Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2312 E Avalon Avenue Santa Ana, CA 92705

5 Beds 3 Baths 2,563 sqft Built 1963

$987,500

List Price

$3,670

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $385.29
  • 7 Days on Market
  • MLS # : PW21036634
  • Updated Date : 02/24/2021 at 16:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,563 sqft
  • Baths : 3 full
Listing Agent

North Hills Realty

Listing Agent's Description

WELCOME HOME TO THIS LOVELY FIVE BEDROOM THREE BATH HOME WITH A FRONT PORCH TO RELAX AND ENJOY IN THE SPRING AND SUMMER, REMODELED KITCHEN WITH GRANITE COUNTERS, STAINLESS STEEL APPLIANCES, WOOD LOOK ALIKE TILE FLOORS, REMODELED BATHS,THERE IS A DOWN STAIRS OFFICE NOT PICTURED ( IT IS A WORKING OFFICE LOTS OF PAPERWORK AND DESKS ETC.) FILTERED WATER SYSTEM AND SOLAR THAT IS PAID FOR, GOOD SIZE LOT THAT INCLUDES SEVERAL FRUIT TREES, NAVEL ORANGE, WHITE NECTARINE, FUJI APPLE, KUMQUAT, BING CHERRY, SATSUMA MANDARIN ORANGE, MEYER LEMON, CARA CARA LEMON, RUBY RED GRAPEFRUIT, WITH ALL THIS WHO NEEDS THE GROCERY STORE!! LOT FEATURES TWO NICE SIZE SHEDS FOR THAT EXTRA STORAGE AND EVEN RV PARKING FOR YOUR EXTRA TOYS!! PROPERTY IS LOCATED IN THE AWARD WINNING FOOTHILL HIGH SCHOOL DISTRICT

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: Cabrillo Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $205k742k

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

Neighborhood: Cabrillo Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943345

* 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
 

$888,750$1,086,250$987,500

PURCHASE PRICE

$3,303$4,037$3,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,670
EXPENSES Loan Payment -$3,430
Property Tax -$1,057
Property Insurance -$89
Property Management Fees -$180
CASH FLOW
-$1,086

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.

$987,500

PROJECTED PRICE

$3,670

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.5%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$267,438

INVESTMENT

$267,438

Down Payment
$246,875
Rehab Estimate
$5,750
Closing Costs
$14,813

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,430

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $246,875
Loan Amount $740,625
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,670

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $3,742

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,6003$3,6704$3,7005$4,400
$4,400
RENT COMPS ANALYSIS
  • 2312 E Avalon Avenue Santa Ana, CA 3
    • 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,670
    • $1.43
    •  
  • 2213 Pasadena Street Santa Ana, CA 1
    • 5 beds 3 baths ∙ 2,617 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,617 Sqft ∙ Built 1963
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.34
    •  
  • 645 S Yorba St Orange, CA 2
    • 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 1962
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.47
    •  
  • 13501 Prospect Avenue Santa Ana, CA 4
    • 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1955 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1955
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.47
    •  
  • 2213 N Mantle Lane Santa Ana, CA 5
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1965
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $1.56
    •  
PROPERTY LISTING DETAILS
Sharon Dugan
North Hills Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21036634
Last Updated: 02/24/2021
BESbswy