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

1 Carriage Lane Santa Ana, CA 92705

4 Beds 3 Baths 2,323 sqft Built 1997

$950,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $408.95
  • 5 Days on Market
  • MLS # : NP20231472
  • Updated Date : 11/04/2020 at 14:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,323 sqft
  • Baths : 2 full , 1 half
Listing Agent

Burr White Realty

Listing Agent's Description

You will love this single level home in the highly sought after "Carriage Square" gated community in North Tustin. Only 19 homes in this community located steps to the Esplanade Trail for walking. Great open floor plan with (3 bedrooms plus a den/office that can be used as a 4th bedroom) 2.5 baths, 10 foot ceilings, multiple windows with wood shutters through out. Open kitchen and family room are connected for great room feel. Kitchen has granite counter tops and a double oven. Two bedrooms and a full bath are on one side of the house and the master bedroom is on the other side with a very large master bath, that includes a shower, tub double sinks and 2 walk-in closets. A sliding glass door in the bedroom leads to the covered patio and yard with a built-in BBQ. The 2 car garage is attached and joins with the laundry room. A big plus is a paid "Solar System" for a very low electric bill. This is a great area close to Enderle Shopping Center, restaurants, old town Tustin and the 5, 55 and 22 freeways. Great Schools and more!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: East Tustin

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $205k922k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: East Tustin

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $16013818

* 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
Guin Foss Elementary School Primary Regular 452 16 8
Columbus Tustin Middle School Middle Magnet 938 34 5
Foothill High School High Regular 2,526 94 9

Guin Foss Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 16
8
GreatSchools Rating

Columbus Tustin Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 34
5
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 94
9
GreatSchools Rating
 

$855,000$1,045,000$950,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$3,505
Property Tax -$907
Property Insurance -$83
HOA -$120
Property Management Fees -$176
CASH FLOW
-$1,201

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$950,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $3,583

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5903$3,6004$3,8005$4,200
$4,200
RENT COMPS ANALYSIS
  • 1 Carriage Lane Santa Ana, CA 2
    • 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $1.55
    •  
  • 13841 Marshall Lane Tustin, CA 1
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 1977
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.48
    •  
  • 12171 Mcculla Drive Tustin, CA 3
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1996
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.44
    •  
  • 17796 E Santa Clara Avenue Santa Ana, CA 4
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1978
    LEASED 05/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.63
    •  
  • 12141 Lamb Drive Tustin, CA 5
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1995
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.62
    •  
PROPERTY LISTING DETAILS
Joan Trout
Burr White Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP20231472
Last Updated: 11/04/2020
BESbswy