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2803 W Devoy Drive Anaheim, CA 92804

3 Beds 2 Baths 1,345 sqft Built 1955

$690,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $513.01
  • 52 Days on Market
  • MLS # : OC20260281
  • Updated Date : 02/06/2021 at 17:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,345 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Home

Listing Agent's Description

*** 3 bed, 2 bath Beautiful, Completely Remodeled Single Family Home in a good neighborhood *** Lovely, immaculate, everything inside in house are brand new with many upgrades: Open floor plan, Large Living Room with Vaulted Ceiling, Master Bedroom with Master Bathroom, New flooring, New Paint, Beautiful New kitchen and cabinet, New appliances, New bathroom, spacious living and dining areas. All bedrooms & bathrooms are brand new and downstairs, laundry area in garage. Very Large backyard. Convenient location close to schools, library, bus stop, restaurants, supermarket, bank, post office, Knott’s Berry Farm, Disneyland. Easy access to 5 and 22 freeway. * Note: pool was completely drained, no water & dangerous, please stay outside of the pool fence. Very large lot size so the next owner could get permits from the city to fill up the pool, add additional sqft to existing house and also build additional new unit / ADU in the backyard.

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: 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
Lord Baden-powell Elementary School Primary Regular 734 32 5
Lord Baden-powell Elementary School Middle Regular 734 32 5
Magnolia High School High Regular 1,813 73 3

Lord Baden-powell Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 32
5
GreatSchools Rating

Lord Baden-powell Elementary School

  • Education Level: Middle
  • # of students: 734
  • # of teachers: 32
5
GreatSchools Rating

Magnolia High School

  • Education Level: High
  • # of students: 1,813
  • # of teachers: 73
3
GreatSchools Rating
 

$621,000$759,000$690,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,397
Property Tax -$683
Property Insurance -$60
Property Management Fees -$135
CASH FLOW
-$524

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.

$690,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.40%

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-$10k-$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$188,600

INVESTMENT

$188,600

Down Payment
$172,500
Rehab Estimate
$5,750
Closing Costs
$10,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,397

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,500
Loan Amount $517,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$11,970

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $2,774

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7503$2,7504$2,8005$2,995
$2,995
RENT COMPS ANALYSIS
  • 2803 W Devoy Drive Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.04
    •  
  • 419 S Gain Street Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1956
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.87
    •  
  • 3122 W Maywood Avenue Anaheim, CA 2
    • 3 beds 3 baths ∙ 1,281 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,281 Sqft ∙ Built 1958
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.15
    •  
  • 1219 S East Gates Street Anaheim, CA 4
    • 3 beds 3 baths ∙ 1,281 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,281 Sqft ∙ Built 1958
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.19
    •  
  • 3142 W Olinda Lane Anaheim, CA 5
    • 4 beds 2 baths ∙ 1,469 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,469 Sqft ∙ Built 1956
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.04
    •  
PROPERTY LISTING DETAILS
Hanson Le
Berkshire Hathaway Home
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20260281
Last Updated: 02/06/2021
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