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1401 W Santa Clara Avenue Santa Ana, CA 92706

3 Beds 2 Baths 1,152 sqft Built 1954

$699,900

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $607.55
  • 6 Days on Market
  • MLS # : CV21022108
  • Updated Date : 02/05/2021 at 17:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,152 sqft
  • Baths : 2 full
Listing Agent

Re/max Top Producers

Listing Agent's Description

*FULLY RENOVATED* SINGLE STORY home located in the heart of Santa Ana - WEST FLORAL PARK! This beautifully renovated home has an open floor plan, fresh paint on interior/exteriors, recessed lighting, quartz kitchen island and countertops, tons of natural light throughout and so much more. As you enter the home you are greeted by a bright and spacious family room that opens to the kitchen. The kitchen has new cabinets, beautiful island with an overhang perfect for barstools, quartz countertops, decorative tile backsplash, stainless steel appliances, self closing cabinets and tons of cabinets space. All three bedrooms are spacious and equipped with ceiling fans. Bathrooms have new flooring, cabinets, and fixtures. Home sits in a charming neighborhood, you wont want to miss out on this home!

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: Riverview

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $203k742k

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

Neighborhood: Riverview

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15153345

* 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
Santa Ana High School High Regular 2,741 110 3
Santa Ana High School High Unknown NA

Santa Ana High School

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

Santa Ana High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,431
Property Tax -$723
Property Insurance -$55
Property Management Fees -$128
CASH FLOW
-$727

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.

$699,900

PROJECTED PRICE

$2,610

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.4%
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$10k$15k

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$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $2,267

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,6103$2,6954$2,7505$2,820
$2,820
RENT COMPS ANALYSIS
  • 1401 W Santa Clara Avenue Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $2.27
    •  
  • 2100 W Palmyra Avenue Orange, CA 1
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1973
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.75
    •  
  • 1910 W Palmyra Avenue Orange, CA 3
    • 3 beds 1 baths ∙ 1,359 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,359 Sqft ∙ Built 1973
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.98
    •  
  • 4328 W Simmons Avenue Orange, CA 4
    • 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1955
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.05
    •  
  • 12872 Sungrove Street Garden Grove, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Sahar Moghadam
Re/max Top Producers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21022108
Last Updated: 02/05/2021
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