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2909 W Elmlawn Drive Anaheim, CA 92804

3 Beds 1 Baths 1,296 sqft Built 1955

$699,900

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $540.05
  • 3 Days on Market
  • MLS # : OC21014904
  • Updated Date : 01/22/2021 at 18:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,296 sqft
  • Baths : 1 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Welcome Home! This charming and very very well kept home , is one you dont want to miss. Instead of using a bunch of fancy words to describe this meticulously maintained home , I ll get right to all the wonder features. Dual pane windows, 2 bay windows, 6 panel doors, roof is 4 years new, Windsor one fascia, newer stucco, newer slate accents, paver sidewalk with large patio and side yard, newer concrete driveway, vinyl fence and wall topper, dg ground cover around perimeter, hardscape with planters, automatic sprinklers, 15'x25' trex deck, 14' power awning over rear deck, metal pergola with power and fire pit table, large 8x8 rubbermaid shed, newer 1" water main, house is replumbed with copper, natural gas plumbed for bbq grill, exterior outlets, 8 security cameras, added insulation in attic, central heat and air, kitchen remodeled with hickory cabinets and granite tile counters, newer stainless appliances, bathrooms recently remodeled, master has new shower door, new valve and tile floor, there are hardwood floors under the carpet, they would need refinished,new garage door opener with battery backup and keypad, RV parking for 30', Baden Powell elementary 4 blocks away, Dale jr high- newly remodeled- 4 blocks away, Magnolia high school, very large REED Avocado tree in backyard, key lime tree, several colors of Plumeria trees. You better hurry , this one truly wont last 5 miles to Disneyland, 2 miles to Knotts, 3 miles to the 5/91, 3 miles to the 22, and 5 miles to the 405

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
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
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,431
Property Tax -$692
Property Insurance -$58
Property Management Fees -$124
CASH FLOW
-$766

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.

$699,900

PROJECTED PRICE

$2,540

PROJECTED RENT

0.36%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $2,718

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5403$2,7504$2,8005$2,995
$2,995
RENT COMPS ANALYSIS
  • 2909 W Elmlawn Drive Anaheim, CA 2
    • 3 beds 1 baths ∙ 1,296 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,296 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.96
    •  
  • 10421 Scripps Way Stanton, CA 1
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1971
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.01
    •  
  • 3122 W Maywood Avenue Anaheim, CA 3
    • 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
Dave Troutt
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21014904
Last Updated: 01/22/2021
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