Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2202 E Ward Anaheim, CA 92806

3 Beds 2 Baths 1,128 sqft Built 1954

$579,990

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $514.18
  • 5 Days on Market
  • MLS # : RS21008218
  • Updated Date : 01/14/2021 at 10:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,128 sqft
  • Baths : 1 full , 1 half
Listing Agent

Beacon Hillcrest

Listing Agent's Description

Think BIG and don't listen to people who tell you it can't be done... this out dated house is ready for the next homeowner to turn this into a home. The previous owner loved this house so much they lived here for decades. It has nice size bedrooms and a large livingroom. Authentic wood beam ceilings bring the warm mountain feeling indoors. Plenty of natural sunlight and room to expand. It provides plenty of privacy for your gatherings. It is located walking distance to retail stores and restaurants. The potential in this house is a priceless treasure, like gold!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: East Anaheim

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: East Anaheim

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
Sunkist Elementary School Primary Regular 892 31 3
Sunkist Elementary School Middle Regular 892 31 3
Katella High School High Regular 2,692 92 4

Sunkist Elementary School

  • Education Level: Primary
  • # of students: 892
  • # of teachers: 31
3
GreatSchools Rating

Sunkist Elementary School

  • Education Level: Middle
  • # of students: 892
  • # of teachers: 31
3
GreatSchools Rating

Katella High School

  • Education Level: High
  • # of students: 2,692
  • # of teachers: 92
4
GreatSchools Rating
 

$521,991$637,989$579,990

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,015
Property Tax -$596
Property Insurance -$54
Property Management Fees -$126
CASH FLOW
-$212

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.

$579,990

PROJECTED PRICE

$2,580

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$159,447

INVESTMENT

$159,447

Down Payment
$144,998
Rehab Estimate
$5,750
Closing Costs
$8,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,015

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,998
Loan Amount $434,993
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$25,602

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $2.29

    LIST RENT PER SQFT
  • $2,279

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5803$2,8004$3,000
$3,000
RENT COMPS ANALYSIS
  • 2202 E Ward Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $2.29
    •  
  • 1284 E California Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1952
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.00
    •  
  • 613 S Wayside Street Anaheim, CA 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.00
    •  
  • 303 S Dawn Street Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1954
    property image
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.06
    •  
PROPERTY LISTING DETAILS
Erick Hernandez
Beacon Hillcrest
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS21008218
Last Updated: 01/14/2021
BESbswy