Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

974 S Prescott Place Anaheim Hills, CA 92808

3 Beds 3 Baths 1,250 sqft Built 1999

$569,900

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $455.92
  • 3 Days on Market
  • MLS # : PW20259981
  • Updated Date : 12/19/2020 at 14:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,250 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Best Realty

Listing Agent's Description

Completely remodeled beautiful gem in the highly desirable Summit Park community in Anaheim Hills features 3 bedrooms, 2.5 bathrooms with two car attached garage. Plenty of natural light glowing through the house. Sunny and cheerful living room with a cozy fireplace is open and bright. Well maintained and newly upgraded interior features beautiful wood floors throughout, designer toned interior paint, and recessed lightings. The living room opens up to a large front patio which extends living space and is perfect for entertaining. The gourmet kitchen features stainless steel appliances with warm wood cabinetry with convenient built-in wine storage. The master bedroom is spacious opens to a large master bathroom with double sinks and mirrored wardrobe doors. Surrounded by plenty of lush landscape and greenery. Enjoy all the amenities of the Summit Park community which includes access to swimming pools/spa, fitness room, club house and playgrounds. Close to freeways, hiking trails, shopping, transportation and great outdoor living. Must See!

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: The Summit of Anaheim Hills

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $230k922k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: The Summit of Anaheim Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $15963818

* 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
Running Springs Elementary School Primary Regular 695 26 8
El Rancho Charter School Middle Charter 1,186 41 9
Canyon High School High Regular 2,338 86 9

Running Springs Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 26
8
GreatSchools Rating

El Rancho Charter School

  • Education Level: Middle
  • # of students: 1,186
  • # of teachers: 41
9
GreatSchools Rating

Canyon High School

  • Education Level: High
  • # of students: 2,338
  • # of teachers: 86
9
GreatSchools Rating
 

$512,910$626,890$569,900

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,103
Property Tax -$544
Property Insurance -$57
HOA -$245
Property Management Fees -$140
CASH FLOW
-$229

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$569,900

PROJECTED PRICE

$2,860

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,774

INVESTMENT

$156,774

Down Payment
$142,475
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,475
Loan Amount $427,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$21,695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $2.29

    LIST RENT PER SQFT
  • $2,591

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5003$2,8604$2,9005$2,950
$2,950
RENT COMPS ANALYSIS
  • 974 S Prescott Place Anaheim Hills, CA 3
    • 3 beds 3 baths ∙ 1,250 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,250 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $2.29
    •  
  • 6221 Hartford Road Yorba Linda, CA 1
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1985 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1985
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.08
    •  
  • 1008 S Country Glen Way Anaheim Hills, CA 2
    • 3 beds 3 baths ∙ 1,171 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,171 Sqft ∙ Built 1991
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.13
    •  
  • 7783 E Portofino Avenue Anaheim Hills, CA 4
    • 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1996
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.13
    •  
  • 7935 E Acorn Court Anaheim Hills, CA 5
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1996
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.95
    •  
PROPERTY LISTING DETAILS
Ethan Baik
Coldwell Banker Best Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20259981
Last Updated: 12/19/2020
BESbswy