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1105 Hobart Street Santa Ana, CA 92707

4 Beds 2 Baths 1,378 sqft Built 1957

$728,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $528.30
  • 4 Days on Market
  • MLS # : PW21039093
  • Updated Date : 02/25/2021 at 07:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,378 sqft
  • Baths : 2 full
Listing Agent

Realty One Group West

Listing Agent's Description

WELCOME HOME!! Nestled in the highly desirable Madison Park neighborhood, 1105 Hobart St is a charming 4-bedroom, 2-bathroom home that boasts an abundance of living space and natural light. Lofty, yet cozy and inviting, the main living area features vaulted ceiling and recessed lighting throughout. This property has been completely remodeled. New roof, new appliances, new bathrooms, no expense was spared, new paint inside and out, new light fixtures, new base boards, new quartz counter tops new kitchen with brand new cabinets, new floors, new HVAC too many upgrades to list . Huge driveway that fits up to 5 cars, this is it, this is the one. Very large front and back yard, brick fencing through out the perimeter of the property. Mature avocado, lemon and orange trees. Minutes from DTSA, Downtown Tustin, South Coast Plaza and The Market Place, walking distance to Madison Park and schools. Enjoy evenings reading by the fireplace or preparing a delicious meal in your newly renovated kitchen. All bedrooms have expansive ceilings and ledges, great for decorations or extra storage. The patio is the perfect place to enjoy a hot cup of tea or fresh fruit - right off the trees in your own backyard. Combine this with laundry hookups inside, 2-car garage, and extra parking - this property really does have it all!

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: Madison Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $185k742k

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

Neighborhood: Madison Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14373345

* 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
Julia C. Lathrop Intermediate School Middle Regular 1,018 48 1
Century High School High Regular 1,864 95 4
Julia C. Lathrop Intermediate School Middle Unknown NA

Julia C. Lathrop Intermediate School

  • Education Level: Middle
  • # of students: 1,018
  • # of teachers: 48
1
GreatSchools Rating

Century High School

  • Education Level: High
  • # of students: 1,864
  • # of teachers: 95
4
GreatSchools Rating

Julia C. Lathrop Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$655,200$800,800$728,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,529
Property Tax -$757
Property Insurance -$60
Property Management Fees -$148
CASH FLOW
-$474

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.

$728,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.3%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$198,670

INVESTMENT

$198,670

Down Payment
$182,000
Rehab Estimate
$5,750
Closing Costs
$10,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,529

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,000
Loan Amount $546,000
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$17,109

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $2.19

    LIST RENT PER SQFT
  • $3,001

    COMP ESTIMATED VALUE
  • $2.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7003$2,8404$3,0205$3,450
$3,450
RENT COMPS ANALYSIS
  • 1105 Hobart Street Santa Ana, CA 4
    • 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $2.19
    •  
  • 316 E Walnut Street Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1960
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.04
    •  
  • 720 W Saint Gertrude Place Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1948
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.10
    •  
  • 1117 Halladay Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1955
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $2.37
    •  
  • 15672 S Myrtle Avenue Tustin, CA 5
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1962
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.20
    •  
PROPERTY LISTING DETAILS
Cesar Miranda
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21039093
Last Updated: 02/25/2021
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