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803 S Bruce Street Anaheim, CA 92804

4 Beds 1 Baths 1,215 sqft Built 1956

$649,900

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $534.90
  • 5 Days on Market
  • MLS # : OC21017522
  • Updated Date : 01/30/2021 at 09:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,215 sqft
  • Baths : 1 full
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

OPPORTUNITY KNOCKS! This is the lowest-priced 4 bedroom home in Anaheim with a corner lot location. Yes, it needs updating, but yes there is potential to add value and earn instant equity. This home has an excellent location, excellent floorplan, and a large lot with RV/boat access. The living and dining areas are located just off the kitchen, making it easy to open up the floorplan to create a greatroom concept. The bedroom wing is separate from the living area. The back yard features a large, covered patio, grass area, versatile sport court/additional parking area, and several mature fruit trees. Located within close proximity to freeways, restaurants, shopping, and Beach Blvd.

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
Dale Junior High School Middle Regular 1,180 48 3
Magnolia High School High Regular 1,813 73 3

Dale Junior High School

  • Education Level: Middle
  • # of students: 1,180
  • # of teachers: 48
3
GreatSchools Rating

Magnolia High School

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

$584,910$714,890$649,900

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 -$2,257
Property Tax -$657
Property Insurance -$56
Property Management Fees -$131
CASH FLOW
-$422

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.

$649,900

PROJECTED PRICE

$2,680

PROJECTED RENT

0.41%

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$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$15,341

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
  • $2.21

    LIST RENT PER SQFT
  • $2,384

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,6804$2,7505$2,995
$2,995
RENT COMPS ANALYSIS
  • 803 S Bruce Street Anaheim, CA 3
    • 4 beds 1 baths ∙ 1,215 Sqft ∙ Built 1956 4 beds 1 baths ∙ 1,215 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $2.21
    •  
  • 1250 S Brookhurst Street Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1971
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.96
    •  
  • 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 4
    • 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
Bill Caiazzo
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21017522
Last Updated: 01/30/2021
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