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1914 E Avalon Avenue Santa Ana, CA 92705

3 Beds 3 Baths 2,204 sqft Built 1965

$910,000

List Price

$3,310

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $412.89
  • 3 Days on Market
  • MLS # : PW20235913
  • Updated Date : 12/11/2020 at 16:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,204 sqft
  • Baths : 2 full , 1 half
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Located in the sought-after Meredith Terrace community, sits this charming tri-level pool home on an oversized lot. Welcomed by a well-manicured lawn, you enter through double doors into a light, bright and airy 3 bedroom and 2.5 bathroom home. The spacious living room features a large, picturesque window pulling in plenty of natural light and flows seamlessly into the dining room with an additional large window showcasing garden views. With a cozy breakfast nook, the immaculate kitchen is perfect for preparing meals with ample counterspace. Boasting with space, the family room is perfect for gatherings and features a cozy fireplace. Three bedrooms and a full-size bathroom upstairs, including the Master Retreat with an oversized walk-in closet and en suite, offers an ideal layout for comfortable living or work from home opportunities. The large, private, lush backyard features a gorgeous pool and spa which creates the perfect place to entertain family and friends. This wonderful home is situated on a quiet, tree-lined cul-de-sac and centrally located to the best Tustin Schools (Foothill High School) and freeways. Original owner meticulously maintained this beautiful home. This one is bound to go quickly so schedule a showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Meredith Parkwood

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k742k

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

Neighborhood: Meredith Parkwood

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
Loma Vista Elementary School Primary Regular 540 19 5
Hewes Middle School Middle Regular 958 32 8
Foothill High School High Regular 2,526 94 9

Loma Vista Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 19
5
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
 

$819,000$1,001,000$910,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$3,357
Property Tax -$974
Property Insurance -$80
Property Management Fees -$162
CASH FLOW
-$1,264

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.

$910,000

PROJECTED PRICE

$3,310

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 11.3%
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$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$246,900

INVESTMENT

$246,900

Down Payment
$227,500
Rehab Estimate
$5,750
Closing Costs
$13,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,357

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $227,500
Loan Amount $682,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,310

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $3,334

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,2003$3,2954$3,3005$3,310
$3,310
RENT COMPS ANALYSIS
  • 1914 E Avalon Avenue Santa Ana, CA 5
    • 3 beds 3 baths ∙ 2,204 Sqft ∙ Built 1965 3 beds 3 baths ∙ 2,204 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,310
    • $1.50
    •  
  • 2210 N Linwood Avenue Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1965
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.46
    •  
  • 1210 Joana Drive Santa Ana, CA 2
    • 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 1968
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.59
    •  
  • 2110 Millwood Street Santa Ana, CA 3
    • 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1966
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.48
    •  
  • 2025 Deodar Street Santa Ana, CA 4
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1963
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.52
    •  
PROPERTY LISTING DETAILS
Mollie Mitchiner-eubanks
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20235913
Last Updated: 12/11/2020
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