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1762 W Minerva Avenue Anaheim, CA 92804

3 Beds 2 Baths 1,300 sqft Built 1959

$699,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $537.69
  • 6 Days on Market
  • MLS # : OC21047945
  • Updated Date : 03/12/2021 at 13:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome Home! Charming Single Story Three Bedroom, Two Bath (one with a shower tub combo, and the other a walk in shower) POOL HOME with an Extra Large Driveway! The house has a great flowing floor plan, a nice size living room with a beautiful floor to ceiling brick fireplace which is adjacent to the dining area right off the galley kitchen. In addition, there is a separate dining room nestled in-between the kitchen and the large bonus room - roughly 500 square feet of fun (not included in square footage listed above) currently utilized as a game/sports room. This room has a high beamed ceiling, and stained concrete floors perfect for playing a little pool, and watching your favorite sports! The kitchen boasts newer warm dark cabinetry, light quartz counter tops, a stainless sink, and a stylish glass back splash - both the master bathroom and kitchen have been remodeled. The laundry room is a good size and located just off the bonus room. Features include: newer dual pane windows throughout, and sliding door leading into the back yard, hardwood flooring in all bedrooms, hallway, living room, and both dinning areas, Text-Cote Cool Wall exterior paint, AC, window blinds, ceiling fans, pool shed, refrigerator, washer and dryer included. Walking distance to Loara High School, Ball Middle School, Clara Barton Elementary, and a very short drive to both the Disneyland Resort, and Knotts Berry Farm!

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
Ball Junior High School Middle Regular 1,043 40 2
Loara High School High Regular 2,377 88 4
Ball Junior High School Middle Unknown NA

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

Ball Junior High School

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

$629,100$768,900$699,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,428
Property Tax -$719
Property Insurance -$59
Property Management Fees -$131
CASH FLOW
-$656

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.

$699,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.38%

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $2,678

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,6803$2,9004$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 1762 W Minerva Avenue Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $2.06
    •  
  • 1250 S Brookhurst Street Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1971
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.96
    •  
  • 1604 W Palais Road Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1961
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.99
    •  
  • 508 S Fann Street Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1956
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.14
    •  
  • 2126 W Willow Avenue Anaheim, CA 5
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1956
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.15
    •  
PROPERTY LISTING DETAILS
Lisa Chudzicki
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21047945
Last Updated: 03/12/2021
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