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2047 S Rene Drive Santa Ana, CA 92704

4 Beds 2 Baths 1,718 sqft Built 1955

$850,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $494.76
  • 3 Days on Market
  • MLS # : WS20258627
  • Updated Date : 12/25/2020 at 09:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,718 sqft
  • Baths : 2 full
Listing Agent

Re/max Vertex

Listing Agent's Description

Move in READY!! Gorgeously remodeled and beautifully upgraded 4 bedrooms 2 baths home. Walk into this awesome home and await you is high cathedral ceilings throughout all the bedrooms, kitchen, living room, and family room! This home has it all! Freshly Painted Interior and Exterior. Lots of natural lights radiate into this home. NEW recessed LED lights and NEW vinyl plank flooring is featured throughout the home. All bedrooms come with NEW modern-looking ceiling fans and dimmers. Open concept kitchen comes with huge moveable kitchen island that overlooks the bright and spacious living room. Wow, wait until you see the super large family room! Great place for settling down after a long day of work! Convenient separate laundry room inside with washer/gas dryer hookups. NEW mirrored sliding door closets are included in the bedrooms. Upgraded guest bathroom comes with NEW smart mirror. Plenty of parking in the large driveway with motorized gated. Spacious front yard comes with dusk to dawn pillar lights. Good size backyard is great for relaxing which comes with an oversize cover patio which is great for BBQ/entertaining guests. House is situated in a nice neighborhood and convenient location with easy access to everything.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Bristol Warner

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $188k742k

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

Neighborhood: Bristol Warner

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14593345

* 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
Jose A. Sepulveda Elementary School Primary Regular 462 20 2
Gerald P. Carr Intermediate School Middle Regular 1,557 63 1
Valley High School High Regular 2,263 94 4

Jose A. Sepulveda Elementary School

  • Education Level: Primary
  • # of students: 462
  • # of teachers: 20
2
GreatSchools Rating

Gerald P. Carr Intermediate School

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

Valley High School

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

$765,000$935,000$850,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$3,136
Property Tax -$884
Property Insurance -$69
Property Management Fees -$156
CASH FLOW
-$1,064

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.

$850,000

PROJECTED PRICE

$3,180

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.2%
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-$20k-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,817

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $3,135

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$3,0003$3,1804$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 2047 S Rene Drive Santa Ana, CA 3
    • 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $1.85
    •  
  • 938 S Figueroa Street Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1963
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.76
    •  
  • 502 W Bell Avenue Santa Ana, CA 2
    • 3 beds 1 baths ∙ 1,715 Sqft ∙ Built 1970 3 beds 1 baths ∙ 1,715 Sqft ∙ Built 1970
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.75
    •  
  • 3444 Plumeria Place Costa Mesa, CA 4
    • 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
    •  
  • 2001 W Adams Street Santa Ana, CA 5
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1967
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.98
    •  
PROPERTY LISTING DETAILS
Edward Chen
Re/max Vertex
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20258627
Last Updated: 12/25/2020
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