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1940 W Orange Avenue Anaheim, CA 92804

3 Beds 2 Baths 1,210 sqft Built 1957

$599,900

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $495.79
  • 7 Days on Market
  • MLS # : PW20257169
  • Updated Date : 12/18/2020 at 11:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,210 sqft
  • Baths : 2 full
Listing Agent

Major League Properties

Listing Agent's Description

Amazing opportunity to make this 3bd | 2ba single-family residence your own. On a corner lot, this 7,800 square foot lot home is centrally located near schools, parks, freeways, and plenty of shopping. This is a wonderful opportunity to rehab to live in, potential profit, or rent out for long-term income. Property sold "as-is".

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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
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
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,213
Property Tax -$617
Property Insurance -$56
Property Management Fees -$134
CASH FLOW
-$281

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.

$599,900

PROJECTED PRICE

$2,740

PROJECTED RENT

0.46%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$28,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $2,511

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,7404$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 1940 W Orange Avenue Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $2.26
    •  
  • 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
    •  
  • 1743 W Niobe Avenue Anaheim, CA 2
    • 4 beds 2 baths ∙ 1,240 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,240 Sqft ∙ Built 1958
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.02
    •  
  • 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
    •  
  • 644 S Broadview Street Anaheim, CA 5
    • 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1956
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.18
    •  
PROPERTY LISTING DETAILS
Nelida Mora
Major League Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20257169
Last Updated: 12/18/2020
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