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1001 W Stevens Avenue #116 Santa Ana, CA 92707

3 Beds 2 Baths 981 sqft Built 1973

$379,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $387.26
  • 5 Days on Market
  • MLS # : PW21005714
  • Updated Date : 01/14/2021 at 09:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 981 sqft
  • Baths : 2 full
Listing Agent

Realty Pro 100

Listing Agent's Description

Ready for Move in! 3 Bedroom, 2 full bathroom single level ground floor condo in South Coast Metro, across the street from South Coast Plaza. This condo features NEWER; counters, cabinets, stainless appliances, sinks, laminate and tile. Additionally, it has ample living area, private storage closet, and its own large patio. Amenities include community laundry, pool, spa, wading pool. HOA dues includes: dumpster, gas and water. 1 assigned carport parking, 1 permit uncovered parking space. Close to the 405, 73 and 55 freeways.

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: South Coast

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $122k742k

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

Neighborhood: South Coast

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943345

* 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
Taft Elementary School Primary Regular 641 30 2
Mcfadden Intermediate School Middle Regular 1,374 55 3
Saddleback High School High Regular 1,690 78 5

Taft Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 30
2
GreatSchools Rating

Mcfadden Intermediate School

  • Education Level: Middle
  • # of students: 1,374
  • # of teachers: 55
3
GreatSchools Rating

Saddleback High School

  • Education Level: High
  • # of students: 1,690
  • # of teachers: 78
5
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,320
Property Tax -$424
Property Insurance -$51
HOA -$386
Property Management Fees -$104
CASH FLOW
-$165

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$379,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $2,220

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,120
1$2,1202$2,2003$2,4504$2,500
$2,500
RENT COMPS ANALYSIS
  • 1001 W Stevens Avenue Santa Ana, CA 1
    • 3 beds 2 baths ∙ 981 Sqft ∙ Built 1973 3 beds 2 baths ∙ 981 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $2.16
    •  
  • 1001 W Stevens Avenue Santa Ana, CA 2
    • 3 beds 2 baths ∙ 981 Sqft ∙ Built 1972 3 beds 2 baths ∙ 981 Sqft ∙ Built 1972
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.24
    •  
  • 3070 Bradford Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1973
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.31
    •  
  • 1001 W Macarthur Boulevard Santa Ana, CA 4
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.24
    •  
PROPERTY LISTING DETAILS
Gene Tsair
Realty Pro 100
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21005714
Last Updated: 01/14/2021
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