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1913 W Wakeham Place Santa Ana, CA 92704

3 Beds 2 Baths 1,710 sqft Built 1973

$710,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $415.20
  • 16 Days on Market
  • MLS # : OC21136597
  • Updated Date : 06/28/2021 at 17:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,710 sqft
  • Baths : 2 full
Listing Agent

First Team Estates

Listing Agent's Description

This private residence is immersed in an exclusive gated community with a grand central lake right in the heart of attractive South Coast Metro. Benefit from peaceful resort-style living walking distance to internationally know South Coast Plaza, the Performing Arts Center, theaters, shops & restaurants. This particular dwelling features two master suites, one on each level and both with walk in closets, a generous & open living room boasting cathedral ceiling & plenty of windows for natural light to create a dazzling ambiance, an attached oversized 2 car garage and a private patio. Upstairs is a noteworthy bonus room that is usable as a family room, media center or game room. Offering infinite possibilities, this home can utilize your personal touch to make it the home of your dreams. The home comes with a newer roof and newer dual pane windows. With its lavish landscape surrounding a deep blue 1.3 acre central lake, this stunning community is positioned in the midst of an urban area close to main freeways and about a 10 minute drive to the beach!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: Armstrong

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $186k742k

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

Neighborhood: Armstrong

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $16013345

* 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
Greenville Fundamental Elementary School Primary Regular 1,070 37 5
Mcfadden Intermediate School Middle Regular 1,374 55 3
Segerstrom High School High Regular 2,544 83 7

Greenville Fundamental Elementary School

  • Education Level: Primary
  • # of students: 1,070
  • # of teachers: 37
5
GreatSchools Rating

Mcfadden Intermediate School

  • Education Level: Middle
  • # of students: 1,374
  • # of teachers: 55
3
GreatSchools Rating

Segerstrom High School

  • Education Level: High
  • # of students: 2,544
  • # of teachers: 83
7
GreatSchools Rating
 

$639,000$781,000$710,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,466
Property Tax -$751
Property Insurance -$68
HOA -$380
Property Management Fees -$157
CASH FLOW
-$623

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$710,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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

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$193,900

INVESTMENT

$193,900

Down Payment
$177,500
Rehab Estimate
$5,750
Closing Costs
$10,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,466

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $177,500
Loan Amount $532,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,909

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $3,356

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,5004$3,6005$3,900
$3,900
RENT COMPS ANALYSIS
  • 1913 W Wakeham Place Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.87
    •  
  • 3444 Plumeria Place Costa Mesa, CA 1
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 1973
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.81
    •  
  • 3462 Windsor Court Costa Mesa, CA 3
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1979
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.05
    •  
  • 3130 S Rene Drive Santa Ana, CA 4
    • 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1971
    LEASED 02/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.02
    •  
  • 954 Carnation Avenue Costa Mesa, CA 5
    • 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973
    LEASED 02/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.97
    •  
PROPERTY LISTING DETAILS
Maurizio Bertoldi
First Team Estates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21136597
Last Updated: 06/28/2021
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