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500 N Rio Vista Street #A Anaheim, CA 92806

3 Beds 2 Baths 1,211 sqft Built 1971

$509,900

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $421.06
  • 4 Days on Market
  • MLS # : OC20238816
  • Updated Date : 11/13/2020 at 13:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,211 sqft
  • Baths : 2 full
Listing Agent

Pacific Blue Realty, Inc.

Listing Agent's Description

End Unit !This beautiful 3 bedroom, 2 bathroom SINGLE STORY home is Turnkey ! Located in the highly sought after community of Suburbia, known for its beautiful tree-lined landscape, this home is an end unit with no neighbors to one side offering plenty of extra space and privacy. Low HOA!Inside you will find a formal entry way, and formal dining room. The kitchen boasts stone counter tops, custom cabinetry, plenty of counter space, recessed lighting, self-closing drawers, pull-out shelving, built-in spice rack, plus a breakfast bar ! The family room / great room is huge, perfect for gatherings; in addition, the new vinyl sliding glass door opens to the private backyard perfect for in indoor / outdoor feel. The backyard has been wonderfully maintained with beautiful, low - maintenance landscape. The master bedroom is oversized, and features a large walk-in closet, high ceilings, ceiling fan, plenty of storage space, and master bathroom. The second and third bedrooms are very large, light and bright ! Each room boasts new dual pane windows, custom plantation shutters, crown moulding, custom wood flooring, and plenty of closet space ! The direct 2-car garage has full laundry hookups including both electric & gas connections; in addition, built in storage cabinets and newer water heater.

SEE MORE

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: 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
Rio Vista Elementary School Primary Regular 915 31 5
Valadez Middle School Academy Middle Regular 694 29 4
Valencia High School High Magnet 2,740 100 9

Rio Vista Elementary School

  • Education Level: Primary
  • # of students: 915
  • # of teachers: 31
5
GreatSchools Rating

Valadez Middle School Academy

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 29
4
GreatSchools Rating

Valencia High School

  • Education Level: High
  • # of students: 2,740
  • # of teachers: 100
9
GreatSchools Rating
 

$458,910$560,890$509,900

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,881
Property Tax -$503
Property Insurance -$56
HOA -$311
Property Management Fees -$115
CASH FLOW
-$526

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.

$509,900

PROJECTED PRICE

$2,340

PROJECTED RENT

0.46%

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$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

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$140,874

INVESTMENT

$140,874

Down Payment
$127,475
Rehab Estimate
$5,750
Closing Costs
$7,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,881

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,475
Loan Amount $382,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $1.93

    LIST RENT PER SQFT
  • $2,361

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3403$2,7504$2,7955$2,800
$2,800
RENT COMPS ANALYSIS
  • 500 N Rio Vista Street Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.93
    •  
  • 969 Eastwind Drive Placentia, CA 1
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1972
    property image
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.01
    •  
  • 141 S Beth Circle Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1969
    property image
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.98
    •  
  • 2232 E North Redwood Drive Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1956
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.81
    •  
  • 613 S Wayside Street Anaheim, CA 5
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.00
    •  
PROPERTY LISTING DETAILS
Michael Miller
Pacific Blue Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20238816
Last Updated: 11/13/2020
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