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

1006 N Magnolia Avenue Anaheim, CA 92801

3 Beds 2 Baths 1,164 sqft Built 1954

$639,900

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $549.74
  • 3 Days on Market
  • MLS # : CV20244378
  • Updated Date : 11/20/2020 at 18:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,164 sqft
  • Baths : 1 full , 1 half
Listing Agent

Synergy One Real Estate

Listing Agent's Description

Wonderfully Remodeled Single Story Anaheim Home for Sale! This home has been fully remodeled with brand new everything! Brand new Dual Pane Vinyl Tinted Low-E Windows, new AC/Heating Unit, new Roof, new Tankless Water Heater, new Water-proof Vinyl Plank Flooring throughout. Features 3 Bedrooms, 1 1/2 Bathrooms, 1,164 Sq. Ft, All New Light Fixtures or Ceiling Fans, an Abundance of Windows, Detached 2 Car-Garage w/ Alley Access perfect for future ADU Conversion. Beautiful brand new Open Kitchen with Floating Vent Hood, Quartz Counter-tops, Soft-Close Cabinets & Drawers with European Hinges, Spice Racks built in to Cabinets, & Pull-Out Trash Bins w/in Cabinets. Washer & Gas Dryer Hookups in Garage, Huge Flat Lot 6,349 Sq. Ft., Alley Access, RV/Boat Parking, Side yard nicely landscaped, Huge Backyard is entertainers dream and blank canvas for new homeowners to design and create to their own liking! Near all amenities including schools, shopping, entertainment, transportation, and easy access to 5 & 91 freeways. Make Offer now! This property will go quick!

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 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
Gauer Elementary School Primary Regular 748 25 3
Brookhurst Junior High School Middle Regular 1,193 45 3
Savanna High School High Regular 2,055 73 3

Gauer Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 25
3
GreatSchools Rating

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
 

$575,910$703,890$639,900

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$2,361
Property Tax -$661
Property Insurance -$55
Property Management Fees -$113
CASH FLOW
-$880

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.

$639,900

PROJECTED PRICE

$2,310

PROJECTED RENT

0.36%

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-$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$175,324

INVESTMENT

$175,324

Down Payment
$159,975
Rehab Estimate
$5,750
Closing Costs
$9,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $159,975
Loan Amount $479,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $2,316

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,310
1$2,3102$2,5003$2,6004$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 1006 N Magnolia Avenue Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,164 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,164 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.98
    •  
  • 1345 N Ferndale Street Anaheim, CA 2
    • 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
    •  
  • 8211 Hickory Drive Buena Park, CA 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1955
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
  • 2421 W Greenacre Avenue Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1955
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.02
    •  
  • 2500 W Chain Avenue Anaheim, CA 5
    • 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1969
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.03
    •  
PROPERTY LISTING DETAILS
Tony Nelson
Synergy One Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20244378
Last Updated: 11/20/2020
BESbswy