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2223 S Della Lane Anaheim, CA 92802

5 Beds 2 Baths 2,833 sqft Built 1961

$965,000

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $340.63
  • 5 Days on Market
  • MLS # : OC20242206
  • Updated Date : 11/21/2020 at 09:44
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,833 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Immaculate 5 bed, 3 bath home. Boasts 2,425 sqft living space, new A/C and a newly remodeled detached ADU. Main house is Unit A and ADU is Unit B. As you approach, you will find a lovely front porch and lush front yard. Upon entering is the naturally brightened living room, adjoined formal dining room, and kitchen. Original hardwood flooring flows throughout. Kitchen features a breakfast nook, lots of cabinet space, ceramic tile floors, new 5 burner gas cooktop, new microwave, and access to the attached 2 car garage. Formal dining room has a cozy fireplace and patio door. Glass sliders open up to a huge family room with cathedral ceilings, carpet flooring, and built-in entertainment center. To the left of the home are 2 bedrooms, an upgraded full bathroom, master bedroom, and one bedroom with a remodeled en suite. Carnations and jasmines beautifully accompany greenbelts in the expansive and paved backyard. The built-in grill/bar area features gas lines, 2 separate burners, and a new refrigerator. French doors open up to a bright 408 sqft ADU offering a full kitchen with new hood vent, quartz counters, gas range, convection oven, individual washer/gas dryer hookups, and walk-in shower with travertine flooring/shower walls. Other features of the home include plantation shutters, various glass patio sliders, dual pane windows, water softener and washer/gas dryer hookups. Minutes away from Kaiser Permanente, Ralphs, Walgreens, Starbucks, Disneyland, Korean Town and Little Saigon.

SEE MORE

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: 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
Stoddard Elementary School Primary Regular 708 26 5
Stoddard Elementary School Middle Regular 708 26 5
Loara High School High Regular 2,377 88 4

Stoddard Elementary School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 26
5
GreatSchools Rating

Stoddard Elementary School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 26
5
GreatSchools Rating

Loara High School

  • Education Level: High
  • # of students: 2,377
  • # of teachers: 88
4
GreatSchools Rating
 

$868,500$1,061,500$965,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$3,560
Property Tax -$965
Property Insurance -$86
Property Management Fees -$168
CASH FLOW
-$1,359

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.

$965,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.35%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$261,475

INVESTMENT

$261,475

Down Payment
$241,250
Rehab Estimate
$5,750
Closing Costs
$14,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,560

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $241,250
Loan Amount $723,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$881

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $3,450

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,4003$3,4204$3,7005$3,950
$3,950
RENT COMPS ANALYSIS
  • 2223 S Della Lane Anaheim, CA 3
    • 4 beds 2 baths ∙ 2,425 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,425 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $1.41
    •  
  • 1672 S Carnelian Street Anaheim, CA 1
    • 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 2
    • 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 4
    • 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
    •  
  • 12281 Loraleen Street Garden Grove, CA 5
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1950
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.44
    •  
PROPERTY LISTING DETAILS
Elizabeth Do
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20242206
Last Updated: 11/21/2020
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