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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $346.09
- 3 Days on Market
- MLS # : PW20260165
- Updated Date : 12/18/2020 at 18:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,777 sqft
- Baths : 2 full
Listing Agent
Credent Real Estate
Listing Agent's Description
End Unit. Amerige Heights Community. This 3 story unit has all Living space is at one level. There is dumbwaiter to bring up groceries from the garage area to the main floor. Upgraded Kitchen and bathroom. Cleaned ready for move in immediately! An emergency exit off of the kitchen (which may also serve for moving heavy furniture and appliances in and out of the property). Side by Side laundry area near kitchen. Walking Distance to Robert C. Fisler Elementary (K-8). Community features many amenities including pool, spa, clubhouse, tennis courts, children's playground area. This wonderfully located unity will not last long.
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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: Amerige Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Amerige Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,010 |
| EXPENSES | Loan Payment | -$2,269 |
| Property Tax | -$605 | |
| Property Insurance | -$70 | |
| HOA | -$158 | |
| Property Management Fees | -$147 | |
|
CASH FLOW
-$239
|
||
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.
$615,000
PROJECTED PRICE
$3,010
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.81% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$168,725
LOAN DETAILS
$2,269
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $153,750 |
| Loan Amount | $461,250 |
3.67
YEARS SAVED
$24,923
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,010
LIST RENT -
$1.69
LIST RENT PER SQFT
-
$3,181
COMP ESTIMATED VALUE -
$1.79
COMP AVG. RENT PER SQFT
Comps Range
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1133 Armstrong Drive Fullerton, CA 3
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- Rent
- Rent Per SQFT
- $3,010
- $1.69
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1128 Armstrong Drive Fullerton, CA 1
- 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2003
LEASED 07/18/20- Rent
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- $3,000
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- 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2003
LEASED 01/21/20- Rent
- Rent Per SQFT
- $3,000
- $1.73
-
2110 Arnold Way Fullerton, CA 4
- 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 2006
LEASED 08/10/20- Rent
- Rent Per SQFT
- $3,100
- $1.85
-
1327 Hewitt Court Fullerton, CA 5
- 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2003
LEASED 07/25/20- Rent
- Rent Per SQFT
- $3,400
- $1.81
PROPERTY LISTING DETAILS
Credent Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20260165
Last Updated: 12/18/2020
