Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2422 S Lowell Street Santa Ana, CA 92707

4 Beds 2 Baths 1,274 sqft Built 1955

$689,900

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $541.52
  • 2 Days on Market
  • MLS # : CV21028828
  • Updated Date : 02/13/2021 at 12:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,274 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Blackstone Rty

Listing Agent's Description

Be the one to call this your home. Centrally placed in a well established neighborhood you are greeted with beautiful tile flooring throughout, accented with stunning high beams. Ceiling fans have been placed throughout the home including each bedroom. For added space your allowed 2 sets of French Doors entering your Permitted Sun-room. Outside you can enjoy the covered patio and built in BBQ, as well as the Lemon, Avocado, Orange, Guava and Pomegranate Trees. Say Goodbye to outside laundry as this home has your washer and dryer hook-ups inside. This home has been well cared for and it shows.

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: Sunwood Central

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $192k742k

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

Neighborhood: Sunwood Central

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14573345

* 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
 

$620,910$758,890$689,900

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,396
Property Tax -$717
Property Insurance -$58
Property Management Fees -$143
CASH FLOW
-$395

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.

$689,900

PROJECTED PRICE

$2,920

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.6%
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$188,574

INVESTMENT

$188,574

Down Payment
$172,475
Rehab Estimate
$5,750
Closing Costs
$10,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,396

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,475
Loan Amount $517,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$19,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $2.29

    LIST RENT PER SQFT
  • $2,863

    COMP ESTIMATED VALUE
  • $2.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,7004$2,9205$3,200
$3,200
RENT COMPS ANALYSIS
  • 2422 S Lowell Street Santa Ana, CA 4
    • 4 beds 2 baths ∙ 1,274 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,274 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $2.29
    •  
  • 3070 Bradford Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1973
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.31
    •  
  • 1001 W Macarthur Boulevard Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.24
    •  
  • 720 W Saint Gertrude Place Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1948
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.10
    •  
  • 3518 Ramona Drive Santa Ana, CA 5
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1968
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.34
    •  
PROPERTY LISTING DETAILS
Christine Marrugi
Coldwell Banker Blackstone Rty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21028828
Last Updated: 02/13/2021
BESbswy