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1517 Franzen Avenue Santa Ana, CA 92705

4 Beds 2 Baths 1,575 sqft Built 1972

$719,900

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $457.08
  • 4 Days on Market
  • MLS # : PW21043073
  • Updated Date : 03/06/2021 at 06:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,575 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Built in 1972, a single story home located in a desirable neighborhood. First time on the market in over 40 years. Set on a very quiet tree lined street in North Santa Ana it enjoys Orange schools. There is approximately 1,575 square feet of living space including four bedrooms and two full bathrooms. Includes a spacious master bedroom with natural light overlooking the backyard. Large living room with lots of natural light, adjacent to the kitchen and dining room with a brick fireplace. Separate laundry room with attached two- car garage. This beautiful property is sitting on a 6,023 square foot lot. Conveniently located to Old Town Orange, Down Town Santa Ana, Tustin, and freeways.

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: 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
Portola Middle School Middle Regular 735 36 3
Orange High School High Regular 1,927 79 4
Portola Middle School Middle Unknown NA

Portola Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 36
3
GreatSchools Rating

Orange High School

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

Portola Middle School

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

$647,910$791,890$719,900

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$2,500
Property Tax -$707
Property Insurance -$65
Property Management Fees -$148
CASH FLOW
-$391

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.

$719,900

PROJECTED PRICE

$3,030

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.5%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$196,524

INVESTMENT

$196,524

Down Payment
$179,975
Rehab Estimate
$5,750
Closing Costs
$10,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,500

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $179,975
Loan Amount $539,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$22,144

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $3,016

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0303$3,2504$3,4005$3,400
$3,400
RENT COMPS ANALYSIS
  • 1517 Franzen Avenue Santa Ana, CA 2
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $1.92
    •  
  • 809 Grovemont Street Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1952
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.85
    •  
  • 13102 Marshall Lane Tustin, CA 3
    • 4 beds 2 baths ∙ 1,747 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,747 Sqft ∙ Built 1976
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.86
    •  
  • 2425 N Linwood Avenue Santa Ana, CA 4
    • 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1972
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.94
    •  
  • 2218 N Linwood Avenue Santa Ana, CA 5
    • 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 1967
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.01
    •  
PROPERTY LISTING DETAILS
Vanessa Villa
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21043073
Last Updated: 03/06/2021
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