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1940 W Broadway Anaheim, CA 92804

4 Beds 2 Baths 1,744 sqft Built 1955

$685,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $392.78
  • 8 Days on Market
  • MLS # : OC20260744
  • Updated Date : 12/23/2020 at 21:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,744 sqft
  • Baths : 2 full
Listing Agent

Real Estate Legends

Listing Agent's Description

Welcome to 1940 Broadway where you’ll be greeted by stunning high beamed ceilings and a cozy fireplace in this 4 Bedroom, 2 Full Bath Anaheim beauty! Warm wood laminate floors throughout this home with soft neutral paint and beautiful plantation shutters in the main living space flow to a true open concept kitchen with a spacious eat-in area. Gleaming granite counters with stainless steel appliances make it complete. Both bathrooms have been beautifully updated with the highest attention to every detail! This home has been meticulously maintained and cared for by it’s owners, ready for it’s new owners! New grass in the front yard! And easy access is provided by the extra large circular driveway. Plenty of room for guests plus RV Parking! The back yard is an entertainer’s delight! Mature lush grass, a concrete area for your bbq, tables & chairs plus the coolest fire pit to cozy up around on these chilly So Cal evenings! Relax after a long day and enjoy your new space made extra private with a solid block wall. Please note ~ New roof in 2019, new elec sub panel in 2016 & RV Parking! Appliances are negotiable.

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MARKET HIGHLIGHTS

  • 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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
Magnolia High School High Regular 1,813 73 3

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

Magnolia High School

  • Education Level: High
  • # of students: 1,813
  • # of teachers: 73
3
GreatSchools Rating
 

$616,500$753,500$685,000

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 -$2,527
Property Tax -$705
Property Insurance -$69
Property Management Fees -$147
CASH FLOW
-$448

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.

$685,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.44%

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$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$187,275

INVESTMENT

$187,275

Down Payment
$171,250
Rehab Estimate
$5,750
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$21,656

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
  • $1.72

    LIST RENT PER SQFT
  • $3,287

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9003$2,9984$3,0005$3,950
$3,950
RENT COMPS ANALYSIS
  • 1940 W Broadway Anaheim, CA 4
    • 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.72
    •  
  • 206 S Topo Street Anaheim, CA 1
    • 3 beds 1 baths ∙ 1,505 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,505 Sqft ∙ Built 1955
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.73
    •  
  • 725 S Hacienda Street Anaheim, CA 2
    • 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
    •  
  • 519 S Agate Street Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1960
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,998
    • $2.00
    •  
  • 512 S Anthony Street Anaheim, CA 5
    • 5 beds 4 baths ∙ 2,005 Sqft ∙ Built 1964 5 beds 4 baths ∙ 2,005 Sqft ∙ Built 1964
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.97
    •  
PROPERTY LISTING DETAILS
Patricia Gregory
Real Estate Legends
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20260744
Last Updated: 12/23/2020
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