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1198 N Dresden Street #45 Anaheim, CA 92801

3 Beds 2 Baths 1,254 sqft Built 1978

$519,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $413.88
  • 4 Days on Market
  • MLS # : CV20233476
  • Updated Date : 11/05/2020 at 11:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,254 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Masters

Listing Agent's Description

This is a fantastic ONE STORY Townhouse in sought after Norwood Village with low HOA!!! This End Unit was completely remodeled 2 yrs ago! 2-Car garage, private grassy area right out front door as well as a large cement wrap around patio with pergola covered space. New Dual Pane windows with Custom blinds throughout! Spacious Living Room with Fireplace & Built-Ins! Recessed Lighting throughout! Open to large Dining room with Breakfast Bar! Beautiful Remodeled Kitchen with Stainless Appliances, Quartz Counters, Soft Close Drawers, Lots of counter & Cupboard Space! Attached Laundry Room with Storage, folding & hanging space! Designer Paint Colors & laminate flooring throughout living Dining, Kitchen & Hall! 2 large Sliders leading out to large private patio with storage shed! Large Master with large Double Mirrored Closets & Private Full Bathroom Beautifully remodeled top to bottom with designer paint, tile, flooring, vanity, fixtures & Custom Shower doors! Ample secondary bedrooms with mirrored closets! Full Main Bathroom has also been redone top to bottom equally as beautiful & custom! This well-kept complex features a huge pool/spa area with Bathrooms & covered lounging area. Close to All Anaheim has to offer! Walk to dining & shopping! Walk to Anaheim Regional Hospital! Close to Schools, Parks, Public transportation! 4 mi to Disneyland & Knott's Berry Farm! 2 mi to Anaheim Packing District! 6 mi to Angel Stadium! Conveniently located between the 5, 91, 57 & 22 fwys!

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: 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
Patrick Henry Elementary School Primary Regular 729 26 2
Patrick Henry Elementary School Middle Regular 729 26 2
Anaheim High School High Regular 3,206 130 4

Patrick Henry Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 26
2
GreatSchools Rating

Patrick Henry Elementary School

  • Education Level: Middle
  • # of students: 729
  • # of teachers: 26
2
GreatSchools Rating

Anaheim High School

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

$467,100$570,900$519,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,915
Property Tax -$543
Property Insurance -$57
HOA -$260
Property Management Fees -$123
CASH FLOW
-$388

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.

$519,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,285

INVESTMENT

$143,285

Down Payment
$129,750
Rehab Estimate
$5,750
Closing Costs
$7,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,750
Loan Amount $389,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $2,508

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$2,510
1$2,5102$2,6003$2,6504$2,7005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1198 N Dresden Street Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $2.00
    •  
  • 1954 W W Glenoaks Ave Anaheim, CA 2
    • 3 beds 3 baths ∙ 1,258 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,258 Sqft ∙ Built 1964
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.07
    •  
  • 2046 W Blue Violet Court Anaheim, CA 3
    • 3 beds 3 baths ∙ 1,363 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,363 Sqft ∙ Built 1998
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.94
    •  
  • 1525 W Tedmar Avenue Anaheim, CA 4
    • 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1977
    property image
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.93
    •  
  • 1274 W Claredge Drive Anaheim, CA 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
Jerry Garner
Realty One Group Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20233476
Last Updated: 11/05/2020
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