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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $672.16
- 3 Days on Market
- MLS # : NP21014588
- Updated Date : 01/22/2021 at 18:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,153 sqft
- Baths : 1 full , 1 half
Listing Agent
The L3
Listing Agent's Description
Charming 3 Bedroom Home with detached GUEST QUARTERS! Amazing opportunity to live in a residential neighborhood and enjoy the separate guest house for extended family or extra income. As you enter this home you will appreciate the pride of ownership! Main home has 3 Bedrooms, 1.5 Baths and is in move in condition! Upgrades include newer central air and heat, newer double paned windows, newer kitchen, newer counters, inside laundry room, newer maple cabinets, upgraded baths, refinished wood flooring, new water heater & solar can be assumed. Extra large driveway make this property private and unique. Enjoy the fruit and citrus trees as well as plumerias, roses, etc., it is a gardener's delight! GUEST QUARTERS provides an additional 510+ square feet. Detached Studio unit is in good condition and has vent for air and heat. Fireplace has been covered, however it can be opened to enjoy. Perfect for extra income or for extended family or friends! Both homes are well situated on a large low maintenance lot with a 2 car garage, private automatic gate & fencing throughout. DON'T MISS OUT, WON'T LAST!!
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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: Artesia Pilar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Artesia Pilar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,770 |
| EXPENSES | Loan Payment | -$2,692 |
| Property Tax | -$801 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$136 | |
|
CASH FLOW
-$913
|
||
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.
$775,000
PROJECTED PRICE
$2,770
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$211,125
LOAN DETAILS
$2,692
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $193,750 |
| Loan Amount | $581,250 |
0.67
YEARS SAVED
$2,026
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,770
LIST RENT -
$2.4
LIST RENT PER SQFT
-
$2,790
COMP ESTIMATED VALUE -
$2.42
COMP AVG. RENT PER SQFT
Comps Range
-
2142 W 11th Street Santa Ana, CA 2
- 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1954
- Rent
- Rent Per SQFT
- $2,770
- $2.40
-
1251 W Bishop Street Santa Ana, CA 1
- 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1950
LEASED 09/03/19- Rent
- Rent Per SQFT
- $2,500
- $2.37
-
2014 W 11th Street Santa Ana, CA 3
- 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 4
- 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
-
13422 Buena Way Garden Grove, CA 5
- 4 beds 2 baths ∙ 1,204 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,204 Sqft ∙ Built 1955
LEASED 03/02/20- Rent
- Rent Per SQFT
- $3,000
- $2.49
PROPERTY LISTING DETAILS
The L3
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: NP21014588
Last Updated: 01/22/2021
