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3011 Bradford Place #413 Santa Ana, CA 92707

3 Beds 2 Baths 1,062 sqft Built 1973

$417,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $392.66
  • 4 Days on Market
  • MLS # : PW20233034
  • Updated Date : 11/07/2020 at 20:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,062 sqft
  • Baths : 1 full , 1 half
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

This 3 Bedroom home with no one above or below, is located in South Coast Metro. Close to dinning and South Coast Mall. You are a short distance from major freeways 55, 405 and 73. The community is currently refacing the condos exterior, giving a beautiful fresh look. This home offers a spacious patio with newer fencing, that leads to the TWO car garage. The community offers a pool, spa and park. The park is located right out front of this home. UNIT C

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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: Sandpointe

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k742k

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

Neighborhood: Sandpointe

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
James Monroe Elementary School Primary Regular 490 19 3
Mcfadden Intermediate School Middle Regular 1,374 55 3
Saddleback High School High Regular 1,690 78 5

James Monroe Elementary School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 19
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
 

$375,300$458,700$417,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,539
Property Tax -$434
Property Insurance -$53
HOA -$282
Property Management Fees -$114
CASH FLOW
-$101

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.

$417,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,255

INVESTMENT

$116,255

Down Payment
$104,250
Rehab Estimate
$5,750
Closing Costs
$6,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,539

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,250
Loan Amount $312,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$25,801

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $2,419

    COMP ESTIMATED VALUE
  • $2.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3203$2,4504$2,5005$3,200
$3,200
RENT COMPS ANALYSIS
  • 3011 Bradford Place Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $2.18
    •  
  • 1001 W Stevens Avenue Santa Ana, CA 1
    • 3 beds 2 baths ∙ 981 Sqft ∙ Built 1972 3 beds 2 baths ∙ 981 Sqft ∙ Built 1972
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.24
    •  
  • 3070 Bradford Santa Ana, CA 3
    • 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 4
    • 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
    •  
  • 1921 Bay Crest Street Santa Ana, CA 5
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1973
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.32
    •  
PROPERTY LISTING DETAILS
Mkenzie Yamazaki
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20233034
Last Updated: 11/07/2020
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