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624 N Daisy Avenue Santa Ana, CA 92703

4 Beds 2 Baths 1,466 sqft Built 2003

$649,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $442.70
  • 4 Days on Market
  • MLS # : PW21003912
  • Updated Date : 01/07/2021 at 19:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,466 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California

Listing Agent's Description

Honey stop the car. Recently rebuilt in 2003, this charming 4 bedroom and 2 bathroom home sits in on one of the most historic streets in all of Santa Ana. This beautiful remodeled home boast almost over 1,500 sq ft. All new stainless steel appliances, brand new kitchen, modern style restrooms you'll think you're in a five star hotel. A great sized backyard and front yard with a two car attached garage. Close to all freeways and just minutes away from South Coast Plaza and Disneyland. This home will sell fast so don't miss out.

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: Artesia Pilar

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $188k742k

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

Neighborhood: Artesia Pilar

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14583345

* 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
John C. Fremont Elementary School Primary Regular 695 25 3
Spurgeon Intermediate School Middle Regular 992 41 1
Valley High School High Regular 2,263 94 4

John C. Fremont Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 25
3
GreatSchools Rating

Spurgeon Intermediate School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 41
1
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
4
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,254
Property Tax -$670
Property Insurance -$63
Property Management Fees -$143
CASH FLOW
-$220

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.

$649,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$30,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $2,932

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9103$3,200
$3,200
RENT COMPS ANALYSIS
  • 624 N Daisy Avenue Santa Ana, CA 2
    • 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.98
    •  
  • 4018 W 5th Street Santa Ana, CA 1
    • 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1989
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
  • 932 W 18th Street Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1985
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.00
    •  
PROPERTY LISTING DETAILS
Aaron Amrine
Exp Realty Of California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21003912
Last Updated: 01/07/2021
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