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230 E Florence Avenue Anaheim, CA 92805

3 Beds 2 Baths 1,800 sqft Built 1950

$619,900

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $344.39
  • 3 Days on Market
  • MLS # : IG20251350
  • Updated Date : 12/04/2020 at 08:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Active Realty

Listing Agent's Description

Fall in love with this charming home! Located in a quiet neighborhood, the house is a 3bd, 2ba with permitted addition. Upon entering you are greeted by a fabulous vintage kitchen with plenty of natural light from the skylight. Durable tile throughout the kitchen, dining and den areas. The exterior of the home has a fresh coat of paint. Dual pane windows throughout the home.The large backyard is filled with Mango, Longan, Pink Guava and Tangerine fruit trees, a covered patio and a garage/workshop. Ceiling fans in Living room and bedrooms. Home is wired for A/C, no A/C unit installed. Centrally located to the 5,91, and 57 fwys. Within close proximity to Disneyland, The Packing District, shopping and Dining. Don't miss this one, it won't last. Make your offer today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: The Colony

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $199k742k

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

Neighborhood: The Colony

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14693345

* 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
Olive Street Elementary School Primary Regular 660 25 2
Olive Street Elementary School Middle Regular 660 25 2
Katella High School High Regular 2,692 92 4

Olive Street Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 25
2
GreatSchools Rating

Olive Street Elementary School

  • Education Level: Middle
  • # of students: 660
  • # of teachers: 25
2
GreatSchools Rating

Katella High School

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

$557,910$681,890$619,900

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,287
Property Tax -$648
Property Insurance -$71
Property Management Fees -$147
CASH FLOW
-$153

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.

$619,900

PROJECTED PRICE

$3,000

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$170,024

INVESTMENT

$170,024

Down Payment
$154,975
Rehab Estimate
$5,750
Closing Costs
$9,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,287

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,975
Loan Amount $464,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$42,511

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $3,191

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7003$3,0004$3,0005$3,195
$3,195
RENT COMPS ANALYSIS
  • 230 E Florence Avenue Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.67
    •  
  • 1216 E Turin Avenue Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1958
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.69
    •  
  • 1425 E California Place Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1952
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.75
    •  
  • 879 S Wayside Street Anaheim, CA 3
    • 4 beds 1 baths ∙ 1,639 Sqft ∙ Built 1959 4 beds 1 baths ∙ 1,639 Sqft ∙ Built 1959
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.83
    •  
  • 700 S Janss Street Anaheim, CA 5
    • 4 beds 3 baths ∙ 1,757 Sqft ∙ Built 1950 4 beds 3 baths ∙ 1,757 Sqft ∙ Built 1950
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.82
    •  
PROPERTY LISTING DETAILS
Belinda Anzo
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20251350
Last Updated: 12/04/2020
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