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

2729 W Northwood #66 Santa Ana, CA 92704

3 Beds 2 Baths 1,130 sqft Built 1977

$450,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $398.23
  • 10 Days on Market
  • MLS # : OC20262627
  • Updated Date : 01/02/2021 at 11:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,130 sqft
  • Baths : 1 full , 1 half
Listing Agent

Pacific Platinumpropertiesinc

Listing Agent's Description

Welcome to 2729 W Northwood. This corner unit 3 Bedroom, 2 Bathroom condo has an attached 2 car garage and a nice grass area directly in front of the home. The community offers a pool with a play area. This property is conveniently located to nearby schools and in close proximity to South Coast shops and restaurants.

SEE MORE

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: Morning Sunwood

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k742k

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

Neighborhood: Morning Sunwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943345

* 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
Greenville Fundamental Elementary School Primary Regular 1,070 37 5
Mcfadden Intermediate School Middle Regular 1,374 55 3
Segerstrom High School High Regular 2,544 83 7

Greenville Fundamental Elementary School

  • Education Level: Primary
  • # of students: 1,070
  • # of teachers: 37
5
GreatSchools Rating

Mcfadden Intermediate School

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

Segerstrom High School

  • Education Level: High
  • # of students: 2,544
  • # of teachers: 83
7
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,660
Property Tax -$464
Property Insurance -$54
HOA -$340
Property Management Fees -$112
CASH FLOW
-$341

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.

$450,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,882

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $2.03

    LIST RENT PER SQFT
  • $2,317

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2903$2,4004$2,8005$2,995
$2,995
RENT COMPS ANALYSIS
  • 2729 W Northwood Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $2.03
    •  
  • 2501 W Sunflower Avenue Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1970
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.98
    •  
  • 2505 S Laurelwood Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1977
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.12
    •  
  • 2222 W Chandler Avenue Santa Ana, CA 4
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1974
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.03
    •  
  • 2961 S Fairview Street Santa Ana, CA 5
    • 4 beds 3 baths ∙ 1,450 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,450 Sqft ∙ Built 1974
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.07
    •  
PROPERTY LISTING DETAILS
Dave Castle
Pacific Platinumpropertiesinc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20262627
Last Updated: 01/02/2021
BESbswy