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
242 Grant Lane 
Placentia, CA
92870
3 Beds 3 Baths 1,641 sqft
Built 1998
INVESTimate
$639,000
List Price
$175,085
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Built In 1998
- Price/Sqft : $389.40
- 2 Days on Market
- MLS # : OC20171120
- Updated Date : 08/25/2020 at 14:32
CONSTRUCTION
- Beds : 3
- Floor Size : 1,641 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Welcome to the private gated community of Mariposa Lane! This detached home features its own gated front patio. Entering the home you will notice the beautiful laminate hardwood flooring, high ceilings and fresh paint throughout. Spacious kitchen with white cabinets & quartz counter tops. Open concept family room, kitchen, and dining area. Direct access to a two car garage with plenty of storage. Upstairs you will enjoy the conveniently located laundry room with storage cabinets. Three generously sized bedrooms with tons of natural light and space. Master bathroom features dual sinks, large soaking tub, separate shower and large walk in closet. The backyard is perfect for relaxing or entertaining. The meticulous manicured community has a playground, private pool and a low cost HOA! Very close proximity to Placentia restaurants, shops, and award-winning schools.
SEE MORE
MARKET HIGHLIGHTS
- 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
- As part of Southern California area, Orange County market inherits all the benefits from the area.
- 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)
PRICE & RENT TRENDS
Zip Code: 92870
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92870
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,810 |
| EXPENSES | Loan Payment | -$2,358 |
| Property Tax | -$663 | |
| Property Insurance | -$67 | |
| HOA | -$145 | |
| Property Management Fees | -$138 | |
|
CASH FLOW
-$560
|
||
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.
$639,000
PROJECTED PRICE
$2,810
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 5.54% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$175,085
LOAN DETAILS
$2,358
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $159,750 |
| Loan Amount | $479,250 |
1.67
YEARS SAVED
$7,991
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,810
LIST RENT -
$1.71
LIST RENT PER SQFT
-
$2,855
COMP ESTIMATED VALUE -
$1.74
COMP AVG. RENT PER SQFT
Comps Range
-
242 Grant Lane Placentia, 1
- 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1998
- Rent
- Rent Per SQFT
- $2,810
- $1.71
-
1770 Pierce Lane Placentia, 2
- 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998
LEASED 09/19/19- Rent
- Rent Per SQFT
- $2,900
- $1.61
-
300 Navarette Place Placentia, 3
- 4 beds 3 baths ∙ 1,540 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,540 Sqft ∙ Built 1998
LEASED 05/12/20- Rent
- Rent Per SQFT
- $2,900
- $1.88
-
1744 Hayes Court Placentia, 4
- 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 1998
LEASED 06/19/20- Rent
- Rent Per SQFT
- $3,100
- $1.71
-
1444 Samp Lane Placentia, 5
- 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1998
LEASED 08/17/20- Rent
- Rent Per SQFT
- $3,350
- $1.76
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20171120
Last Updated: 08/25/2020
