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13831 Pasadena Street Santa Ana, CA 92705

3 Beds 3 Baths 1,808 sqft Built 1959

$899,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $497.23
  • 7 Days on Market
  • MLS # : OC20248240
  • Updated Date : 11/30/2020 at 10:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,808 sqft
  • Baths : 3 full
Listing Agent

Congress Realty, Inc

Listing Agent's Description

Great Home in the Tustin School District! Updated Kitchen and Bathrooms. Hardwood and Travertine floors throughout. Fresh paint inside and out. Ready to move in! Large Pool in Large Backyard. Large 6 car driveway. Playhouse and two storage buildings. Home office and laundry room is separated by the garage. Also has a Large Family Room and Den.

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: Tustin

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k745k

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

Neighborhood: Tustin

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $16013345

* 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
Loma Vista Elementary School Primary Regular 540 19 5
Hewes Middle School Middle Regular 958 32 8
Foothill High School High Regular 2,526 94 9

Loma Vista Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 19
5
GreatSchools Rating

Hewes Middle School

  • Education Level: Middle
  • # of students: 958
  • # of teachers: 32
8
GreatSchools Rating

Foothill High School

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

$809,100$988,900$899,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$3,317
Property Tax -$887
Property Insurance -$71
Property Management Fees -$162
CASH FLOW
-$1,136

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$899,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,529

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $3,340

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,3003$3,3004$3,5005$3,700
$3,700
RENT COMPS ANALYSIS
  • 13831 Pasadena Street Santa Ana, CA 3
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1959 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.83
    •  
  • 913 Mirasol Street Santa Ana, CA 1
    • 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
    •  
  • 1105 N Lyon Street Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1955
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.80
    •  
  • 722 Sherry Lane Santa Ana, CA 4
    • 4 beds 3 baths ∙ 1,939 Sqft ∙ Built 1960 4 beds 3 baths ∙ 1,939 Sqft ∙ Built 1960
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.81
    •  
  • 13242 Wheeler Place North Tustin, CA 5
    • 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 1958
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.89
    •  
PROPERTY LISTING DETAILS
Donald Plunkett
Congress Realty, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20248240
Last Updated: 11/30/2020
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