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1226 W Crone Avenue Anaheim, CA 92802

4 Beds 2 Baths 1,361 sqft Built 1955

$699,900

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $514.25
  • 4 Days on Market
  • MLS # : OC21150430
  • Updated Date : 07/10/2021 at 21:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,361 sqft
  • Baths : 2 full
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Lovely 4 Bedroom, 2 Bathroom, Single Story Home on a Large Lot with 2 Car Garage Located in the heart of Anahiem,Beautiful Neighborhood, Close to Disneyland. This home is Move in Ready with many Features your Family will Love . Upgraded Kitchen, large bedrooms, Wood shutters, nice big Backyard with Covered Patio.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: The Colony

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $199k742k

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

Neighborhood: The Colony

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14693345

* 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
Ball Junior High School Middle Regular 1,043 40 2
Loara High School High Regular 2,377 88 4
Ball Junior High School Middle Unknown NA

Ball Junior High School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 40
2
GreatSchools Rating

Loara High School

  • Education Level: High
  • # of students: 2,377
  • # of teachers: 88
4
GreatSchools Rating

Ball Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,431
Property Tax -$732
Property Insurance -$60
Property Management Fees -$145
CASH FLOW
-$418

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.

$699,900

PROJECTED PRICE

$2,950

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.2%
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$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$18,740

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $2.17

    LIST RENT PER SQFT
  • $2,933

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9503$2,9504$2,9905$3,000
$3,000
RENT COMPS ANALYSIS
  • 1226 W Crone Avenue Anaheim, CA 3
    • 4 beds 2 baths ∙ 1,361 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,361 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.17
    •  
  • 1604 W Palais Road Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1961
    property image
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.99
    •  
  • 508 S Fann Street Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1956
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.14
    •  
  • 840 S Bellevue Place Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1954
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $2.29
    •  
  • 1513 W Cerritos Avenue Anaheim, CA 5
    • 3 beds 3 baths ∙ 1,363 Sqft ∙ Built 1956 3 beds 3 baths ∙ 1,363 Sqft ∙ Built 1956
    property image
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.20
    •  
PROPERTY LISTING DETAILS
Sushma Varma
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21150430
Last Updated: 07/10/2021
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