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1872 S Eileen Drive Anaheim, CA 92802

5 Beds 3 Baths 2,593 sqft Built 1959

$1,100,000

List Price

$3,640

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $424.22
  • 29 Days on Market
  • MLS # : OC21129916
  • Updated Date : 07/12/2021 at 13:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,593 sqft
  • Baths : 3 full
Listing Agent

Realty One Group West

Listing Agent's Description

Beautiful Semi-custom home in Anaheim, this home was rebuilt per previous owner in 2006 with 5 bedroom 3 bath, an open concept plan with high ceilings and grand foyer. Two master suites, a luxury master suite with a walking closet, open gourmet kitchen with center island big enough to entertain a large crowd, laundry room and pantry, 2 car attached garage, nice and cozy back yard easy to maintain. Beautiful tree lined streets and semi private street. This home IS A MUST SEE.!!

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MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: Garden Grove

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Garden Grove

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
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
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,276$4,004$3,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,640
EXPENSES Loan Payment -$3,821
Property Tax -$1,147
Property Insurance -$90
Property Management Fees -$178
CASH FLOW
-$1,596

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.

$1,100,000

PROJECTED PRICE

$3,640

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.4%
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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,640

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $3,591

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,4003$3,4004$3,6405$3,700
$3,700
RENT COMPS ANALYSIS
  • 1872 S Eileen Drive Anaheim, CA 4
    • 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 1959 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $3,640
    • $1.40
    •  
  • 807 S Agate Street Anaheim, CA 1
    • 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 1956 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 1956
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.29
    •  
  • 1672 S Carnelian Street Anaheim, CA 2
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 1969
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.33
    •  
  • 11871 Samuel Drive Garden Grove, CA 3
    • 5 beds 3 baths ∙ 2,298 Sqft ∙ Built 1953 5 beds 3 baths ∙ 2,298 Sqft ∙ Built 1953
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.48
    •  
  • 1651 S Tiara Way Anaheim, CA 5
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 1969
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.44
    •  
PROPERTY LISTING DETAILS
Nellie Nungaray
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21129916
Last Updated: 07/12/2021
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