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1606 S Jerinne Street Anaheim, CA 92804

3 Beds 3 Baths 1,647 sqft Built 1956

$749,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $454.77
  • 11 Days on Market
  • MLS # : PW20234087
  • Updated Date : 11/11/2020 at 10:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,647 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remax Tiffany Real Estate

Listing Agent's Description

Welcome home!!! Pride of Ownership!! This light & Bright Single story home has been completely upgraded and remodeled from the ground up, Complete with city permits and to 2020 property specs. No stone has been left unturned on this Gem, Sitting quietly on a private cul-de-sac in the heart of Anaheim, just 7 mins away from Disneyland. You will fall in love with all the natural lighting, open floor concept, large family room & cozy fireplace. The immaculate kitchen will "WOW" you, complete with quartz countertops, bar nook, shaker cabinetry, NEW whirlpool appliances, backsplash & a large walk in pantry w/ a beverage fridge. All windows & sliders have Upgraded to triple pane energy efficient windows. Tuscany, flooring laid with waterproof vinyl plank throughout and a separate laundry room. Additionally, the roof was replaced, NEW Lenox AC unit & tankless water heater. The entire plumbing & electrical systems has been replaced, from copper supply lines to a new electrical service panel, sub-panel, and over 20 LED flush lights throughout. All new paint inside & outside of the home, new baseboards & new chamberlain garage door opener w/ smart technology. The master bedroom includes a large walk-in closet with built in closet organizer and door leading to the back yard. Enjoy the privacy of a large private yard w/ a side yard for RV/ Boat storage space behind the new gate. Conveniently located near Shopping Center's & Restaurant's. Don't miss out on this one!

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: 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
James Madison Elementary School Primary Regular 660 22 3
James Madison Elementary School Middle Regular 660 22 3
Loara High School High Regular 2,377 88 4

James Madison Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 22
3
GreatSchools Rating

James Madison Elementary School

  • Education Level: Middle
  • # of students: 660
  • # of teachers: 22
3
GreatSchools Rating

Loara High School

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

$674,100$823,900$749,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,763
Property Tax -$763
Property Insurance -$67
Property Management Fees -$147
CASH FLOW
-$741

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.

$749,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.40%

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-$15k-$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$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$8,745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,133

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9503$3,0004$3,0005$3,250
$3,250
RENT COMPS ANALYSIS
  • 1606 S Jerinne Street Anaheim, CA 4
    • 3 beds 3 baths ∙ 1,647 Sqft ∙ Built 1956 3 beds 3 baths ∙ 1,647 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.82
    •  
  • 1516 W Lullaby Lane Anaheim, CA 1
    • 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1956 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1956
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
  • 1839 S Margie Lane Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1959
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.71
    •  
  • 11291 Rugh Street Garden Grove, CA 3
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1958
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.87
    •  
  • 11181 Palma Vista Street Garden Grove, CA 5
    • 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1955
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.03
    •  
PROPERTY LISTING DETAILS
John Binder
Remax Tiffany Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20234087
Last Updated: 11/11/2020
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