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954 N Fern Street Anaheim, CA 92801

4 Beds 2 Baths 1,440 sqft Built 1954

INVESTimate

$690,000

List Price

$2,830

$2,580 - $3,080

Rent Est.

$737,679  ( +6.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1954
  • Price/Sqft : $479.17
  • 9 Days on Market
  • MLS # : OC20169077
  • Updated Date : 08/25/2020 at 16:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,440 sqft
  • Baths : 2 full
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Fully remodeled home with central air and a pool for sale in the city of Anaheim. Conveniently located near the 5 freeway (just far enough to not hear the traffic) and minutes from Disneyland. Just about everything in the property is new and remodeled including the new roof! The remodeled kitchen features new granite counters, solid maple cabinets, accent and recessed lighting, 4 burner gas stove with oven, microwave, and dishwasher. Throughout the house, there are new double pane windows and laminate flooring. The bathrooms have new tile flooring, toilets, sinks, and tubs. The spacious living room features a stone accented fireplace in the corner and plenty of windows to let in natural light as well as recessed lighting for when the sun sets. Both the living room and the master bedroom have new, double pane sliding glass doors that exit to the backyard which features a pool with a spa! Between the pool and the central air, this home is perfect for those hot, Southern California summers!

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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

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
Marshall Elementary School Primary Regular 752 27 3
Brookhurst Junior High School Middle Regular 1,193 45 3
Savanna High School High Regular 2,055 73 3

Marshall Elementary School

  • Education Level: Primary
  • # of students: 752
  • # of teachers: 27
3
GreatSchools Rating

Brookhurst Junior High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 45
3
GreatSchools Rating

Savanna High School

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

$621,000$759,000$690,000

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$2,546
Property Tax -$710
Property Insurance -$62
Property Management Fees -$139
CASH FLOW
-$626

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.

$690,000

PROJECTED PRICE

$2,830

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.91%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,600

INVESTMENT

$188,600

Down Payment
$172,500
Rehab Estimate
$5,750
Closing Costs
$10,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,500
Loan Amount $517,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$10,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $3,100

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8303$2,8954$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 954 N Fern Street Anaheim, 2
    • 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $1.97
    •  
  • 718 N Geneva Street Anaheim, 1
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1955
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.18
    •  
  • 1414 W Frances Drive Anaheim, 3
    • 4 beds 1 baths ∙ 1,313 Sqft ∙ Built 1955 4 beds 1 baths ∙ 1,313 Sqft ∙ Built 1955
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $2.20
    •  
  • 1274 W Claredge Drive Anaheim, 4
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1958
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.06
    •  
  • 1637 W Woodcrest Avenue Fullerton, 5
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1954
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.17
    •  
PROPERTY LISTING DETAILS
Daniel Wu
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20169077
Last Updated: 08/25/2020
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