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3311 W Lincoln Avenue #3 Anaheim, CA 92801

3 Beds 3 Baths 1,604 sqft Built 1981

$530,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $330.42
  • 5 Days on Market
  • MLS # : OC20263180
  • Updated Date : 01/02/2021 at 09:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,604 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

A beautiful home in Anaheim features modern designer colors, recessed lighting, upgrade wood plank flooring throughout. The high ceiling and large windows allow an abundance of natural light to illuminate the open floor plan. Enter into the spacious living room with beautiful white brick fireplace and a large sliding glass door that leads to the private backyard patio. Adjacent is the dining area that flows seamlessly into the impressive kitchen. The gourmet kitchen with quartz countertops, full tile backsplash, dark wood cabinetry, stainless steel appliances include single oven gas range, dishwasher, microwave and refrigerator. The upgraded half bath and two car garage with direct access complete the downstairs. Up the wood staircase, you will find the primary bedroom and the bathroom ensuite. This serene bedroom has high ceilings, modern color tones, mirrored closet doors with plenty of space and the ensuite impresses with double sink vanity, sunken tub and separate shower. There are two additional spacious bedrooms with mirrored closets and down the hallway share an upgraded full bathroom. New water heater, A/C unit and inside garage laundry area. Enjoy the quaint complex amenities, close to shopping, dining and parks - this home has it all!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Centralia Elementary School Primary Regular 570 23 5
Centralia Elementary School Middle Regular 570 23 5
Western High School High Regular 2,124 80 4

Centralia Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 23
5
GreatSchools Rating

Centralia Elementary School

  • Education Level: Middle
  • # of students: 570
  • # of teachers: 23
5
GreatSchools Rating

Western High School

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

$477,000$583,000$530,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$1,955
Property Tax -$548
Property Insurance -$66
HOA -$364
Property Management Fees -$131
CASH FLOW
-$385

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.

$530,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.51%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,500
Loan Amount $397,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$11,721

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $2,879

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6803$2,8004$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 3311 W Lincoln Avenue Anaheim, CA 2
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.67
    •  
  • 2681 W Cameron Court Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1980
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.84
    •  
  • 6078 San Rolando Way Buena Park, CA 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1961
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
  • 8707 Walker Street Cypress, CA 4
    • 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1991
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.77
    •  
  • 6510 San Gabriel Circle Buena Park, CA 5
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1970
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.68
    •  
PROPERTY LISTING DETAILS
Susan Karcher
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20263180
Last Updated: 01/02/2021
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