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2103 N Ross Street Santa Ana, CA 92706

3 Beds 2 Baths 1,744 sqft Built 1932

$875,000

List Price

$3,350

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1932
  • Price/Sqft : $501.72
  • 3 Days on Market
  • MLS # : PW20259842
  • Updated Date : 01/16/2021 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,744 sqft
  • Baths : 2 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Mills Act for Huge Tax Saving! In the heart of Floral Park, this Historic English Tudor, known as the “Rowell House,” is full of charm! Walk up the inviting, curved, paver stone walkway to the double door entry into the charming foyer. The large, formal living room features a barrel ceiling, hardwood wood floors, fireplace with beautiful wood surround and mantle, and a stunning large arched picture window. The kitchen features newer 6 burner Thor range, marble counter-top for making pastry, and black and white checkered flooring. The dining room, could be a family room, has pergo wood-style floors, cabinet with architecturally styled shelves built in and French doors to the covered, brick patio for dining al fresco on warm California evenings. Downstairs there is about 1418 square feet with 2 bedrooms and a full bath. Upstairs, you will find about 326 square feet including a bedroom with bath. The back bedroom opens to the spacious backyard complete with pool, new grass, and amazing fruit trees - apple, lime, 2 peach, kumquat, orange, mango, avocado, and a grape vine! The sparkling pool has been replumbed, retiled and plastered about 3 years ago and the pump and filter were replaced in 2020. The house features newer HVAC including ducting and insulation, copper plumbing, newer hot water heater, replaced gas and main water lines to the house, updated electrical panel to 200 amps, solar panels, bolted to foundation, and the Mills Act gives you tremendous tax saving!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northwest Santa Ana

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $205k773k

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

Neighborhood: Northwest Santa Ana

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943398

* 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
Santiago Elementary School Primary Regular 1,247 46 4
Santiago Elementary School Middle Regular 1,247 46 4
Santa Ana High School High Regular 2,741 110 3

Santiago Elementary School

  • Education Level: Primary
  • # of students: 1,247
  • # of teachers: 46
4
GreatSchools Rating

Santiago Elementary School

  • Education Level: Middle
  • # of students: 1,247
  • # of teachers: 46
4
GreatSchools Rating

Santa Ana High School

  • Education Level: High
  • # of students: 2,741
  • # of teachers: 110
3
GreatSchools Rating
 

$787,500$962,500$875,000

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$3,039
Property Tax -$904
Property Insurance -$69
Property Management Fees -$164
CASH FLOW
-$826

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.

$875,000

PROJECTED PRICE

$3,350

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.9%
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-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,755

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,350

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $3,414

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,3503$3,4954$3,5005$3,900
$3,900
RENT COMPS ANALYSIS
  • 2103 N Ross Street Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1932
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $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
    property image
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.85
    •  
  • 2026 N Ross Street Santa Ana, CA 3
    • 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1929 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1929
    property image
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.93
    •  
  • 1018 W 20th Street Santa Ana, CA 4
    • 3 beds 2 baths ∙ 1,853 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,853 Sqft ∙ Built 1952
    property image
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.89
    •  
  • 2316 N Flower Street Santa Ana, CA 5
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 1948
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.16
    •  
PROPERTY LISTING DETAILS
Sandra Deangelis
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20259842
Last Updated: 01/16/2021
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