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917 W Alton Avenue Santa Ana, CA 92707

4 Beds 2 Baths 1,414 sqft Built 1971

$729,900

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $516.20
  • 3 Days on Market
  • MLS # : OC20251790
  • Updated Date : 12/04/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,414 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Welcome to 917 W Alton Avenue - This South Coast Metro home is ideally located in a quiet cul-de-sac with a large lot, and boasts a lovely curb appeal. Upon entering, you’re greeted by the warmth of the framed brick fireplace centered in the living room, adjacent a large bay window. Freshly painted throughout, this 4 BD + 2 BA home features laminate wood grain flooring, crown moulding, stainless steel appliances, and beautiful French doors that lead out to the backyard. Some of the other recent upgrades include a newly installed roof, brand new ceiling fans in all 4 bedrooms and bonus room, water softener + tankless water heater, and the bathrooms have been upgraded with eco-efficient toilets and gorgeous tile flooring! The backyard is expansive and includes a pergola-covered patio, a new built-in BBQ with beautiful stone detailing, a shed for extra storage, and plenty of grass covered space—the possibilities are endless. Don't miss out on this rare opportunity to own a home minutes from South Coast Plaza and its wonderful shopping and dining options, easy access to major freeways, as well as major grocery stores and other retailers.

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: South Coast

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $122k742k

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

Neighborhood: South Coast

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
Taft Elementary School Primary Regular 641 30 2
Mcfadden Intermediate School Middle Regular 1,374 55 3
Saddleback High School High Regular 1,690 78 5

Taft Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 30
2
GreatSchools Rating

Mcfadden Intermediate School

  • Education Level: Middle
  • # of students: 1,374
  • # of teachers: 55
3
GreatSchools Rating

Saddleback High School

  • Education Level: High
  • # of students: 1,690
  • # of teachers: 78
5
GreatSchools Rating
 

$656,910$802,890$729,900

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,693
Property Tax -$759
Property Insurance -$61
Property Management Fees -$155
CASH FLOW
-$508

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.

$729,900

PROJECTED PRICE

$3,160

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 9.4%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$199,174

INVESTMENT

$199,174

Down Payment
$182,475
Rehab Estimate
$5,750
Closing Costs
$10,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,693

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,475
Loan Amount $547,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$21,010

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $2.23

    LIST RENT PER SQFT
  • $3,259

    COMP ESTIMATED VALUE
  • $2.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,8003$3,1604$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 917 W Alton Avenue Santa Ana, CA 3
    • 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $2.23
    •  
  • 1001 W Macarthur Boulevard Santa Ana, CA 1
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1970
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.24
    •  
  • 1225 W Alton Avenue Santa Ana, CA 2
    • 4 beds 2 baths ∙ 1,156 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,156 Sqft ∙ Built 1971
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.42
    •  
  • 3601 S Van Ness Avenue Santa Ana, CA 4
    • 3 beds 1 baths ∙ 1,426 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,426 Sqft ∙ Built 1969
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.24
    •  
  • 1921 W West Wind Santa Ana, CA 5
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1974
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.32
    •  
PROPERTY LISTING DETAILS
Marck Aben
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20251790
Last Updated: 12/04/2020
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