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1231 E Balsam Avenue Anaheim, CA 92805

3 Beds 2 Baths 1,242 sqft Built 1958

$690,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $555.56
  • 5 Days on Market
  • MLS # : PW21044433
  • Updated Date : 03/05/2021 at 09:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,242 sqft
  • Baths : 2 full
Listing Agent

Own It Group

Listing Agent's Description

Welcome home to this completely renovated house in the city of Anaheim. This gorgeous property offers 3 bedroom, 2 bathrooms with plenty of space for your family. As you're walking into the property, you are met with a hallway that leads you to the ceiling-high fireplace in the spacious living room. In the renovated Kitchen, you will be welcomed by granite counter tops, a newly installed dishwasher, a double oven which is perfect for family dinners! In addition, the bathroom has been completely upgraded with a walk in shower and new copper pipes. There are no shortcuts with this property! The property has been freshly painted from the outsides, a new roof has been installed, new AC unit, new heater, ducts, etc. Furthermore, the backyard is perfect for family gatherings as you relax under the patio! Don't miss your chance to move into this turnkey property!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: East Anaheim

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: East Anaheim

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943345

* 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
Sycamore Junior High School Middle Regular 1,408 62 1
Anaheim High School High Regular 3,206 130 4
Sycamore Junior High School Middle Unknown NA

Sycamore Junior High School

  • Education Level: Middle
  • # of students: 1,408
  • # of teachers: 62
1
GreatSchools Rating

Anaheim High School

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

Sycamore Junior High School

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

$621,000$759,000$690,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,397
Property Tax -$709
Property Insurance -$57
Property Management Fees -$127
CASH FLOW
-$700

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.

$690,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.1%
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

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$188,600

INVESTMENT

$188,600

Down Payment
$172,500
Rehab Estimate
$5,750
Closing Costs
$10,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,397

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,500
Loan Amount $517,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $2.09

    LIST RENT PER SQFT
  • $2,596

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,590
1$2,5902$2,6003$2,8504$2,9955$3,000
$3,000
RENT COMPS ANALYSIS
  • 1231 E Balsam Avenue Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $2.09
    •  
  • 1333 E Kenwood Avenue Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1954
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.98
    •  
  • 1242 E Kenwood Avenue Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1954
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.17
    •  
  • 544 S Elder Street Anaheim, CA 4
    • 4 beds 2 baths ∙ 1,390 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,390 Sqft ∙ Built 1954
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.15
    •  
  • 303 S Dawn Street Anaheim, CA 5
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1954
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.06
    •  
PROPERTY LISTING DETAILS
Henry Cossio
Own It Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21044433
Last Updated: 03/05/2021
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