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1518 Clemensen Avenue Santa Ana, CA 92705

5 Beds 3 Baths 2,287 sqft Built 1964

$889,000

List Price

$3,690

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $388.72
  • 4 Days on Market
  • MLS # : OC21021036
  • Updated Date : 02/04/2021 at 11:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,287 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

MUST SEE!!! This spectacular 5-bedroom home features bright white and cool gray tones, recessed lighting, and upgraded laminate flooring throughout. Enter into the open and spacious living room with an electric fireplace with multiple light colors. The large windows allow an abundance of natural light to illuminate the open floor plan. The master suite with walk-in closet, a private remodeled bathroom with a large glass shower and rainfall showerhead, new vanities, tiles flooring, and tiled walls. Step down into the family room, dining area, a breakfast counter bar, inside laundry room, and half bathroom. The gorgeous gourmet kitchen impresses with fresh white cabinetry, Quartz Island and granite countertops, full backsplash, high-end BOSCH stainless steel appliances include 5-burner gas cooktop with hood, double ovens - one convection and dishwasher. The large sliding doors lead to the serene backyard with a large pool, spa, safety fence, and open patio area, perfect for entertaining. Up the beautiful staircase, you will find four additional spacious bedrooms and a full upgraded bathroom. Two-car garage with direct access, extended driveway, dual pane windows, newer A/C unit, water heater and roof. 1 mile from Old Towne Orange, 5 miles from Disneyland, 20mins from Newport beach, close to shopping, dining, parks, Medical Centers, easy freeway access to the 5, 55, and 22. Must see the supplement with Home Feature details.

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: 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
 

$800,100$977,900$889,000

PURCHASE PRICE

$3,321$4,059$3,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,690
EXPENSES Loan Payment -$3,088
Property Tax -$878
Property Insurance -$82
Property Management Fees -$181
CASH FLOW
-$539

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.

$889,000

PROJECTED PRICE

$3,690

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$241,335

INVESTMENT

$241,335

Down Payment
$222,250
Rehab Estimate
$5,750
Closing Costs
$13,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,088

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $222,250
Loan Amount $666,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$23,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,690

    LIST RENT
  • $1.61

    LIST RENT PER SQFT
  • $3,791

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3003$3,6904$3,8755$3,995
$3,995
RENT COMPS ANALYSIS
  • 1518 Clemensen Avenue Santa Ana, CA 3
    • 5 beds 3 baths ∙ 2,287 Sqft ∙ Built 1964 5 beds 3 baths ∙ 2,287 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $3,690
    • $1.61
    •  
  • 1210 Joana Drive Santa Ana, CA 1
    • 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 1968
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.59
    •  
  • 2025 Deodar Street Santa Ana, CA 2
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1963
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.52
    •  
  • 234 S Rosalind Drive Orange, CA 4
    • 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 1963
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,875
    • $1.68
    •  
  • 1420 E 21st Street Santa Ana, CA 5
    • 5 beds 2 baths ∙ 2,167 Sqft ∙ Built 1963 5 beds 2 baths ∙ 2,167 Sqft ∙ Built 1963
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.84
    •  
PROPERTY LISTING DETAILS
Susan Karcher
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21021036
Last Updated: 02/04/2021
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