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2202 Santiago Street Santa Ana, CA 92706

3 Beds 2 Baths 1,284 sqft Built 1955

$729,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $567.76
  • 5 Days on Market
  • MLS # : PW21038080
  • Updated Date : 02/24/2021 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,284 sqft
  • Baths : 2 full
Listing Agent

Socal Realty Group

Listing Agent's Description

Welcome to a beautiful custom built home in Park Santiago with a large nearly 9,000 sqft lot! Vaulted ceilings with premium tongue and groove hardwood throughout. Beautiful hardwood floors. Large windows, natural light fills the whole home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Park Santiago

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k742k

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

Neighborhood: Park Santiago

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
Herbert Hoover Elementary School Primary Regular 437 17 4
Raymond A. Villa Fundamental Intermediate School Middle Regular 1,348 46 3
Santa Ana High School High Regular 2,741 110 3

Herbert Hoover Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 17
4
GreatSchools Rating

Raymond A. Villa Fundamental Intermediate School

  • Education Level: Middle
  • # of students: 1,348
  • # of teachers: 46
3
GreatSchools Rating

Santa Ana High School

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

$656,100$801,900$729,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,532
Property Tax -$753
Property Insurance -$58
Property Management Fees -$141
CASH FLOW
-$604

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.

$729,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 7.4%
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$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,532

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $2,411

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,8003$2,8804$2,9505$2,995
$2,995
RENT COMPS ANALYSIS
  • 2202 Santiago Street Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $2.24
    •  
  • 1910 W Palmyra Avenue Orange, CA 1
    • 3 beds 1 baths ∙ 1,359 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,359 Sqft ∙ Built 1973
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.98
    •  
  • 800 E Van Bibber Avenue Orange, CA 2
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1963
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.83
    •  
  • 809 Grovemont Street Santa Ana, CA 4
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1952
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.85
    •  
  • 2134 N Eastwood Avenue Santa Ana, CA 5
    • 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.85
    •  
PROPERTY LISTING DETAILS
Judy Evans
Socal Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21038080
Last Updated: 02/24/2021
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