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1381 S Walnut Street #2108 Anaheim, CA 92802

3 Beds 3 Baths 1,192 sqft Built 1974

$505,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $423.66
  • 3 Days on Market
  • MLS # : DW21009694
  • Updated Date : 01/15/2021 at 16:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,192 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fortune Weaver Realty

Listing Agent's Description

Welcome to this beautifully renovated 3 bedroom, 2 1/2 bath condominium with a detached single-car garage plus an extra assigned parking space! This home is located in Anaheim in a quiet desirable enclosed community. The downstairs boasts an open floor plan with kitchen, dining room, spacious living room with fireplace, bathroom and laundry room with recessed lighting and surround sound, a MUST SEE. Both the dining room and living room open to the backyard through sliding glass doors. All bedrooms are upstairs. Fresh new paint throughout, new vinyl plank flooring and carpet, new water heater. Upgraded master bedroom with two large closets and bathroom with ceramic tile floors, pristine tile work, and custom glass shower door. This move-in-ready condominium is just waiting for a new family to call it home! Amenities of the complex include pool, jacuzzi, clubhouse, as well as separate kids pool, playground and greenbelt for all to enjoy! *Community is undergoing external renovations. Additional parking spaces may be available for purchase. Disneyland, freeways, hospital and shopping are all within close proximity.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Palm Lane Elementary School Primary Regular 721 26 1
Ball Junior High School Middle Regular 1,043 40 2
Loara High School High Regular 2,377 88 4

Palm Lane Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 26
1
GreatSchools Rating

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
 

$454,500$555,500$505,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,754
Property Tax -$519
Property Insurance -$56
HOA -$370
Property Management Fees -$127
CASH FLOW
-$227

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.

$505,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.51%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$16,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $2,596

    COMP ESTIMATED VALUE
  • $2.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5503$2,6004$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1381 S Walnut Street Anaheim, CA 3
    • 3 beds 3 baths ∙ 1,192 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,192 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.18
    •  
  • 1310 W Laster Avenue Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.08
    •  
  • 1700 W Cerritos Avenue Anaheim, CA 2
    • 3 beds 3 baths ∙ 1,166 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,166 Sqft ∙ Built 1981
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $2.19
    •  
  • 1723 W Crestwood Lane Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1955
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.24
    •  
  • 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
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.20
    •  
PROPERTY LISTING DETAILS
Donna Schmalried
Fortune Weaver Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21009694
Last Updated: 01/15/2021
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