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1220 E 15th Street Santa Ana, CA 92701

3 Beds 2 Baths 1,700 sqft Built 1977

$729,900

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $429.35
  • 73 Days on Market
  • MLS # : SW20183967
  • Updated Date : 11/13/2020 at 10:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Rancon Real Estate-murrieta

Listing Agent's Description

Location! Location! Location! Beautiful home on corner lot with separate RV parking! It is conveniently located within walking distance to shopping and dining. This home features 3 bedrooms and 2 bathroom plus an added workshop/multi purpose room in the back of the property. It has fresh paint throughout and new carpet in master bedroom. Some of the upgrades include granite counters and upgraded cabinets in the kitchen, whole house fan, new insulated garage doors, newer tile floors and much more. Enjoy cool evening sitting by beautiful fruit trees or entertaining family in the covered patio off the kitchen next to separate entrance for two cars or RV. This home has so much to offer you can not miss it! This one will not last! "Please follow all guidelines pertaining to Cov19 regulations”.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Cabrillo Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k742k

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

Neighborhood: Cabrillo Park

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
Herbert Hoover Elementary School Primary Regular 437 17 4
Raymond A. Villa Fundamental Intermediate School Middle Regular 1,348 46 3
Santa Ana High School High Regular 2,741 110 3

Herbert Hoover Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 17
4
GreatSchools Rating

Raymond A. Villa Fundamental Intermediate School

  • Education Level: Middle
  • # of students: 1,348
  • # of teachers: 46
3
GreatSchools Rating

Santa Ana High School

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

$656,910$802,890$729,900

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,693
Property Tax -$754
Property Insurance -$68
Property Management Fees -$157
CASH FLOW
-$472

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.

$729,900

PROJECTED PRICE

$3,200

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.5%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$199,174

INVESTMENT

$199,174

Down Payment
$182,475
Rehab Estimate
$5,750
Closing Costs
$10,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,693

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,475
Loan Amount $547,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$23,551

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $3,226

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9953$3,2004$3,2955$3,400
$3,400
RENT COMPS ANALYSIS
  • 1220 E 15th Street Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.88
    •  
  • 1630 E Fruit Street Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1977
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.91
    •  
  • 2134 N Eastwood Avenue Santa Ana, CA 2
    • 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.85
    •  
  • 913 Mirasol Street Santa Ana, CA 4
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1959
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.89
    •  
  • 2425 N Linwood Avenue Santa Ana, CA 5
    • 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1972
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.94
    •  
PROPERTY LISTING DETAILS
Natalia Bracco
Rancon Real Estate-murrieta
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20183967
Last Updated: 11/13/2020
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