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3209 S Rene Drive Santa Ana, CA 92704

4 Beds 3 Baths 2,208 sqft Built 1969

$845,000

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $382.70
  • 3 Days on Market
  • MLS # : PW20236771
  • Updated Date : 11/21/2020 at 12:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,208 sqft
  • Baths : 3 full
Listing Agent

The Associates Realty Group

Listing Agent's Description

Stunning, completely renovated entertainers dream home! An abundance of light fills the beautiful formal living room and dining rm with open beam cathedral ceilings, fireplace and gorgeous, easy care, wood look tile floors which are carried throughout the downstairs living area. Remodeled kitchen w white shaker cabinets, sleek quartz counter tops, full subway tile back splash + new stainless steel appliances. Kitchen opens to a large family room with recessed lighting a 2nd fireplace + room for informal dining table and slider to gorgeous back yard. Good size bed and bath on first floor, perfect for in laws or a great office with double door entry and mirrored wardrobe doors. Upstairs is spacious master w cathedral ceilings, walk in closet w organizer and remodeled master bath with dual sinks. 2 additional nice size bedrooms + remodeled hall bath. All baths remodeled with new vanities, shower and bath surrounds, quartz counters, new mirrors, light fixtures, plugs and switches. All new interior paint + new carpet in bedrooms. Home has dual pane windows, 2 panel doors and newer heat and air. Beautiful back yard is sure to please w newer patio cover, brick pavers and your own putting green surrounded by stuccoed block walls. Highly sought after neighborhood, close to S. Coast Plaza, SNA airport, easy fwy access and Thornton Park. Virtual Tour: https://my.matterport.com/show/?m=6fCwEQ4zWGK&brand=0

SEE MORE

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: Republic Homes

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $205k841k

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

Neighborhood: Republic Homes

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $15943942

* 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
 

$760,500$929,500$845,000

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$3,118
Property Tax -$879
Property Insurance -$80
Property Management Fees -$173
CASH FLOW
-$710

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.

$845,000

PROJECTED PRICE

$3,540

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.2%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$229,675

INVESTMENT

$229,675

Down Payment
$211,250
Rehab Estimate
$5,750
Closing Costs
$12,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,118

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $211,250
Loan Amount $633,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$16,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $3,538

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,5003$3,5404$3,8955$4,000
$4,000
RENT COMPS ANALYSIS
  • 3209 S Rene Drive Santa Ana, CA 3
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $1.60
    •  
  • 410 W Columbine Avenue W Santa Ana, CA 1
    • 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 1971
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.44
    •  
  • 3109 S Rene Drive Santa Ana, CA 2
    • 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1965
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.63
    •  
  • 3830 Teakwood Santa Ana, CA 4
    • 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 1969
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $1.70
    •  
  • 1014 Begonia Avenue Costa Mesa, CA 5
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1984
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.64
    •  
PROPERTY LISTING DETAILS
Barbara Gustavsen
The Associates Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20236771
Last Updated: 11/21/2020
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