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2668 W Cornell Avenue Anaheim, CA 92801

3 Beds 2 Baths 1,751 sqft Built 1958

$669,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $382.07
  • 3 Days on Market
  • MLS # : PW21011429
  • Updated Date : 01/22/2021 at 13:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,751 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful 3 bed, 2 bath home with gorgeous curb appeal in a quiet cul-de-sac of Anaheim with a completely open floor plan, expanded bedrooms and living room (with permits), dual pane vinyl windows, newer HVAC, extra-large driveway, a HUGE detached shed on its own foundation, indoor laundry room, tons of storage, bright and open living room, new quartz counters in bathroom, lighted ceiling fans, prestigious brick fireplace, and close to tons of shops and restaurants. Walk up the brick walkway with flower lined brick planters. Enter in to tiled flooring, leading you to the open kitchen with tiled counters, Spectra oven with gas stove top, 3-seater breakfast bar, beautiful white cabinetry, extra storage, a quaint breakfast nook, and even a hidden drop down rack for spices. Kitchen opens up to the spacious living room with brick accented fireplace and wood mantle, plus built-in sitting bench (with storage underneath) for a perfect reading nook. Sliding door leads you to the private back yard with that large storage shed. Hallway bathroom has a new vanity with quartz counter, sunken spa tub, and tiled flooring. Master bedroom has a private bathroom with new tile flooring and tiled shower. Bedrooms 2 & 3 are prodigious with large closets and lighted ceiling fans, plus one has built in shelving. Indoor laundry room is off the kitchen and has built in cabinetry. 2 Car garage has extra storage.

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: West Anaheim

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: West Anaheim

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15413345

* 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
Dr. Peter Marshall Elementary School Primary Regular 657 24 8
Dr. Peter Marshall Elementary School Middle Regular 657 24 8
Savanna High School High Regular 2,055 73 3

Dr. Peter Marshall Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 24
8
GreatSchools Rating

Dr. Peter Marshall Elementary School

  • Education Level: Middle
  • # of students: 657
  • # of teachers: 24
8
GreatSchools Rating

Savanna High School

  • Education Level: High
  • # of students: 2,055
  • # of teachers: 73
3
GreatSchools Rating
 

$602,100$735,900$669,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,324
Property Tax -$676
Property Insurance -$69
Property Management Fees -$141
CASH FLOW
-$340

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.

$669,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.9%
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

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$183,035

INVESTMENT

$183,035

Down Payment
$167,250
Rehab Estimate
$5,750
Closing Costs
$10,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,250
Loan Amount $501,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$22,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $3,095

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8003$2,8704$3,2005$3,275
$3,275
RENT COMPS ANALYSIS
  • 2668 W Cornell Avenue Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $1.64
    •  
  • 206 S Topo Street Anaheim, CA 1
    • 3 beds 1 baths ∙ 1,505 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,505 Sqft ∙ Built 1955
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.73
    •  
  • 8640 Greenleaf Avenue Buena Park, CA 2
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1955
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.77
    •  
  • 2951 W Orange Avenue Anaheim, CA 4
    • 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 1956 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 1956
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.78
    •  
  • 435 S Shields Drive Anaheim, CA 5
    • 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 1956 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 1956
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $1.79
    •  
PROPERTY LISTING DETAILS
Ron Arnold
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21011429
Last Updated: 01/22/2021
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