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831 N Modena Street Anaheim, CA 92801

3 Beds 2 Baths 1,293 sqft Built 1955

$729,900

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $564.50
  • 2 Days on Market
  • MLS # : PW21010272
  • Updated Date : 01/16/2021 at 12:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,293 sqft
  • Baths : 2 full
Listing Agent

Golden Land Homes, Inc.

Listing Agent's Description

BEAUTIFUL OPEN FLOORPLAN, HIGH CEILING LIKE A NEW HOME FOR READY TO MOVE IN: Home owner will owned a large SOLAR SYSTEM ( Paid off) New roofs, new stucco, new A/C unit . Home installed with new insulations, drywalls on the ceiling and walls. NEW: Garage door with auto opener, new interior doors, exterior doors and sliding door. HIGH END water proof flooring thru out the house. High quality kitchen cabinets, quartz counter top , stainless steel appliances. New design for the bathrooms....

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Dr. Peter Marshall Elementary School Primary Regular 657 24 8
Dr. Peter Marshall Elementary School Middle Regular 657 24 8
Savanna High School High Regular 2,055 73 3

Dr. Peter Marshall Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 24
8
GreatSchools Rating

Dr. Peter Marshall Elementary School

  • Education Level: Middle
  • # of students: 657
  • # of teachers: 24
8
GreatSchools Rating

Savanna High School

  • Education Level: High
  • # of students: 2,055
  • # of teachers: 73
3
GreatSchools Rating
 

$656,910$802,890$729,900

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,535
Property Tax -$738
Property Insurance -$58
Property Management Fees -$126
CASH FLOW
-$878

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.

$729,900

PROJECTED PRICE

$2,580

PROJECTED RENT

0.35%

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

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$199,174

INVESTMENT

$199,174

Down Payment
$182,475
Rehab Estimate
$5,750
Closing Costs
$10,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,535

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,475
Loan Amount $547,425
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,634

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $2,589

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5803$2,6004$2,7505$3,000
$3,000
RENT COMPS ANALYSIS
  • 831 N Modena Street Anaheim, CA 2
    • 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $2.00
    •  
  • 1345 N Ferndale Street Anaheim, CA 1
    • 4 beds 2 baths ∙ 1,307 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,307 Sqft ∙ Built 1954
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.91
    •  
  • 8211 Hickory Drive Buena Park, CA 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1955
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
  • 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
    •  
  • 926 N Cavon Place Anaheim, CA 5
    • 4 beds 2 baths ∙ 1,447 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,447 Sqft ∙ Built 1956
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.07
    •  
PROPERTY LISTING DETAILS
Oanh Nguyen
Golden Land Homes, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21010272
Last Updated: 01/16/2021
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