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913 Tanana Place Costa Mesa, CA 92626

3 Beds 2 Baths 1,463 sqft Built 1967

$799,900

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $546.75
  • 3 Days on Market
  • MLS # : OC21024985
  • Updated Date : 02/05/2021 at 17:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,463 sqft
  • Baths : 2 full
Listing Agent

Nationwide Real Estate Execs

Listing Agent's Description

Don’t miss this rare opportunity to own a home in the highly desired neighborhood of Rancho Mesa in the South Coast Metro area of Costa Mesa. This three bed, two bath home is perfectly located at the end of a quiet cul-de-sac, just a few steps from Schiffer park, South Coast Plaza and easy freeway access. The home features open floor plan, wood floors throughout, a master bedroom with private en suite, central air and more. The backyard is private and spacious, perfect for entertaining. ***Professional photography coming soon***

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: SoBECA

NeighborhoodNIR Market*CityMarket2010Year20002019400k600k800k1000k1200k1400k1600k1800k2000k2200kPrice in $243k2377k

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

Neighborhood: SoBECA

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800300032003400Rent in $10763537

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$719,910$879,890$799,900

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$2,778
Property Tax -$771
Property Insurance -$62
Property Management Fees -$158
CASH FLOW
-$540

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.

$799,900

PROJECTED PRICE

$3,230

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 7.5%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$217,724

INVESTMENT

$217,724

Down Payment
$199,975
Rehab Estimate
$5,750
Closing Costs
$11,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,975
Loan Amount $599,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,230

    LIST RENT
  • $2.21

    LIST RENT PER SQFT
  • $3,244

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2303$3,2504$3,3005$3,400
$3,400
RENT COMPS ANALYSIS
  • 913 Tanana Place Costa Mesa, CA 2
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,230
    • $2.21
    •  
  • 1901 W Wakeham Place Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1974
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.25
    •  
  • 1158 Austin Street Costa Mesa, CA 3
    • 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1962
    property image
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.31
    •  
  • 3132 Coolidge Avenue Costa Mesa, CA 4
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1963
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.05
    •  
  • 625 Skyview Lane Costa Mesa, CA 5
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1974
    property image
    LEASED 12/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.26
    •  
PROPERTY LISTING DETAILS
Juan Moreno
Nationwide Real Estate Execs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21024985
Last Updated: 02/05/2021
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