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1111 Foothill Boulevard Santa Ana, CA 92705

3 Beds 3 Baths 1,937 sqft Built 1959

$899,000

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $464.12
  • 7 Days on Market
  • MLS # : IG20236311
  • Updated Date : 11/17/2020 at 11:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,937 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

LOCATION!! LOCATION!! LOCATION!! Welcome to this beautiful 3 bed 3 bath home in the heart of Santa Ana . This property has a beautiful kitchen and a spacious layout through out the whole house . As you walk in you are greeted by the living room as well as the beautiful kitchen that is also connected to the dinning area perfect for the whole family . All the rooms are spacious as well as the bathrooms . The backyard is incredibly large and open perfect for entreating or hosting backyard barbecues with family and friends . House is in great conditions. A MUST SEE!!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lemon Heights

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $205k1339k

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

Neighborhood: Lemon Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000250030003500400045005000Rent in $16015145

* 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
Arroyo Elementary School Primary Regular 622 20 9
Hewes Middle School Middle Regular 958 32 8
Foothill High School High Regular 2,526 94 9

Arroyo Elementary School

  • Education Level: Primary
  • # of students: 622
  • # of teachers: 20
9
GreatSchools Rating

Hewes Middle School

  • Education Level: Middle
  • # of students: 958
  • # of teachers: 32
8
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 94
9
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$3,317
Property Tax -$843
Property Insurance -$74
Property Management Fees -$159
CASH FLOW
-$1,152

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$899,000

PROJECTED PRICE

$3,240

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,082

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $3,259

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2403$3,3504$3,5005$3,650
$3,650
RENT COMPS ANALYSIS
  • 1111 Foothill Boulevard Santa Ana, CA 2
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1959 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $1.67
    •  
  • 13111 Hewes Avenue Santa Ana, CA 1
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1978
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.60
    •  
  • 1121 Castlegate Lane Santa Ana, CA 3
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1969
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.65
    •  
  • 13807 Hewes Avenue North Tustin, CA 4
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1961
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.68
    •  
  • 13031 Painted Pony Lane North Tustin, CA 5
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1973
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.80
    •  
PROPERTY LISTING DETAILS
Alejandro Carmona
Intero Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20236311
Last Updated: 11/17/2020
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