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2669 E Mardi Gras Ave Anaheim, CA 92806

3 Beds 2 Baths 1,944 sqft Built 1962

INVESTimate

$749,999

List Price

$3,300

$3,050 - $3,550

Rent Est.

$803,549  ( +7.14%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $385.80
  • 8 Days on Market
  • MLS # : CV20169684
  • Updated Date : 08/24/2020 at 10:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,944 sqft
  • Baths : 2 full
Listing Agent

So Cal Realty & Loans

Listing Agent's Description

Welcome to this beautiful OC pool home! Cool down from this heat by taking a dip in the gorgeous lagoon-style pool, which also includes a lovely waterfall. RV parking in the back. There is also a nice patio perfect for those weekend barbecues. Step inside into the open living room which flows into the dining area, while staying cozy by the fireplace. Or unwind in the spacious family room which is currently being used as an entertainment room. The kitchen is large with granite counter tops, tile floors, and lots of cabinet space. This home also includes spacious bedrooms, a master bath with double sinks, and laminate flooring throughout. Make this home yours today!

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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

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
Sunkist Elementary School Primary Regular 892 31 3
Sunkist Elementary School Middle Regular 892 31 3
Katella High School High Regular 2,692 92 4

Sunkist Elementary School

  • Education Level: Primary
  • # of students: 892
  • # of teachers: 31
3
GreatSchools Rating

Sunkist Elementary School

  • Education Level: Middle
  • # of students: 892
  • # of teachers: 31
3
GreatSchools Rating

Katella High School

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

$674,999$824,999$749,999

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,767
Property Tax -$771
Property Insurance -$74
Property Management Fees -$162
CASH FLOW
-$474

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.

$749,999

PROJECTED PRICE

$3,300

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.14%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,499
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$24,971

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $1.7

    LIST RENT PER SQFT
  • $3,378

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,2003$3,3004$3,3505$3,600
$3,600
RENT COMPS ANALYSIS
  • 2669 E Mardi Gras Ave Anaheim, 3
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.70
    •  
  • 1610 E Belmont Avenue Anaheim, 1
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1977
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.76
    •  
  • 2626 E Dutch Avenue Anaheim, 2
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1969
    property image
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.78
    •  
  • 2530 E Elsiena Way Anaheim, 4
    • 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
    •  
  • 2779 E Vermont Avenue Anaheim, 5
    • 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1961
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.69
    •  
PROPERTY LISTING DETAILS
Miguel Munoz
So Cal Realty & Loans
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20169684
Last Updated: 08/24/2020
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