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307 E Alberta Street Anaheim, CA 92805

3 Beds 2 Baths 1,238 sqft Built 1929

INVESTimate

$590,000

List Price

$2,290

$2,061 - $2,519

Rent Est.

$632,362  ( +7.18%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1929
  • Price/Sqft : $476.58
  • 9 Days on Market
  • MLS # : CV20164963
  • Updated Date : 08/20/2020 at 12:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,238 sqft
  • Baths : 2 full
Listing Agent

Complete Home Realty

Listing Agent's Description

This home is a Turn key property. Perfect to start a new family. This charming historic 1920's offers a 3 bedroom, 2 bath home and has been completely renovated from inside and out! The home has a desirable open floor plan as you enter the home. Contracting form has completely rewired entire home with electric car hook up. All new plumbing of both water and gas lines. Brand new central heat and air conditioning which is hard to find in homes built in the 1920's. The interior has been completely remodeled top to bottom. New kitchen, new bathrooms, new windows, new flooring, recessed lighting and fixtures as well as new window blinds throughout. All new landscaping and a new patio and cover to accommodate the family gathering. This home is ready to move in. Perfect for the first time home buyer or those that don't want to deal with remodeling. ***THIS HOME WILL NOT LAST. SHOWING BY APPOINTMENT ONLY DUE TO NEW COVID REGULATIONS.*** ****PLEASE DO NOT SHOW UP TO THE PROPERTY UNLESS THE APPOINTMENT HAS BEEN CONFIRMED*** ***PLEASE CONTACT LISTING AGENT FOR ACCESS.***

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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: The Colony

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $199k742k

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

Neighborhood: The Colony

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14693345

* 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
Mann Elementary School Primary Regular 1,062 37 3
Mann Elementary School Middle Regular 1,062 37 3
Anaheim High School High Regular 3,206 130 4

Mann Elementary School

  • Education Level: Primary
  • # of students: 1,062
  • # of teachers: 37
3
GreatSchools Rating

Mann Elementary School

  • Education Level: Middle
  • # of students: 1,062
  • # of teachers: 37
3
GreatSchools Rating

Anaheim High School

  • Education Level: High
  • # of students: 3,206
  • # of teachers: 130
4
GreatSchools Rating
 

$531,000$649,000$590,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$2,177
Property Tax -$617
Property Insurance -$57
Property Management Fees -$112
CASH FLOW
-$673

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.

$590,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.18%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $2,497

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,5903$2,6004$2,800
$2,800
RENT COMPS ANALYSIS
  • 307 E Alberta Street Anaheim, 1
    • 3 beds 2 baths ∙ 1,238 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,238 Sqft ∙ Built 1929
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.85
    •  
  • 413 S Illinois St Anaheim, 2
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1931
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $2.18
    •  
  • 240 N Philadelphia Street Anaheim, 3
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1912 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1912
    property image
    LEASED 05/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.08
    •  
  • 213 W Elm Street Anaheim, 4
    • 3 beds 3 baths ∙ 1,563 Sqft ∙ Built 1928 3 beds 3 baths ∙ 1,563 Sqft ∙ Built 1928
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.79
    •  
PROPERTY LISTING DETAILS
Marisela Gomez
Complete Home Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20164963
Last Updated: 08/20/2020
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