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2816 E Virginia Avenue Anaheim, CA 92806

3 Beds 2 Baths 1,995 sqft Built 1961

$799,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $400.50
  • 14 Days on Market
  • MLS # : PW20245649
  • Updated Date : 12/01/2020 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,995 sqft
  • Baths : 2 full
Listing Agent

Reliance Real Estate Services

Listing Agent's Description

Beautiful single story home fully remodeled in 2018/2019. Open floor plan with formal living room situated to the right upon entering home (or enclose it for 4th bedroom/office). The kitchen is beautifully remodeled with state of the art stainless steel appliances and dining area. Continue on to the family room that has built in shelving and wonderful windows overlooking your gorgeous private pool. Brand new sod and sprinklers added to backyard on 11/30/2020. So much to see and appreciate in this home! The neighborhood is ideally located close to Disneyland, Angels’ stadium, The Honda Center, The Grove of Anaheim, schools, shops, restaurants, freeways, and the hiking trails of Anaheim Coves.

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)
  • 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)
  • 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)

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
Juarez Elementary School Primary Regular 730 25 3
Juarez Elementary School Middle Regular 730 25 3
Katella High School High Regular 2,692 92 4

Juarez Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 25
3
GreatSchools Rating

Juarez Elementary School

  • Education Level: Middle
  • # of students: 730
  • # of teachers: 25
3
GreatSchools Rating

Katella High School

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

$719,100$878,900$799,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,948
Property Tax -$821
Property Insurance -$75
Property Management Fees -$144
CASH FLOW
-$1,049

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.

$799,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,737

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $3,217

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9403$3,2004$3,3505$3,600
$3,600
RENT COMPS ANALYSIS
  • 2816 E Virginia Avenue Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $1.47
    •  
  • 2229 E Vermont Avenue Anaheim, CA 1
    • 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1972
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.58
    •  
  • 121 S Plantation Place Anaheim, CA 3
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.46
    •  
  • 2530 E Elsiena Way Anaheim, CA 4
    • 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1974
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.72
    •  
  • 2779 E Vermont Avenue Anaheim, CA 5
    • 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1961
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.69
    •  
PROPERTY LISTING DETAILS
Danielle Ervin
Reliance Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20245649
Last Updated: 12/01/2020
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