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4214 W Flight Avenue Santa Ana, CA 92704

4 Beds 2 Baths 1,351 sqft Built 1960

$749,532

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $554.80
  • 6 Days on Market
  • MLS # : OC20241521
  • Updated Date : 11/20/2020 at 14:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,351 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

This beautifully upgraded 4 bedroom, 2 bath single family home in west Santa Ana has been extensively and tastefully upgraded throughout. These upgrades include: recently installed central AC/Furnace & ducts, remodeled bathrooms, updated/upgraded doors, windows, roof, automatic garage door & opener, a recent paint job both inside and outside (with high quality, durable exterior paint), scrapped ceilings, recess lighting, bullnose corners, LED light fixtures both inside and outside, a large cover patio out back (great for entertaining), established landscaping & an expanded, large driveway. This house is also centrally located near shopping, Mile Square Park, Little Saigon, churches & much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: West Side

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $194k742k

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

Neighborhood: West Side

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14573345

* 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
Newhope Elementary School Primary Regular 469 18 5
Fitz Intermediate School Middle Regular 675 24 5
Los Amigos High School High Regular 1,787 74 5

Newhope Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 18
5
GreatSchools Rating

Fitz Intermediate School

  • Education Level: Middle
  • # of students: 675
  • # of teachers: 24
5
GreatSchools Rating

Los Amigos High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 74
5
GreatSchools Rating
 

$674,579$824,485$749,532

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 -$2,765
Property Tax -$773
Property Insurance -$60
Property Management Fees -$128
CASH FLOW
-$1,116

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.

$749,532

PROJECTED PRICE

$2,610

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.1%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,376

INVESTMENT

$204,376

Down Payment
$187,383
Rehab Estimate
$5,750
Closing Costs
$11,243

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,765

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,383
Loan Amount $562,149
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$310

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
  • $1.93

    LIST RENT PER SQFT
  • $2,685

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,610
1$2,6102$2,9003$3,0004$3,1005$3,300
$3,300
RENT COMPS ANALYSIS
  • 4214 W Flight Avenue Santa Ana, CA 1
    • 4 beds 2 baths ∙ 1,351 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,351 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.93
    •  
  • 11671 Rosemary Avenue Fountain Valley, CA 2
    • 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1964
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.96
    •  
  • 830 S Austin Street Santa Ana, CA 3
    • 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1956
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.01
    •  
  • 5428 W Wisteria Place Santa Ana, CA 4
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1963
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.95
    •  
  • 16309 San Jacinto Street Fountain Valley, CA 5
    • 4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1967
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.03
    •  
PROPERTY LISTING DETAILS
Esther Vazquez
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20241521
Last Updated: 11/20/2020
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