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1417 W Castle Avenue Anaheim, CA 92802

4 Beds 2 Baths 1,229 sqft Built 1955

$659,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $536.21
  • 4 Days on Market
  • MLS # : OC20198605
  • Updated Date : 11/21/2020 at 05:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,229 sqft
  • Baths : 2 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Dare to compare to any others! This beautiful four bedroom home on a quiet tree lined street is the perfect family home. Traditional architectural details of a covered front porch, box windows and wood siding create an inviting street presence. Separate entry foyer is the perfect place to greet family and guests and makes a nice transition between living areas, kitchen and bedrooms. Flexible floor plan accommodates any lifestyle with open living/dining areas that have huge slider to covered porch and rear yard. Completely remodeled kitchen is a WOW with loads of white shaker cabinetry, quartz counters, stainless appliances and EZ care lux vinyl flooring...and every cook loves a window at the sink! All bedrooms are large, with big wardrobe closets and have space for sleep, study and play. Both bathrooms have been remodeled and sparkle. Covered rear porch extends the living space and includes laundry area. Many upgrades include dual pane windows, newer furnace and water heater, new hardware and fixtures and fresh neutral decor throughout. Oversize two car garage has long driveway that can accommodate several cars. Rear yard is a private oasis with large covered patio for entertaining, mature landscape including fruit trees and big grassy yard...perfect for kids and pets! Excellent neighborhood is just minutes from Disneyland parks and Downtown Disney, yet feels tucked away with no through traffic. You'll love coming home here at the end of a long day....every day!

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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
 

$593,100$724,900$659,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,431
Property Tax -$678
Property Insurance -$57
Property Management Fees -$131
CASH FLOW
-$627

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.

$659,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.41%

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$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$180,385

INVESTMENT

$180,385

Down Payment
$164,750
Rehab Estimate
$5,750
Closing Costs
$9,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,750
Loan Amount $494,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $2.17

    LIST RENT PER SQFT
  • $2,731

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5003$2,6704$2,8505$3,000
$3,000
RENT COMPS ANALYSIS
  • 1417 W Castle Avenue Anaheim, CA 3
    • 4 beds 2 baths ∙ 1,229 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,229 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $2.17
    •  
  • 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
    •  
  • 1743 W Niobe Avenue Anaheim, CA 2
    • 4 beds 2 baths ∙ 1,240 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,240 Sqft ∙ Built 1958
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.02
    •  
  • 1620 W Alomar Avenue Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1955
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.33
    •  
  • 1144 W Chateau Avenue Anaheim, CA 5
    • 4 beds 2 baths ∙ 1,220 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,220 Sqft ∙ Built 1955
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.46
    •  
PROPERTY LISTING DETAILS
Scott Sackin
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20198605
Last Updated: 11/21/2020
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