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1421 S Garnsey Street Santa Ana, CA 92707

3 Beds 2 Baths 1,392 sqft Built 1954

$600,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $431.03
  • 9 Days on Market
  • MLS # : CV21030749
  • Updated Date : 02/19/2021 at 16:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,392 sqft
  • Baths : 2 full
Listing Agent

Century 21 Primetime Realtors

Listing Agent's Description

Awesome Opportunity to Own this Enchanting Home with Beautiful tree-lined streets in the Desireable Wilshire Square area.  Great Floorplan with Fireplace in Living Room and plenty of driveway parking!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Wilshire Square

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $190k742k

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

Neighborhood: Wilshire Square

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21400160018002000220024002600280030003200Rent in $13973345

* 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
Glenn L. Martin Elementary School Primary Regular 777 30 4
Gerald P. Carr Intermediate School Middle Regular 1,557 63 1
Saddleback High School High Regular 1,690 78 5

Glenn L. Martin Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 30
4
GreatSchools Rating

Gerald P. Carr Intermediate School

  • Education Level: Middle
  • # of students: 1,557
  • # of teachers: 63
1
GreatSchools Rating

Saddleback High School

  • Education Level: High
  • # of students: 1,690
  • # of teachers: 78
5
GreatSchools Rating
 

$540,000$660,000$600,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,084
Property Tax -$620
Property Insurance -$61
Property Management Fees -$151
CASH FLOW
$164

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.

$600,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.51%

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$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$65,553

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
  • $2.21

    LIST RENT PER SQFT
  • $3,139

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,7004$2,8405$3,080
$3,080
RENT COMPS ANALYSIS
  • 1421 S Garnsey Street Santa Ana, CA 5
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $2.21
    •  
  • 3070 Bradford Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1973
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.31
    •  
  • 1001 W Macarthur Boulevard Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.24
    •  
  • 720 W Saint Gertrude Place Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1948
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.10
    •  
  • 1117 Halladay Santa Ana, CA 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1955
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $2.37
    •  
PROPERTY LISTING DETAILS
Angel Reyes
Century 21 Primetime Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21030749
Last Updated: 02/19/2021
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