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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $413.33
- 9 Days on Market
- MLS # : PW20234973
- Updated Date : 11/11/2020 at 17:20
CONSTRUCTION
- Beds : 3
- Floor Size : 1,621 sqft
- Baths : 2 full
Listing Agent
First Team Real Estate
Listing Agent's Description
This newly remodeled single story home is located in the coveted community of "Anaheim Shores" - a community which boasts it's own private 8-acre lake with walking paths, 3 pools and gorgeous green space with mature landscaping. Fresh neutral paint compliments the bright & open floor plan. The home features wood laminate flooring throughout, recessed lighting and remodeled kitchen. The kitchen boasts plenty of white cabinet space with quartz counter tops with in-kitchen dining. The open concept living area has plenty of room for entertainment, featuring a fireplace for those cooler evenings. Sliders lead out to the side yard and back yard. The master bedroom en-suite is quite spacious with two closets and sliders opening up to the back yard as well. Secondary bedrooms share a Jack and Jill bathroom with separate vanity/sink areas. The backyard is low maintenance and has fruit trees and an avocado tree. An attached two car garage, driveway and proximity to "open" parking allows for plenty of parking. Low HOA does cover water. Ideal location for shopping, dining and freeway access makes this the home you don't want to miss!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Anaheim
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,000 |
| EXPENSES | Loan Payment | -$2,472 |
| Property Tax | -$689 | |
| Property Insurance | -$66 | |
| HOA | -$222 | |
| Property Management Fees | -$147 | |
|
CASH FLOW
-$597
|
||
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.
$670,000
PROJECTED PRICE
$3,000
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$183,300
LOAN DETAILS
$2,472
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $167,500 |
| Loan Amount | $502,500 |
2
YEARS SAVED
$10,027
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,000
LIST RENT -
$1.85
LIST RENT PER SQFT
-
$3,031
COMP ESTIMATED VALUE -
$1.87
COMP AVG. RENT PER SQFT
Comps Range
-
1166 N Voyager Lane Anaheim, CA 2
- 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1977
- Rent
- Rent Per SQFT
- $3,000
- $1.85
-
1976 W Bayshore Drive Anaheim, CA 1
- 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1977
LEASED 02/09/20- Rent
- Rent Per SQFT
- $2,900
- $1.79
-
1129 N Outrigger Way Anaheim, CA 3
- 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1981
LEASED 11/02/20- Rent
- Rent Per SQFT
- $3,200
- $1.93
-
1174 N Voyager Lane Anaheim, CA 4
- 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1977
LEASED 04/24/20- Rent
- Rent Per SQFT
- $3,400
- $1.86
-
1324 W Valencia Mesa Drive Fullerton, CA 5
- 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1963
LEASED 07/06/19- Rent
- Rent Per SQFT
- $3,600
- $1.90
PROPERTY LISTING DETAILS
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20234973
Last Updated: 11/11/2020
