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2246 E Romneya Drive Anaheim, CA 92806

4 Beds 3 Baths 2,191 sqft Built 1958

$769,900

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $351.39
  • 5 Days on Market
  • MLS # : OC20261600
  • Updated Date : 12/23/2020 at 09:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,191 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Beautiful & spacious family home located in a desirable neighborhood of Anaheim! This unique tri-level property features 4 bedrooms, 2.5 baths, and almost 2,200 sq ft of living space. The inviting curb appeal offers luscious green landscaping, a large driveway, and an entryway with beautiful pavers. The main entry foyer & living room boasts high ceilings, brand new laminate flooring, a grand brick fireplace, and plenty of natural light from the huge windows and slider patio door. The kitchen features traditional wood cabinets, classic appliances, a breakfast nook space, which leads to the formal dining room. Leading up the short flight of stairs takes you to the 4 bedrooms, with a hallway full bathroom with travertine detail. The master bedroom features double closets, a make-up vanity, and a fully remodeled master bathroom with brand new modern shower design, vanity, and toilet. The stairs leading downstairs from the main entry takes you to a storage room which is perfect for all your storage needs. The huge 984 sq ft basement next to it is a versatile room that can be used as a kids' playroom, a family room, or entertainment room. Adding to the great features to this home are Central AC/Heat, direct 2-car garage with brand new door & opener, spacious backyard with wood patio cover, brand new carpet, and brand new interior paint. Enjoy the good life in this turn-key property and make it your own home sweet home!

SEE MORE

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: 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
Rio Vista Elementary School Primary Regular 915 31 5
Valadez Middle School Academy Middle Regular 694 29 4
Valencia High School High Magnet 2,740 100 9

Rio Vista Elementary School

  • Education Level: Primary
  • # of students: 915
  • # of teachers: 31
5
GreatSchools Rating

Valadez Middle School Academy

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 29
4
GreatSchools Rating

Valencia High School

  • Education Level: High
  • # of students: 2,740
  • # of teachers: 100
9
GreatSchools Rating
 

$692,910$846,890$769,900

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$2,841
Property Tax -$774
Property Insurance -$80
Property Management Fees -$167
CASH FLOW
-$462

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.

$769,900

PROJECTED PRICE

$3,400

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$209,774

INVESTMENT

$209,774

Down Payment
$192,475
Rehab Estimate
$5,750
Closing Costs
$11,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $192,475
Loan Amount $577,425
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$27,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $3,560

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,3504$3,4005$3,995
$3,995
RENT COMPS ANALYSIS
  • 2246 E Romneya Drive Anaheim, CA 4
    • 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 1958 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.55
    •  
  • 200 N Ladera Vista Drive N Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1960
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.63
    •  
  • 121 S Plantation Place Anaheim, CA 2
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.46
    •  
  • 2530 E Elsiena Way Anaheim, CA 3
    • 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1974
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.72
    •  
  • 2625 E Ward Anaheim, CA 5
    • 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 1970
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.69
    •  
PROPERTY LISTING DETAILS
Krissy Tu
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20261600
Last Updated: 12/23/2020
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