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10242 Gilbert Street Anaheim, CA 92804

3 Beds 1 Baths 995 sqft Built 1955

$630,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $633.17
  • 3 Days on Market
  • MLS # : OC21017488
  • Updated Date : 01/29/2021 at 13:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 995 sqft
  • Baths : 1 full
Listing Agent

Redfin

Listing Agent's Description

Here's the perfect place to call home! Start your single family dream here! This darling home has been remodeled and is ready to move in! The open floor plan is complimented with wood laminate flooring, trendy accented color schema, newer kitchen and bathroom! The kitchen has crisp, white Shaker style cabinetry to the ceiling, countertops of modern Quartz, stainless appliances and opens to the living area and overlooks the park-like backyard! Living space is enhanced through the sliding door to the large covered outdoor patio. All three bedrooms are generously sized and share the remodeled, full bath with a tub/shower combination. Upgrades include plentiful recessed lighting in the kitchen and living room, newer electrical panel, and the roof is approximately 5 yrs old. The backyard is like your own park where you can enjoy gardening and play! In addition there is new fencing and a dog run. Spend long, lazy days relaxing under the large, backyard shade tree. The garage is situated at the end of the driveway with enough room to park multiple cars. Laundry hookups are also in the garage. Enjoy nearby Downtown Disney, Anaheim and Garden Walk for all your shopping and entertainment. Centrally located with access to the 5, 91, and 22 freeways. Don't wait! This will go fast!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Dale Junior High School Middle Regular 1,180 48 3
Magnolia High School High Regular 1,813 73 3

Dale Junior High School

  • Education Level: Middle
  • # of students: 1,180
  • # of teachers: 48
3
GreatSchools Rating

Magnolia High School

  • Education Level: High
  • # of students: 1,813
  • # of teachers: 73
3
GreatSchools Rating
 

$567,000$693,000$630,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$2,188
Property Tax -$664
Property Insurance -$51
Property Management Fees -$109
CASH FLOW
-$792

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.

$630,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.35%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,188

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,500
Loan Amount $472,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $2.23

    LIST RENT PER SQFT
  • $1,910

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,3003$2,5004$2,5005$2,650
$2,650
RENT COMPS ANALYSIS
  • 10242 Gilbert Street Anaheim, CA 1
    • 3 beds 1 baths ∙ 995 Sqft ∙ Built 1955 3 beds 1 baths ∙ 995 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $2.23
    •  
  • 1250 S Brookhurst Street Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1971
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.96
    •  
  • 2803 W Devoy Drive Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1955
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.86
    •  
  • 419 S Gain Street Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1956
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.87
    •  
  • 1743 S Dallas Drive Anaheim, CA 5
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1955
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.99
    •  
PROPERTY LISTING DETAILS
April Armendariz
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21017488
Last Updated: 01/29/2021
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