End-Unit Residential Income
For Sale
$675,000
343 Prairie Ct, Brea, CA 92821
Condominium layout includes a private backyard, vaulted ceilings, and an oversized garage with rear storage space.
Property Size1,122 SF
Price / SF$601.60
Days on Market21
Property Features for 343 Prairie Ct
General Information
Standard status
Active
Size
1,122 SF
Property subtype
Commercial
Building Details
Year Built
1973
Listing Agency:
Synergy Real Estate
Listed By:
Andy Castaneda AndyCastanedaRealtor@gmail.com
Source:
Viewsandiegohouses
Added: Sep 10
Changed: Sep 28
Last Checked: Sep 30 at 12:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Synergy Real Estate
Investment Insights
Based on property information with market context.
This 1,122-square-foot end-unit condominium, built in 1973, has one shared wall and vaulted ceilings. The open kitchen connects with the main living area, while large windows and dual-pane glazing bring daylight into the interior. Central air and heat serve the home. Outside, a private backyard includes a custom deck and greenery. An oversized garage offers additional storage space at the rear.
The property is at 343 Prairie Ct in Brea, within the Brea Olinda Unified School District. The 57 Freeway, downtown Brea, shopping, dining, and entertainment are described as nearby.
The property is at 343 Prairie Ct in Brea, within the Brea Olinda Unified School District. The 57 Freeway, downtown Brea, shopping, dining, and entertainment are described as nearby.
Key Highlights
- End‑unit condominium with only one shared wall
- 1,122 square feet; built in 1973
- Private backyard with a custom deck
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,416
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$428,320
$428.3K
Cap Rate 7%
$305,943
$305.9K
Cap Rate 9%
$237,956
$238.0K
Market Conditions
NOI Build-Up for 1,122 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.4K $36.00/SF
− Vacancy
−$1.5K −$1.30/SF
EGI
$38.9K $34.70/SF
− OpEx
−$17.5K −$15.62/SF
NOI
$21.4K $19.09/SF
Area
Orange County, CA
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$428,320
Cap Rate 7%
$305,943
Cap Rate 9%
$237,956
Alternative Uses
Best Use
Apartment 5plus
$305.9K
$267.7K – $356.9K
NOI $21,416 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.9K
$329.8K – $439.7K
NOI $26,380 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,234
Businesses Nearby
Explore this area
Business Placement
Demographics for 92821, CA
41,335
Population
15,232
Households
2.7
Avg Household Size
40
Median Age
49%
College-Educated
93%
High-School Grad
14.1 sq mi
ZIP Area
2,932
Density / Sq Mi
$116,660
Median Household Income
$59,010
Median Earnings
$2,254
Median Rent
$851,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium layout includes a private backyard, vaulted ceilings, and an oversized garage with rear storage space.
Where is this residential income property located?
The property is located at 343 Prairie Ct Brea, CA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: End‑unit condominium with only one shared wall; 1,122 square feet; built in 1973; Private backyard with a custom deck
