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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $415.22
- 5 Days on Market
- MLS # : OC21012976
- Updated Date : 01/29/2021 at 15:21
CONSTRUCTION
- Beds : 3
- Floor Size : 1,156 sqft
- Baths : 2 full
Listing Agent
Homesmart, Evergreen Realty
Listing Agent's Description
WELCOME TO YOUR NEW HOME!!! Come see this spacious 3bedroom, 3bath condominium, located in a very desirable and quiet area. With NO solar panels or Mello- Roos in place. Home offers plenty of natural light and good size windows throughout. It has tile flooring on the 1st floor and laminate wood flooring on the 2nd floor. Gas/wood fireplace in the living room with a quarter bathroom. The kitchen has plenty of cabinets and a good size pantry. All bedrooms are upstairs: Master bedroom is not only spacious but it can also be a quiet retreat because it has a balcony were you can enjoy your favorite novel or cup of coffee. It comes with two large closets, a master bathroom with dual sink and a private toilet room. A 3rd bathroom is conveniently located in the hallway. Washer and dryer hook-ups are in the garage and extra storage space (12x8) in the attic You'll love the convenience of your own off-street, attached 2 car garage and a great neighborhood in one of OC’s hippest areas. Quick access to the 5, 57 and 91 Freeways, for an easy commute! Hurry, this gem won’t last!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Anaheim
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,490 |
| EXPENSES | Loan Payment | -$1,667 |
| Property Tax | -$502 | |
| Property Insurance | -$55 | |
| HOA | -$370 | |
| Property Management Fees | -$122 | |
|
CASH FLOW
-$226
|
||
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.
$480,000
PROJECTED PRICE
$2,490
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$132,950
LOAN DETAILS
$1,667
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $120,000 |
| Loan Amount | $360,000 |
3.5
YEARS SAVED
$14,422
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,490
LIST RENT -
$2.15
LIST RENT PER SQFT
-
$2,488
COMP ESTIMATED VALUE -
$2.15
COMP AVG. RENT PER SQFT
Comps Range
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227 N Coffman Street Anaheim, CA 2
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- $2,490
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969 Eastwind Drive Placentia, CA 1
- 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1972
LEASED 12/07/20- Rent
- Rent Per SQFT
- $2,400
- $2.20
-
422 N Beth Street Anaheim, CA 3
- 3 beds 3 baths ∙ 1,266 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,266 Sqft ∙ Built 1971
LEASED 06/05/20- Rent
- Rent Per SQFT
- $2,700
- $2.13
-
1260 E La Palma Avenue Anaheim, CA 4
- 3 beds 3 baths ∙ 1,282 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,282 Sqft ∙ Built 1985
LEASED 11/08/20- Rent
- Rent Per SQFT
- $2,750
- $2.15
-
2015 E Saddlewood Lane Anaheim, CA 5
- 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1973
LEASED 08/01/19- Rent
- Rent Per SQFT
- $2,800
- $2.13
PROPERTY LISTING DETAILS
Homesmart, Evergreen Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21012976
Last Updated: 01/29/2021
