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985 S Clarence Street Anaheim, CA 92806

3 Beds 3 Baths 1,595 sqft Built 1973

$780,000

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $489.03
  • 5 Days on Market
  • MLS # : PW21017432
  • Updated Date : 02/12/2021 at 07:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,595 sqft
  • Baths : 2 full , 1 half
Listing Agent

Greenfield Realty

Listing Agent's Description

THE MOST GORGEOUS, EXTRAVAGANT, BEAUTIFUL HOME ON THE BLOCK!! Minutes to retail stores, restaurants, elementary school, The Islands Golf Center, Anaheim Coves Trail, and freeway.WHAT A GREAT FLOOR PLAN, Expansive grand open space in living room and family room that caters to large family and friends gathering. The best feature is the delighted Chef's kitchen with solid wood white shaker cabinets, crystal white quartz, state of the art stainless steel appliances, elegant backsplash, eloquent pendant lights, and beautiful island. The living room fireplace is updated with exquisite modern tile that is simple yet brings the feel of coziness especially during winter time. Step into the modern ensuite to enjoy the eloquent walk-in shower with distinguished designer tile and classy vanity. One can be rejuvenated in the modern hallway bathroom that is also updated with exquisite design that simple but elegant. Ambient recessed lights and gorgeous modern wood-like flooring throughout. Most impressive is the expansive backyard that offers a beautiful quaint pool, a tranquil spa, refreshing grass area and expansive covered patio. THIS IMMACULATE AND BEAUTIFUL HOME IS ALL ENTERTAINER'S DELIGHT! Put in your offer now!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: East Anaheim

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: East Anaheim

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943345

* 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
South Junior High School Middle Regular 1,558 67 2
Katella High School High Regular 2,692 92 4
South Junior High School Middle Unknown NA

South Junior High School

  • Education Level: Middle
  • # of students: 1,558
  • # of teachers: 67
2
GreatSchools Rating

Katella High School

  • Education Level: High
  • # of students: 2,692
  • # of teachers: 92
4
GreatSchools Rating

South Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$702,000$858,000$780,000

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$2,709
Property Tax -$802
Property Insurance -$66
Property Management Fees -$136
CASH FLOW
-$942

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.

$780,000

PROJECTED PRICE

$2,770

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.1%
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$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,709

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $2,859

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7703$2,7954$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 985 S Clarence Street Anaheim, CA 2
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $1.74
    •  
  • 1216 E Turin Avenue Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1958
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.69
    •  
  • 2232 E North Redwood Drive Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1956
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.81
    •  
  • 2708 E Lizbeth Avenue Anaheim, CA 4
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1962
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.84
    •  
  • 879 S Wayside Street Anaheim, CA 5
    • 4 beds 1 baths ∙ 1,639 Sqft ∙ Built 1959 4 beds 1 baths ∙ 1,639 Sqft ∙ Built 1959
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.83
    •  
PROPERTY LISTING DETAILS
Trang Dang
Greenfield Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21017432
Last Updated: 02/12/2021
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