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2429 N Heliotrope Drive Santa Ana, CA 92706

3 Beds 2 Baths 1,832 sqft Built 1930

$989,000

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1930
  • Price/Sqft : $539.85
  • 5 Days on Market
  • MLS # : PW20228406
  • Updated Date : 10/31/2020 at 14:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,832 sqft
  • Baths : 2 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Welcome to the Kelley house, a 1930 Tudor Revival listed on the Historic Registry with with Mills Act taxes. The asymmetrical facade has cross gables and rolled edge roofing. There are repeating elements of arches, vents and windows. Set back from a palm lined street with a gentle curve this charming home is what Floral Park buyers are looking for. Stepping up to the small porch the magic begins as you move inside. The small vestibule has a phone niche with a stained glass window. Dramatic vaulted ceiling, multiple windows and a Batchelder tile fireplace in the living room will delight your senses. Walking through another arch to the dining room you find more vaulted ceilings, French doors and vintage chandelier. Imagine holiday dinners in this romantic setting! The new custom kitchen is a chef's dream with quartz counters, stainless appliances and many custom storage solutions. A 6 burner Frigidaire stove, hood, wall oven, fridge, dishwasher and microwave. Off the kitchen is a nook and access to both the basement and backyard. The three bedrooms are good sized and private. A Jack & Jill bath features original pink & purple tile in great condition. The Master bedroom is in the back with a large walk-in closet and spacious adjacent bath. The private back yard has a brick patio, raised planter, lawn and Avocado tree. The detached garage has a large laundry/storage room. A gated driveway provides safe off street parking. Be a part of this amazing neighborhood at 2429 Heliotrope.

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: Northwest Santa Ana

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $205k773k

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

Neighborhood: Northwest Santa Ana

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943398

* 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
Santiago Elementary School Primary Regular 1,247 46 4
Santiago Elementary School Middle Regular 1,247 46 4
Santa Ana High School High Regular 2,741 110 3

Santiago Elementary School

  • Education Level: Primary
  • # of students: 1,247
  • # of teachers: 46
4
GreatSchools Rating

Santiago Elementary School

  • Education Level: Middle
  • # of students: 1,247
  • # of teachers: 46
4
GreatSchools Rating

Santa Ana High School

  • Education Level: High
  • # of students: 2,741
  • # of teachers: 110
3
GreatSchools Rating
 

$890,100$1,087,900$989,000

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$3,649
Property Tax -$1,022
Property Insurance -$71
Property Management Fees -$171
CASH FLOW
-$1,423

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.

$989,000

PROJECTED PRICE

$3,490

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$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$267,835

INVESTMENT

$267,835

Down Payment
$247,250
Rehab Estimate
$5,750
Closing Costs
$14,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,649

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $247,250
Loan Amount $741,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,490

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $3,769

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$3,050
1$3,0502$3,4903$3,4954$3,6005$3,900
$3,900
RENT COMPS ANALYSIS
  • 2429 N Heliotrope Drive Santa Ana, CA 2
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1930
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $1.91
    •  
  • 2379 N Flower Street Santa Ana, CA 1
    • 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1937
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.02
    •  
  • 2026 N Ross Street Santa Ana, CA 3
    • 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1929 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1929
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.93
    •  
  • 1816 N Ross Street Santa Ana, CA 4
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1923
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.12
    •  
  • 2316 N Flower Street Santa Ana, CA 5
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 1948
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.16
    •  
PROPERTY LISTING DETAILS
Phillip Schaefer
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20228406
Last Updated: 10/31/2020
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