Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1419 Grovemont Street Santa Ana, CA 92705

4 Beds 2 Baths 1,626 sqft Built 1963

INVESTimate

$780,000

List Price

$3,080

$2,830 - $3,330

Rent Est.

$846,612  ( +8.54%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1963
  • Price/Sqft : $479.70
  • 9 Days on Market
  • MLS # : OC20169074
  • Updated Date : 08/18/2020 at 18:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,626 sqft
  • Baths : 2 full
Listing Agent

Leonardo H. Ramil, Broker

Listing Agent's Description

Beautiful Home in beautiful neighborhood. Pool on Large Lot. Walking distance to schools. New HVAC, new windows, granite kitchen counters, fans throughout, crown moulding. Well cared for. A MUST SEE

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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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
Fairhaven Elementary School Primary Regular 587 25 3
Fairhaven Elementary School Middle Regular 587 25 3
Orange High School High Regular 1,927 79 4

Fairhaven Elementary School

  • Education Level: Primary
  • # of students: 587
  • # of teachers: 25
3
GreatSchools Rating

Fairhaven Elementary School

  • Education Level: Middle
  • # of students: 587
  • # of teachers: 25
3
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$702,000$858,000$780,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,878
Property Tax -$770
Property Insurance -$66
Property Management Fees -$151
CASH FLOW
-$785

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.

$780,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.54%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$8,567

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $3,045

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,8003$2,9954$3,0805$3,400
$3,400
RENT COMPS ANALYSIS
  • 1419 Grovemont Street Santa Ana, 4
    • 4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $1.89
    •  
  • 924 Dayna Street Santa Ana, 1
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1958
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.87
    •  
  • 800 E Van Bibber Avenue Orange, 2
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1963
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.83
    •  
  • 2134 N Eastwood Avenue Santa Ana, 3
    • 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965
    property image
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.85
    •  
  • 2425 N Linwood Avenue Santa Ana, 5
    • 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1972
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.94
    •  
PROPERTY LISTING DETAILS
Leonardo Ramil
Leonardo H. Ramil, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20169074
Last Updated: 08/18/2020
BESbswy