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330 Carriage Drive #D Santa Ana, CA 92707

3 Beds 2 Baths 1,026 sqft Built 1973

$479,900

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $467.74
  • 4 Days on Market
  • MLS # : NP21043655
  • Updated Date : 03/04/2021 at 06:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,026 sqft
  • Baths : 1 full , 1 half
Listing Agent

Villa Real Estate

Listing Agent's Description

Exceptionally located 3 bed, 2 bath condo on a greenbelt in the desirable Bradford Place community. This beautifully maintained home has had many upgrades done over the years: including dual pane windows with modern mini blinds, wood like Pergo laminate flooring throughout, 5' baseboards, crown molding, smooth ceiling with recessed lighting, newer dual flush toilets, newer cabinets and sinks in bathrooms, ceiling fan in master bedroom & newer water heater. Step outside and relax or entertain in your very private enclosed yard with nice hardscape & flower beds, with access to the 2 car garage with laundry hookups & automatic garage door. The association has a community pool, clubhouse, playground & greenbelts to enjoy. Conveniently located near restaurants, shops, the 405 & 55 freeways & just a short drive to South Coast Plaza & Segerstrom Center for the Arts. VA & FHA approved tract. A MUST SEE!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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
 

$431,910$527,890$479,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,667
Property Tax -$499
Property Insurance -$52
HOA -$282
Property Management Fees -$112
CASH FLOW
-$331

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.

$479,900

PROJECTED PRICE

$2,280

PROJECTED RENT

0.48%

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

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$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,472

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $2.22

    LIST RENT PER SQFT
  • $2,296

    COMP ESTIMATED VALUE
  • $2.24

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2803$2,3504$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 330 Carriage Drive Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $2.22
    •  
  • 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
    •  
  • 2521 W Sunflower Avenue Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1970
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.16
    •  
  • 3070 Bradford Santa Ana, CA 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Brian Gibney
Villa Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP21043655
Last Updated: 03/04/2021
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