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2137 W 11th Street Santa Ana, CA 92703

3 Beds 2 Baths 1,202 sqft Built 1954

$679,900

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $565.64
  • 6 Days on Market
  • MLS # : PW21035343
  • Updated Date : 02/23/2021 at 16:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,202 sqft
  • Baths : 1 full , 1 half
Listing Agent

Sundae Homes

Listing Agent's Description

Stunning 3 bedrooms, 1.5 bathroom home in Santa Ana and move-in ready! This humble abode has tons of new upgrades and features. Sitting on a massive front lawn and a very desirable corner lot, this gem won't last long! This home offers a very spacious and naturally lit living room, complete with bay windows and chich new flooring. The kitchen has been completely re-done with classic shaker cabinets, a honeycomb backsplash, new countertops, SS appliances and flows right into the dining room. The bathrooms have both been upgraded - the full bath has a modish new vanity, sleek flooring, shower surrounds, and more. The bedrooms are spacious and provide ample closet space. The backyard is also quite large - the perfect yard for BBQs, outdoor dining, gardening, and more! This gem is complete with a private laundry room, detached garage, and all the bells and whistles. Located near Riverview Park, Willowick Golf course, eateries, Santa Ana College, and more - Come see it today!

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: Artesia Pilar

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $188k742k

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

Neighborhood: Artesia Pilar

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14583345

* 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
John C. Fremont Elementary School Primary Regular 695 25 3
Spurgeon Intermediate School Middle Regular 992 41 1
Valley High School High Regular 2,263 94 4

John C. Fremont Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 25
3
GreatSchools Rating

Spurgeon Intermediate School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 41
1
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
4
GreatSchools Rating
 

$611,910$747,890$679,900

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,362
Property Tax -$702
Property Insurance -$56
Property Management Fees -$128
CASH FLOW
-$638

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.

$679,900

PROJECTED PRICE

$2,610

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,924

INVESTMENT

$185,924

Down Payment
$169,975
Rehab Estimate
$5,750
Closing Costs
$10,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,362

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,975
Loan Amount $509,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $2.17

    LIST RENT PER SQFT
  • $2,909

    COMP ESTIMATED VALUE
  • $2.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6103$2,8504$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2137 W 11th Street Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $2.17
    •  
  • 1251 W Bishop Street Santa Ana, CA 1
    • 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1950
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.37
    •  
  • 2014 W 11th Street Santa Ana, CA 3
    • 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1954
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.47
    •  
  • 2213 Spinnaker Street Santa Ana, CA 4
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1961
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.35
    •  
  • 13422 Buena Way Garden Grove, CA 5
    • 4 beds 2 baths ∙ 1,204 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,204 Sqft ∙ Built 1955
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.49
    •  
PROPERTY LISTING DETAILS
Ben Ryan
Sundae Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21035343
Last Updated: 02/23/2021
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