1223 E Monroe Avenue E
About This Property
The open-concept living space features beautiful wood floors that flow seamlessly from room to room. Natural light pours in through newer windows, creating a bright and airy atmosphere. The three bedrooms offer comfortable retreats, perfect for restful nights. The two bathrooms are tastefully appointed, ensuring convenience for both residents and guests. One of the standout features of this property is the massive backyard oasis. Imagine spending your weekends in this private space, surrounded by mature trees. The yard is an entertainer's dream, providing endless possibilities for outdoor gatherings, gardening, or simply unwinding in a tranquil setting. The Backyard has lots of grass and concrete areas that you can customize to your liking. For the environmentally conscious homeowner, the leased solar panels not only help reduce energy costs, but also contribute to a greener future. They are leased for $110.00 monthly. There is also a newer HVAC system, newer roof (2018,) updated windows, and the home has been repiped with copper pipes (2019.) Parking is convenient in the attached two-car garage, with two more spaces available in the driveway. Location-wise, you can't beat this prime spot in the city of Orange. It's just a short distance to Chapman University (1 and 1/2 miles,) making it an ideal investment for those affiliated with the university or anyone seeking easy access to the vibrant campus and all the amenities that the City of Orange has to offer. Don't miss the opportunity to make this charming single-story home with its expansive backyard, your private retreat. This home is brimming with potential and flexibility, offering countless options for customization. The home is close to Old Town Orange, and has convenient access to major freeways. Come take a look!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 16, 2024 | Sold | ||
| Sold | |||
| Jun 5, 2024 | Listed by Berkshire Hathaway HomeServices California Properties | $954,000 | |
| Listed by Berkshire Hathaway HomeServices California Properties | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017