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

1615 W 12th Street Santa Ana, CA 92703

4 Beds 2 Baths 1,400 sqft Built 1949

$749,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $535.00
  • 2 Days on Market
  • MLS # : OC21052109
  • Updated Date : 03/13/2021 at 10:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

William Doody, Broker

Listing Agent's Description

Come see this beautiful fully remodeled 4 bedroom, 2 full bath cozy house with an open floorplan. The designer completely reimagined this gem in a highly desirable neighborhood in Santa Ana. This large home has been updated from top to bottom, and features an abundance of brand new amenities which include new HVAC with Google smart thermostat, quartz countertops with gold flavor, new appliances, designer paint, huge master bedroom, custom bathrooms with an interior designer's professional touch, front and backyard irrigation, and more! Come see this home before it is gone!!

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: Artesia Pilar

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $188k742k

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

Neighborhood: Artesia Pilar

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14583345

* 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
George Washington Carver Elementary School Primary Regular 675 26 3
Spurgeon Intermediate School Middle Regular 992 41 1
Valley High School High Regular 2,263 94 4

George Washington Carver Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 26
3
GreatSchools Rating

Spurgeon Intermediate School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 41
1
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
4
GreatSchools Rating
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,602
Property Tax -$774
Property Insurance -$61
Property Management Fees -$147
CASH FLOW
-$593

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.

$749,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$11,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $3,171

    COMP ESTIMATED VALUE
  • $2.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9903$3,0004$3,2505$3,400
$3,400
RENT COMPS ANALYSIS
  • 1615 W 12th Street Santa Ana, CA 2
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1949 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $2.14
    •  
  • 2014 W 11th Street Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1954
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.47
    •  
  • 2213 Spinnaker Street Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1961
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.35
    •  
  • 2379 N Flower Street Santa Ana, CA 4
    • 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1937
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.16
    •  
  • 2233 Tamy Lane Santa Ana, CA 5
    • 4 beds 2 baths ∙ 1,634 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,634 Sqft ∙ Built 1955
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.08
    •  
PROPERTY LISTING DETAILS
William Doody
William Doody, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21052109
Last Updated: 03/13/2021
BESbswy