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2231 S Parton Street Santa Ana, CA 92707

4 Beds 2 Baths 1,661 sqft Built 1953

$725,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $436.48
  • 2 Days on Market
  • MLS # : PW20247869
  • Updated Date : 11/28/2020 at 19:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,661 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Move in Ready, recently upgraded & Expanded 4 bedroom home. This Charming Bungalow has Fabulous Curb Appeal w/ Palm Trees & Small Front Porch. Front Yard has Black Iron Fence with Gated Driveway. Freshly Painted Interior. New Tile in Bedrooms. Newer Central A/C for the hot summer days. Dual Pane Windows, 1-Car Garage w/Steel Roll Up Door, Laundry Area & Sink. Extra Long Driveway will Accommodate an RV or Boat. Large Living Room w/New Tile Floors. Remodeled & Upgraded Kitchen Includes Clean Cabinets, Granite Countertops, New Tile Floors, Stainless Steel Gas Stove/Range, Dishwasher, Microwave & Stainless Double Deep Kitchen Sink. Separate Eating Area off Kitchen. There is large bonus room which can be used for a Family Room or Play Room for the Kids. This home features 4 Bedrooms and 2 Full Bathrooms and both bathrooms. Backyard has a Covered Patio that Extends from the Home to the Garage. Also a Grassy Area in Backyard, a storage shed for your bikes or landscaping tools.. House is Situated on a Tree Lined Street in a Nice Family Neighborhood. All the Work has been done for You and the Home is Ready to Move Right Into.

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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: Bristol Manor

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $179k742k

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

Neighborhood: Bristol Manor

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14043345

* 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
George Washington Elementary School Primary Regular 908 38 3
Mcfadden Intermediate School Middle Regular 1,374 55 3
Saddleback High School High Regular 1,690 78 5

George Washington Elementary School

  • Education Level: Primary
  • # of students: 908
  • # of teachers: 38
3
GreatSchools Rating

Mcfadden Intermediate School

  • Education Level: Middle
  • # of students: 1,374
  • # of teachers: 55
3
GreatSchools Rating

Saddleback High School

  • Education Level: High
  • # of students: 1,690
  • # of teachers: 78
5
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,675
Property Tax -$749
Property Insurance -$67
Property Management Fees -$152
CASH FLOW
-$543

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.

$725,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$17,927

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $3,377

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1003$3,2004$3,795
$3,795
RENT COMPS ANALYSIS
  • 2231 S Parton Street Santa Ana, CA 2
    • 4 beds 2 baths ∙ 1,661 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,661 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.87
    •  
  • 502 W Bell Avenue Santa Ana, CA 1
    • 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
    •  
  • 3601 S Van Ness Avenue Santa Ana, CA 3
    • 3 beds 1 baths ∙ 1,426 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,426 Sqft ∙ Built 1969
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.24
    •  
  • 3705 S Ross Street Santa Ana, CA 4
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1969
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.11
    •  
PROPERTY LISTING DETAILS
Ricardo Franco
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20247869
Last Updated: 11/28/2020
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