1515 Fisher Circle, Placentia, California 92870, Placentia, 92870 - 4 bed, 2 bath

1515 Fisher Circle, Placentia, California 92870 home-pic-0
ACTIVE$1,350,000
1515 Fisher Circle, Placentia, California 92870
4Beds
2Baths
1,512Sqft
6,000Lot

Price Vs. Estimate

The estimated value ($847,202.8) is $502,797.2 (37%) lower than the list price ($1,350,000). This property may be overpriced.

Key pros and cons

Top Pros:
Licensed Short-Term Rental: The property is explicitly licensed and permitted for short-term vacation rentals, offering immediate operational capability for investors.
Top Cons:
Significant Overpricing: The listing price is considerably higher than the estimated market value, suggesting a potential overvaluation based on comparative properties.

Compared to the nearby listings

Price:$1.35M vs avg $1.20M (+$150,000)69%
Size:1,512 sqft vs avg 2,006 sqft18%
Price/sqft:$893 vs avg $60099%

More Insights

Built in 1965 (60 years old).
Condition: Despite being built in 1965, this property has undergone extensive and recent renovations, particularly in the kitchen and bathrooms, which feature modern finishes, updated cabinetry, countertops, and fixtures (including a jetted whirlpool tub). The home boasts new-looking LVP flooring, modern carpeting, recessed lighting, and contemporary ceiling fans throughout. The addition of central AC/heating, a solar lease, and a converted game room with epoxy flooring further enhance its modern appeal and functionality, making it virtually new in its key living components and move-in ready.
Year Built
1965
Close
-
List price
$1.35M
Original List price
$1.35M
Price/Sqft
$893
HOA
-
Days on market
-
Sold On
-
MLS number
TR24231699
Home ConditionExcellent
Features
Patio
View-

About this home

Looking for great Airbnb investment opportunity? Welcome to this exceptional home in a cul-de-sac with large lot that is licensed and permitted for short term vacation rental. Centrally located in the heart of Orange County, this fully loaded 4 bedroom / 2 bathroom home has been the getaway for many Disneyland area vacationers. Upon entry, the cozy living room features a fireplace with an open layout leading to the private backyard and covered patio area great for BBQ and relaxation. Spacious dining room and fully equipped kitchen. Main bedroom also has direct sliding door access to backyard. Each bedroom offers good size closets, large windows with plantation shutters. Recess light and ceiling fans throughout. Renovated kitchen, master bathroom and 2nd bathroom with large jetted whirlpool tub. The garage is transformed into a game room and laundry with upgrade epoxy flooring. The home features AC and central heating. Zero cost solar lease with 6 years remaining with surplus electricity saving roughly $250 per month: owner receives additional check at year end for surplus energy generated. Artificial turf in front yard for easy maintenance. Close to all major freeway, beaches, and sports stadiums. Price includes all furniture, appliances, furnishing, and supplies used to operate the Airbnb. Refrigerator, washer/dryer, patio furniture, propane grill, outdoor swing, 3 queen beds, 2 twin over twin bunk beds, dining table set, recliner sofa, 2 TVs, TV stand, Skee-ball table, 3 Arcades, Pinball, Air Hockey, Pingpong, Karaoke, Foosball included! Projected CAP Rate 6% with 82% occupany rate. A MUST SEE!

Condition Rating
Excellent

Despite being built in 1965, this property has undergone extensive and recent renovations, particularly in the kitchen and bathrooms, which feature modern finishes, updated cabinetry, countertops, and fixtures (including a jetted whirlpool tub). The home boasts new-looking LVP flooring, modern carpeting, recessed lighting, and contemporary ceiling fans throughout. The addition of central AC/heating, a solar lease, and a converted game room with epoxy flooring further enhance its modern appeal and functionality, making it virtually new in its key living components and move-in ready.
Pros & Cons

Pros

Licensed Short-Term Rental: The property is explicitly licensed and permitted for short-term vacation rentals, offering immediate operational capability for investors.
Turnkey Investment: Includes all necessary furniture, appliances, and supplies, allowing for immediate operation as an Airbnb without additional setup costs.
Strong Financial Projections: Boasts a projected 6% CAP rate and 82% occupancy, indicating robust income potential for investors.
Prime Orange County Location: Centrally located with excellent proximity to major attractions like Disneyland, freeways, beaches, and sports stadiums, enhancing rental appeal.
Enhanced Amenities & Renovations: Features recently renovated kitchen and bathrooms, a dedicated game room, AC/heating, and a beneficial solar lease, adding value and guest appeal.

Cons

Significant Overpricing: The listing price is considerably higher than the estimated market value, suggesting a potential overvaluation based on comparative properties.
Older Property Age: Built in 1965, the property's age may lead to concerns about underlying infrastructure or future maintenance requirements despite recent cosmetic updates.
Compact Interior Space: With 1512 sqft for four bedrooms, the interior living area might be perceived as relatively compact for its bedroom count and price point.

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