARS SAVED

$12,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,370

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,569

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$3,370
1$3,3702$3,4003$3,4004$3,6955$4,000
$4,000
RENT COMPS ANALYSIS
  • 9429 Jasmine Avenue Fountain Valley, CA 1
    • 4 beds 1 baths ∙ 1,896 Sqft ∙ Built 1965 4 beds 1 baths ∙ 1,896 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,370
    • $1.78
    •  
  • 15801 Bristol Circle Westminster, CA 2
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1973
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.98
    •  
  • 9800 Dandelion Avenue Fountain Valley, CA 3
    • 4 beds 3 baths ∙ 1,904 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,904 Sqft ∙ Built 1968
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.79
    •  
  • 9849 Emmons Circle Fountain Valley, CA 4
    • 4 beds 1 baths ∙ 2,053 Sqft ∙ Built 1976 4 beds 1 baths ∙ 2,053 Sqft ∙ Built 1976
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $1.80
    •  
  • 9651 Rindge Circle Fountain Valley, CA 5
    • 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 1973
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.96
    •  
PROPERTY LISTING DETAILS
Curtis Beitel
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21038588
Last Updated: 02/27/2021
BESbswy