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1789 W Crone Avenue Anaheim, CA 92804

5 Beds 2 Baths 1,760 sqft Built 1958

$739,000

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $419.89
  • 6 Days on Market
  • MLS # : OC20244350
  • Updated Date : 11/25/2020 at 12:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

HURRY!! STOP THE CAR!!! Total Remodel! Anaheim Single story home with NEW flooring, doors, windows, cabinets, roof, appliances and even APEX piping!!! This Anaheim home has been renovated from top to bottom taking turnkey to an entire new level. As you approach the home, you are welcomed with a spacious and green lush front yard and captivating curb appeal. The home is able to be enjoyed as a 4 bedroom + 2 bath with a separate guest suite with private entrance and full additional bed & bath! Perfect for renting out this unit or having extended family that prefer a little independence. This dream home is light and bright, offering 4 bedrooms and 2 baths. Completely transformed, this open floorpan is perfect for entertaining. The kitchen features gorgeous white cabinetry, updated stainless-steel appliances, and an oversized-island/ breakfast bar. The kitchen is just one of the many updates completed providing an elegant and contemporary interior, The bathrooms are also completely remodeled with upgraded cabinets, counter tops and the most elegant finishes! The bedrooms have new flooring, windows, closet doors and fresh paint to provide a clean and upscale feel. This home is perfectly located in the heart of Anaheim surrounded by wonderful homes, wide tree lined streets and and a great sense of community! Conveniently located, this home is right between the 5 and 91 freeways, close to the Block Shopping Center, Disneyland, Knott's Berry Farm, and the Honda Event Center. No HOA!

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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
Barton Elementary School Primary Regular 713 27 3
Barton Elementary School Middle Regular 713 27 3
Loara High School High Regular 2,377 88 4

Barton Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 27
3
GreatSchools Rating

Barton Elementary School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 27
3
GreatSchools Rating

Loara High School

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

$665,100$812,900$739,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,727
Property Tax -$760
Property Insurance -$70
Property Management Fees -$142
CASH FLOW
-$798

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.

$739,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.39%

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

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$201,585

INVESTMENT

$201,585

Down Payment
$184,750
Rehab Estimate
$5,750
Closing Costs
$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,727

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,750
Loan Amount $554,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$6,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $3,172

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9003$2,9954$3,1005$3,400
$3,400
RENT COMPS ANALYSIS
  • 1789 W Crone Avenue Anaheim, CA 2
    • 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.65
    •  
  • 725 S Hacienda Street Anaheim, CA 1
    • 4 beds 3 baths ∙ 1,579 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,579 Sqft ∙ Built 1964
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.84
    •  
  • 1508 W Tedmar Avenue Anaheim, CA 3
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1977
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.72
    •  
  • 9871 Harriet Lane Anaheim, CA 4
    • 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1954
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.87
    •  
  • 1580 W Chanticleer Road Anaheim, CA 5
    • 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1956 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1956
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.78
    •  
PROPERTY LISTING DETAILS
Rachel Swardstrom
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20244350
Last Updated: 11/25/2020
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