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723 S Wasco Road Anaheim, CA 92804

3 Beds 2 Baths 1,359 sqft Built 1956

$675,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $496.69
  • 5 Days on Market
  • MLS # : PW20264162
  • Updated Date : 12/30/2020 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,359 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway H.s.c.p.

Listing Agent's Description

Welcome the New Year in this beautiful Cinderella home in cul-de-sac location. This Single story home offers a great open concept floor plan with hardwood floors throughout, a spacious living and dining combo with cozy fireplace, breakfast nook, central heating and air-conditioning, upgraded kitchen and bathrooms with hand texture concrete flooring, kitchen counter is a custom concrete overlay in beautiful gray color. This home offers an easy direct access to an attached 2 car garage. Living room opens up to an inviting large covered patio, nicely landscaped back yard great for entertaining friends and family with a sparking swimming pool. Front yard offers a manicured desert scape with decomposed granite pathways and low watering maintenance…must see to appreciate.

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
Mattie Lou Maxwell Elementary School Primary Regular 822 31 5
Mattie Lou Maxwell Elementary School Middle Regular 822 31 5
Magnolia High School High Regular 1,813 73 3

Mattie Lou Maxwell Elementary School

  • Education Level: Primary
  • # of students: 822
  • # of teachers: 31
5
GreatSchools Rating

Mattie Lou Maxwell Elementary School

  • Education Level: Middle
  • # of students: 822
  • # of teachers: 31
5
GreatSchools Rating

Magnolia High School

  • Education Level: High
  • # of students: 1,813
  • # of teachers: 73
3
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,490
Property Tax -$668
Property Insurance -$60
Property Management Fees -$142
CASH FLOW
-$470

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.

$675,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.43%

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$19,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $2,633

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,7504$2,8905$2,995
$2,995
RENT COMPS ANALYSIS
  • 723 S Wasco Road Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $2.13
    •  
  • 2803 W Devoy Drive Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1955
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.86
    •  
  • 419 S Gain Street Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1956
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.87
    •  
  • 2500 W Chain Avenue Anaheim, CA 3
    • 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1969
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.03
    •  
  • 228 S Mall Way Anaheim, CA 5
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1955
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.99
    •  
PROPERTY LISTING DETAILS
Loudy Carroll
Berkshire Hathaway H.s.c.p.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20264162
Last Updated: 12/30/2020
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