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2139 Santa Ana Avenue Costa Mesa, CA 92627

4 Beds 3 Baths 1,743 sqft Built 1962

$1,299,000

List Price

$4,130

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $745.27
  • 3 Days on Market
  • MLS # : OC21019747
  • Updated Date : 01/29/2021 at 19:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,743 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Highly updated single level 4bd Family Home with open floorplan shows light and bright with lots of charm at every corner. Does your wish list include a must-have Dutch door entry? This home features charm, designer updates, and functionality with newer engineered wood floors, all new windows and sliding glass doors, the open kitchen with breakfast bar features a new oven, new dishwasher, and microwave. Separate dining area and living room combination with an abundance of light featuring a custom wood mantel and stone fireplace with built-in shelves/entertainment center, sliding glass doors to concrete patio perfect combination of indoor-outdoor living. The luxurious master suite overlooks the backyard with sliding glass doors, designer pendant light, a newly remodeled spa-like bath, with dual vanities and Carrara marble countertops and walk-in shower, a separate walk-in closet, and more. The guest bath is remodeled with Carrara marble hexagon tiles, a Kohler "Brockway" trout/basin style sink, giving you the best of today's most sought after stylish updates. Need a home office or homeschool? use one of the three bedrooms, this is a home you can grow into. Extensive remodel in 2017 included a new roof, new ductwork with a new AC Unit, upgraded 200 amp panel, new water heater, and more. A must-see will sell this weekend, don't miss this opportunity.

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MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Eastside Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $272k1225k

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

Neighborhood: Eastside Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813867

* 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
Woodland Elementary School Primary Regular 517 22 NA
Ensign Intermediate School Middle Regular 1,173 42 8
Newport Harbor High School High Regular 2,355 82 8

Woodland Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 22
NA
GreatSchools Rating

Ensign Intermediate School

  • Education Level: Middle
  • # of students: 1,173
  • # of teachers: 42
8
GreatSchools Rating

Newport Harbor High School

  • Education Level: High
  • # of students: 2,355
  • # of teachers: 82
8
GreatSchools Rating
 

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$3,717$4,543$4,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,130
EXPENSES Loan Payment -$4,512
Property Tax -$1,269
Property Insurance -$69
Property Management Fees -$202
CASH FLOW
-$1,922

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,299,000

PROJECTED PRICE

$4,130

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,512

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,130

    LIST RENT
  • $2.37

    LIST RENT PER SQFT
  • $4,087

    COMP ESTIMATED VALUE
  • $2.34

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,8003$3,8004$4,1305$4,995
$4,995
RENT COMPS ANALYSIS
  • 2139 Santa Ana Avenue Costa Mesa, CA 4
    • 4 beds 3 baths ∙ 1,743 Sqft ∙ Built 1962 4 beds 3 baths ∙ 1,743 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $4,130
    • $2.37
    •  
  • 207 Albert Place Costa Mesa, CA 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1962
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.23
    •  
  • 2475 Napoli Way Costa Mesa, CA 2
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1964
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.41
    •  
  • 351 Walnut Costa Mesa, CA 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.11
    •  
  • 390 Esther Street Costa Mesa, CA 5
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1961
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $2.63
    •  
PROPERTY LISTING DETAILS
Renee Pina
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21019747
Last Updated: 01/29/2021
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