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115 S Gilbert Street Anaheim, CA 92804

3 Beds 2 Baths 1,358 sqft Built 1956

$659,900

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $485.94
  • 3 Days on Market
  • MLS # : PW20230445
  • Updated Date : 11/01/2020 at 20:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 2 full
Listing Agent

Golden Land Homes, Inc.

Listing Agent's Description

Very bright, beautiful remodeled home for ready to move in

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
Juliette Low Elementary School Primary Regular 704 26 7
Juliette Low Elementary School Middle Regular 704 26 7
Savanna High School High Regular 2,055 73 3

Juliette Low Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 26
7
GreatSchools Rating

Juliette Low Elementary School

  • Education Level: Middle
  • # of students: 704
  • # of teachers: 26
7
GreatSchools Rating

Savanna High School

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

$593,910$725,890$659,900

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,435
Property Tax -$667
Property Insurance -$60
Property Management Fees -$134
CASH FLOW
-$556

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.

$659,900

PROJECTED PRICE

$2,740

PROJECTED RENT

0.42%

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$180,624

INVESTMENT

$180,624

Down Payment
$164,975
Rehab Estimate
$5,750
Closing Costs
$9,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,975
Loan Amount $494,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$12,648

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $2.02

    LIST RENT PER SQFT
  • $2,730

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7403$2,7504$2,9955$2,998
$2,998
RENT COMPS ANALYSIS
  • 115 S Gilbert Street Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $2.02
    •  
  • 2421 W Greenacre Avenue Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1955
    property image
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.02
    •  
  • 2500 W Chain Avenue Anaheim, CA 3
    • 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1969
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.03
    •  
  • 228 S Mall Way Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1955
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.99
    •  
  • 519 S Agate Street Anaheim, CA 5
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1960
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,998
    • $2.00
    •  
PROPERTY LISTING DETAILS
Oanh Nguyen
Golden Land Homes, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20230445
Last Updated: 11/01/2020
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