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215 S Echo Street Anaheim, CA 92804

4 Beds 2 Baths 1,409 sqft Built 1955

INVESTimate

$689,000

List Price

$2,900

$2,650 - $3,150

Rent Est.

$736,610  ( +6.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1955
  • Price/Sqft : $489.00
  • 17 Days on Market
  • MLS # : PW20161813
  • Updated Date : 08/22/2020 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,409 sqft
  • Baths : 2 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

Great 4 bedroom home in a nice neighborhood! This totally remodeled home is not a cheap flip, or ‘Lipstick on a Pig’ as we say in the biz. These upgrades have been done lovingly by an owner that cares for their home! This huge kitchen has quartz countertops with custom made cabinet doors & drawers & high end backsplash. It also features stainless steel appliances, new sink & faucet, recessed lighting & a large garden window overlooking the lucious backyard and large covered patio with beautiful pavers. Off the kitchen is an indoor laundry with more cabinets and shelves for additional storage! Kitchen and laundry each have porcelain tile flooring. Both bathrooms have been remodeled with tile and stone with a large jacuzzi tub in the hall bathroom. This home also has scraped ceilings and its original hardwood floors. And this is just the pretty stuff. This home also has copper plumbing, Milguard dual pane self locking windows with lifetime warranty, new AC unit with new vents for easier air flow, Nest thermostat, an all new electrical panel complete with an EV car charging unit, plus a mature naval orange tree that produces an abundance of oranges each year and much more! Don’t let this one get away!

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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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

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
Loara Elementary School Primary Regular 553 22 3
Brookhurst Junior High School Middle Regular 1,193 45 3
Savanna High School High Regular 2,055 73 3

Loara Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 22
3
GreatSchools Rating

Brookhurst Junior High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 45
3
GreatSchools Rating

Savanna High School

  • Education Level: High
  • # of students: 2,055
  • # of teachers: 73
3
GreatSchools Rating
 

$620,100$757,900$689,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,542
Property Tax -$709
Property Insurance -$61
Property Management Fees -$142
CASH FLOW
-$554

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.

$689,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.91%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,335

INVESTMENT

$188,335

Down Payment
$172,250
Rehab Estimate
$5,750
Closing Costs
$10,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,542

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,250
Loan Amount $516,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,715

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
  • $2.06

    LIST RENT PER SQFT
  • $2,955

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$2,9504$2,9985$3,000
$3,000
RENT COMPS ANALYSIS
  • 215 S Echo Street Anaheim, 2
    • 4 beds 2 baths ∙ 1,409 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,409 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.06
    •  
  • 626 S Alvy Street Anaheim, 1
    • 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1955
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.07
    •  
  • 508 S Fann Street Anaheim, 3
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1956
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.14
    •  
  • 519 S Agate Street Anaheim, 4
    • 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
    •  
  • 644 S Broadview Street Anaheim, 5
    • 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1956
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.18
    •  
PROPERTY LISTING DETAILS
Linda Florence
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20161813
Last Updated: 08/22/2020
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