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702 E Buffalo Avenue Santa Ana, CA 92706

4 Beds 2 Baths 1,791 sqft Built 1951

$735,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $410.39
  • 3 Days on Market
  • MLS # : PW21004476
  • Updated Date : 01/08/2021 at 12:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,791 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Diamond

Listing Agent's Description

Spacious corner lot home on beautiful tree lined street. Interior location. This four bedroom 2 bath family home boasts dual pane windows throughout with plantation shutters. Original hardwood floors and ceiling fans. Fireplace in living room as well as small office off living room. Separate dining room, galley kitchen and separate laundry room. Master bedroom has a walk in closet; remodeled master bath with separate shower and bath. Detached two car garage and open, spacious backyard. Enjoy this original floorplan or bring your creativity for expansion! Walking distance to elementary school, close to shopping, restaurants and freeways.

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: Park Santiago

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k742k

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

Neighborhood: Park Santiago

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $16013345

* 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
Herbert Hoover Elementary School Primary Regular 437 17 4
Raymond A. Villa Fundamental Intermediate School Middle Regular 1,348 46 3
Santa Ana High School High Regular 2,741 110 3

Herbert Hoover Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 17
4
GreatSchools Rating

Raymond A. Villa Fundamental Intermediate School

  • Education Level: Middle
  • # of students: 1,348
  • # of teachers: 46
3
GreatSchools Rating

Santa Ana High School

  • Education Level: High
  • # of students: 2,741
  • # of teachers: 110
3
GreatSchools Rating
 

$661,500$808,500$735,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,553
Property Tax -$759
Property Insurance -$70
Property Management Fees -$159
CASH FLOW
-$292

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$735,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$200,525

INVESTMENT

$200,525

Down Payment
$183,750
Rehab Estimate
$5,750
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,553

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$26,263

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $3,403

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$2,9953$3,2504$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 702 E Buffalo Avenue Santa Ana, CA 3
    • 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.81
    •  
  • 809 Grovemont Street Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1952
    property image
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.85
    •  
  • 2134 N Eastwood Avenue Santa Ana, CA 2
    • 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965
    property image
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.85
    •  
  • 2218 N Linwood Avenue Santa Ana, CA 4
    • 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 1967
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.01
    •  
  • 1018 W 20th Street Santa Ana, CA 5
    • 3 beds 2 baths ∙ 1,853 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,853 Sqft ∙ Built 1952
    property image
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.89
    •  
PROPERTY LISTING DETAILS
Gus Quinonez
Realty One Group Diamond
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21004476
Last Updated: 01/08/2021
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