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1212 N Louise Street Santa Ana, CA 92703

4 Beds 3 Baths 2,664 sqft Built 1939

$799,995

List Price

$3,650

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $300.30
  • 4 Days on Market
  • MLS # : OC21056297
  • Updated Date : 03/19/2021 at 17:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,664 sqft
  • Baths : 3 full
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Unique and spectacular property located at the gateway to Washington Square, one of Santa Ana's most charming historical districts. Situated on a large corner lot, this home has tremendous space and storage and is flooded with natural light. You will enjoy: 4 oversized bedrooms with one of them downstairs, a large remodeled kitchen with breakfast nook, formal living room, formal dining room and family room with so many built-ins, 3 full bathrooms, beautiful wood floors throughout, air conditioning on both levels, back deck off kitchen for outdoor meals and entertaining, large garage. The upgrades afforded by this home are abundant: newer electrical panel, new copper plumbing, AC added to second floor, newer furnace and ductwork, new windows, new paint, remodeled kitchen, recessed lighting, new vinyl fence, and so much more. Located in the popular Washington Square neighborhood, it is within walking distance to Santa Ana College, Orange County School of the Arts, Downtown Santa Ana and the Metrolink/Amtrak station. A short ride will take you to South Coast Metro, where you can enjoy a theatrical performance or shopping at South Coast Plaza.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Washington Square

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k742k

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

Neighborhood: Washington Square

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15173345

* 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
Woodrow Wilson Elementary School Primary Regular 780 27 2
Frances E. Willard Intermediate School Middle Regular 878 43 1
Santa Ana High School High Regular 2,741 110 3

Woodrow Wilson Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 27
2
GreatSchools Rating

Frances E. Willard Intermediate School

  • Education Level: Middle
  • # of students: 878
  • # of teachers: 43
1
GreatSchools Rating

Santa Ana High School

  • Education Level: High
  • # of students: 2,741
  • # of teachers: 110
3
GreatSchools Rating
 

$719,996$879,995$799,995

PURCHASE PRICE

$3,285$4,015$3,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,650
EXPENSES Loan Payment -$2,779
Property Tax -$833
Property Insurance -$91
Property Management Fees -$179
CASH FLOW
-$232

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.

$799,995

PROJECTED PRICE

$3,650

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.6%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$217,749

INVESTMENT

$217,749

Down Payment
$199,999
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,999
Loan Amount $599,996
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$40,584

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,650

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $3,676

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$3,650
1$3,6502$3,750
$3,750
RENT COMPS ANALYSIS
  • 1212 N Louise Street Santa Ana, CA 1
    • 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1939 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1939
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.37
    •  
  • 2001 N Flower Street Santa Ana, CA 2
    • 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 1936 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 1936
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.38
    •  
PROPERTY LISTING DETAILS
Tricia Poissonnier
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21056297
Last Updated: 03/19/2021
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