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13801 Harper Street Santa Ana, CA 92703

3 Beds 1 Baths 1,019 sqft Built 1953

$629,900

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $618.16
  • 3 Days on Market
  • MLS # : PW20247487
  • Updated Date : 11/27/2020 at 15:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,019 sqft
  • Baths : 1 full
Listing Agent

Eagle First Real Estate Srvs

Listing Agent's Description

Charming home in Santa Ana with three Bright bedrooms, one Bathroom. Cozy Living room opens to the bright dining area, and to the Kitchen. Laundry area in Garage. The back yard has some fruit trees and offers plenty of space for your garden and more. The house has a two-car garage, plus a long driveway. Public transportation nearby. Come and enjoy this welcoming neighborhood!

SEE MORE

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: Garden Grove

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k742k

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

Neighborhood: Garden Grove

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
Clinton-mendenhall Elementary School Primary Regular 749 27 4
Doig Intermediate School Middle Regular 856 31 6
Santiago High School High Regular 2,214 87 6

Clinton-mendenhall Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 27
4
GreatSchools Rating

Doig Intermediate School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 31
6
GreatSchools Rating

Santiago High School

  • Education Level: High
  • # of students: 2,214
  • # of teachers: 87
6
GreatSchools Rating
 

$566,910$692,890$629,900

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$2,324
Property Tax -$700
Property Insurance -$52
Property Management Fees -$111
CASH FLOW
-$927

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.

$629,900

PROJECTED PRICE

$2,260

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.4%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

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$172,674

INVESTMENT

$172,674

Down Payment
$157,475
Rehab Estimate
$5,750
Closing Costs
$9,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,475
Loan Amount $472,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $2.22

    LIST RENT PER SQFT
  • $2,290

    COMP ESTIMATED VALUE
  • $2.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,260
1$2,2602$2,3003$2,5004$2,8205$3,000
$3,000
RENT COMPS ANALYSIS
  • 13801 Harper Street Santa Ana, CA 1
    • 3 beds 1 baths ∙ 1,019 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,019 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $2.22
    •  
  • 11255 Parkview Lane Garden Grove, CA 2
    • 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1973
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.25
    •  
  • 13118 Newell Street Garden Grove, CA 3
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1953
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.16
    •  
  • 12872 Sungrove Street Garden Grove, CA 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1958
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $2.09
    •  
  • 13422 Buena Way Garden Grove, CA 5
    • 4 beds 2 baths ∙ 1,204 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,204 Sqft ∙ Built 1955
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.49
    •  
PROPERTY LISTING DETAILS
Maria Rodriguez
Eagle First Real Estate Srvs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20247487
Last Updated: 11/27/2020
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