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2142 W 11th Street Santa Ana, CA 92703

3 Beds 2 Baths 1,153 sqft Built 1954

$775,000

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $672.16
  • 3 Days on Market
  • MLS # : NP21014588
  • Updated Date : 01/22/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,153 sqft
  • Baths : 1 full , 1 half
Listing Agent

The L3

Listing Agent's Description

Charming 3 Bedroom Home with detached GUEST QUARTERS! Amazing opportunity to live in a residential neighborhood and enjoy the separate guest house for extended family or extra income. As you enter this home you will appreciate the pride of ownership! Main home has 3 Bedrooms, 1.5 Baths and is in move in condition! Upgrades include newer central air and heat, newer double paned windows, newer kitchen, newer counters, inside laundry room, newer maple cabinets, upgraded baths, refinished wood flooring, new water heater & solar can be assumed. Extra large driveway make this property private and unique. Enjoy the fruit and citrus trees as well as plumerias, roses, etc., it is a gardener's delight! GUEST QUARTERS provides an additional 510+ square feet. Detached Studio unit is in good condition and has vent for air and heat. Fireplace has been covered, however it can be opened to enjoy. Perfect for extra income or for extended family or friends! Both homes are well situated on a large low maintenance lot with a 2 car garage, private automatic gate & fencing throughout. DON'T MISS OUT, WON'T LAST!!

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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: 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
 

$697,500$852,500$775,000

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$2,692
Property Tax -$801
Property Insurance -$55
Property Management Fees -$136
CASH FLOW
-$913

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.

$775,000

PROJECTED PRICE

$2,770

PROJECTED RENT

0.36%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,692

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,026

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $2.4

    LIST RENT PER SQFT
  • $2,790

    COMP ESTIMATED VALUE
  • $2.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7703$2,8504$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2142 W 11th Street Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $2.40
    •  
  • 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
Elia Ceniceros
The L3
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP21014588
Last Updated: 01/22/2021
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