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1604 E Elm Street Anaheim, CA 92805

3 Beds 2 Baths 1,320 sqft Built 1954

$670,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $507.58
  • 7 Days on Market
  • MLS # : PW20227804
  • Updated Date : 11/02/2020 at 17:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Homeland Realty And Investment

Listing Agent's Description

Lovely 3 bedrooms, 2 bathrooms home; everything is so beautiful with two living rooms, cozy fireplace for a comfortable TV time. Open space kitchen with new cabinets and granite counter tops, ceiling fans and ceramic floors throughout the house. Ceramic tiles in bathrooms walls, doorways with round open arches and a kitchen nook with a dropped ceiling and a two car garage with washer and dryer hookups. Conveniently located closed to Disneyland, prestigious schools, shopping centers, grocery stores, parks and a great neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Abraham Lincoln Elementary School Primary Regular 947 34 1
Abraham Lincoln Elementary School Middle Regular 947 34 1
Anaheim High School High Regular 3,206 130 4

Abraham Lincoln Elementary School

  • Education Level: Primary
  • # of students: 947
  • # of teachers: 34
1
GreatSchools Rating

Abraham Lincoln Elementary School

  • Education Level: Middle
  • # of students: 947
  • # of teachers: 34
1
GreatSchools Rating

Anaheim High School

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

$603,000$737,000$670,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,472
Property Tax -$701
Property Insurance -$59
Property Management Fees -$128
CASH FLOW
-$750

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.

$670,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.39%

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-$15k-$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$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,500
Loan Amount $502,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $2,630

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4003$2,6104$2,8005$3,100
$3,100
RENT COMPS ANALYSIS
  • 1604 E Elm Street Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.98
    •  
  • 1608 E Elm Street Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1954
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.90
    •  
  • 1284 E California Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1952
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.00
    •  
  • 613 S Wayside Street Anaheim, CA 4
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.00
    •  
  • 857 S Wayside Street Anaheim, CA 5
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1959
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.07
    •  
PROPERTY LISTING DETAILS
Willy Quezada
Homeland Realty And Investment
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20227804
Last Updated: 11/02/2020
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