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1048 N Hermosa Drive Anaheim, CA 92801

4 Beds 3 Baths 1,643 sqft Built 1954

INVESTimate

$689,000

List Price

$2,920

$2,670 - $3,170

Rent Est.

$739,435  ( +7.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $419.35
  • 6 Days on Market
  • MLS # : OC20171012
  • Updated Date : 08/25/2020 at 10:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,643 sqft
  • Baths : 3 full
Listing Agent

Team Spirit Realty

Listing Agent's Description

Beautifully Remodeled Home in a quiet neighborhood in a quiet neighborhood, featuring 4 Bed Rooms and 3 Baths, Enter the home with an open floor plan concept. Large living room with high beam ceiling, recessed lighting on the ceiling. Remodeled kitchen with white shaker cabinets, quartz coffee countertop. Oversize breakfast island for that perfect family gathering. Newer 5 gas burning stove, dishwasher, contemporary hood, and plenty of storage space. Upgraded Bathrooms. All the bedrooms have spacious closets. The master bedroom has a patio French door to gain access to the back yard, double sinks in the master bath and oversized shower stall with glass door with Italian tile and a walk-in closet. Engineered hardwood floor throughout the house. Tank-less water heater, Newer A C. Very clean interior and exterior, Two car garage with laundry hook up in the garage. Dual paned windows & sliding doors. Nearby Disneyland and Knotts Berry Farm with easy access to Fwy 5 & 91. This home is a must-see!!

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MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Euclid

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $192k742k

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

Neighborhood: North Euclid

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14943345

* 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
Price Elementary School Primary Regular 798 27 6
Price Elementary School Middle Regular 798 27 6
Anaheim High School High Regular 3,206 130 4

Price Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 27
6
GreatSchools Rating

Price Elementary School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 27
6
GreatSchools Rating

Anaheim High School

  • Education Level: High
  • # of students: 3,206
  • # of teachers: 130
4
GreatSchools Rating
 

$620,100$757,900$689,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,542
Property Tax -$721
Property Insurance -$67
Property Management Fees -$143
CASH FLOW
-$553

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.

$689,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.32%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,335

INVESTMENT

$188,335

Down Payment
$172,250
Rehab Estimate
$5,750
Closing Costs
$10,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,542

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,250
Loan Amount $516,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,040

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,5003$2,6004$2,9205$3,000
$3,000
RENT COMPS ANALYSIS
  • 1048 N Hermosa Drive Anaheim, 4
    • 4 beds 3 baths ∙ 1,643 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,643 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.78
    •  
  • 1100 W Oak Avenue Fullerton, 1
    • 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1956
    property image
    LEASED 02/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.72
    •  
  • 1621 S Pomona Avenue Fullerton, 2
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1963
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.74
    •  
  • 1424 W Baker Avenue Fullerton, 3
    • 4 beds 2 baths ∙ 1,384 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,384 Sqft ∙ Built 1955
    property image
    LEASED 02/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.88
    •  
  • 1274 W Claredge Drive Anaheim, 5
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1958
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.06
    •  
PROPERTY LISTING DETAILS
Evelyn Ross
Team Spirit Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20171012
Last Updated: 08/25/2020
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