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1005 N Modena Place Anaheim, CA 92801

5 Beds 3 Baths 1,650 sqft Built 1955

$669,999

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $406.06
  • 5 Days on Market
  • MLS # : PW21028582
  • Updated Date : 02/11/2021 at 15:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,650 sqft
  • Baths : 3 full
Listing Agent

Your Home Sold Guaranteed Realty

Listing Agent's Description

YOU DONT WANT TO MISS THIS GREAT OPPORTUNITY to own this extensive upgraded home. .Step inside and you will be welcomed with a large open living room with brand new water proof flooring, the MASTER BEDROOM comes with additional space to make it into either an office, entertainment room or for newborn babies, just use your imagination! The kitchen was fully remodeled with new countertop, cabinets and full set of brand new Samsung appliances including washer and dryer. This home has been substantially repiped and electrical power was upgraded with a new electrical panel box and 230v power outlet for washer and dryer. There is one bed 1 bath with a separate back entrance which makes it perfect for additional rental income.

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: West Anaheim

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: West Anaheim

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15413345

* 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
Brookhurst Junior High School Middle Regular 1,193 45 3
Savanna High School High Regular 2,055 73 3
Brookhurst Junior High School Middle Unknown NA

Brookhurst Junior High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 45
3
GreatSchools Rating

Savanna High School

  • Education Level: High
  • # of students: 2,055
  • # of teachers: 73
3
GreatSchools Rating

Brookhurst Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$602,999$736,999$669,999

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,327
Property Tax -$692
Property Insurance -$58
Property Management Fees -$140
CASH FLOW
-$357

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.

$669,999

PROJECTED PRICE

$2,860

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,500
Loan Amount $502,499
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$20,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $2,533

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,8503$2,8604$2,9955$3,000
$3,000
RENT COMPS ANALYSIS
  • 1005 N Modena Place Anaheim, CA 3
    • 5 beds 3 baths ∙ 1,276 Sqft ∙ Built 1955 5 beds 3 baths ∙ 1,276 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $2.24
    •  
  • 1345 N Ferndale Street Anaheim, CA 1
    • 4 beds 2 baths ∙ 1,307 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,307 Sqft ∙ Built 1954
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.91
    •  
  • 1639 W Walnut Avenue Fullerton, CA 2
    • 4 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.94
    •  
  • 1461 W Ash Avenue Fullerton, CA 4
    • 4 beds 2 baths ∙ 1,485 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,485 Sqft ∙ Built 1955
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.02
    •  
  • 926 N Cavon Place Anaheim, CA 5
    • 4 beds 2 baths ∙ 1,447 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,447 Sqft ∙ Built 1956
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.07
    •  
PROPERTY LISTING DETAILS
Freeman Wang
Your Home Sold Guaranteed Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21028582
Last Updated: 02/11/2021
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