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3262 W Ravenswood Drive Anaheim, CA 92804

3 Beds 2 Baths 1,905 sqft Built 1956

$775,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $406.82
  • 4 Days on Market
  • MLS # : OC20238216
  • Updated Date : 11/14/2020 at 12:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,905 sqft
  • Baths : 2 full
Listing Agent

Lpc Financial, Inc.

Listing Agent's Description

Welcome your family to a cozy one-story home located in a desirable Anaheim city. This spacious home is very well maintained and shows pride of ownership. It features 3 bedrooms & 2 bathroom with highly upgraded features throughout the house. The entire home received new wood flooring, carpet, recessed lighting, crown molding, A/C unit & interior paint. Fully automated smart home features included are a Ring security system, Security Cameras all around, and Wifi light switches throughout. Newly renovated family bathroom and recently upgraded kitchen boasts beautiful white cabinet that blends in very well with white quartz countertop and stainless-steel appliances. A large master bedroom with over-sized walk-in closet. Huge master bathroom is upgraded with jetted tub and walk-in shower. A well maintained palm tree surrounded pool comes with a new pool pump. This house also includes a Solar System that will be paid off when the house is delivered to the new Owner. There are tons of extras and is a MUST SEE! DON’T MISS OUT ON THIS BEAUTIFUL HOUSE!!!!

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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
Hansen Elementary School Primary Regular 782 33 5
Hansen Elementary School Middle Regular 782 33 5
Western High School High Regular 2,124 80 4

Hansen Elementary School

  • Education Level: Primary
  • # of students: 782
  • # of teachers: 33
5
GreatSchools Rating

Hansen Elementary School

  • Education Level: Middle
  • # of students: 782
  • # of teachers: 33
5
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,124
  • # of teachers: 80
4
GreatSchools Rating
 

$697,500$852,500$775,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$2,859
Property Tax -$794
Property Insurance -$73
Property Management Fees -$145
CASH FLOW
-$912

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.

$775,000

PROJECTED PRICE

$2,960

PROJECTED RENT

0.38%

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$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,859

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $3,315

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8003$2,9604$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 3262 W Ravenswood Drive Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $1.55
    •  
  • 10624 Ramblewood Drive Stanton, CA 1
    • 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 1959
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.68
    •  
  • 10110 Holder Street Buena Park, CA 2
    • 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1958
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.62
    •  
  • 3143 W Paso Robles Drive Anaheim, CA 4
    • 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 1956 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 1956
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.88
    •  
  • 2951 W Orange Avenue Anaheim, CA 5
    • 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 1956 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 1956
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.78
    •  
PROPERTY LISTING DETAILS
Tranchau Bui
Lpc Financial, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20238216
Last Updated: 11/14/2020
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