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124 Waldo Avenue Fullerton, CA 92833

3 Beds 2 Baths 1,278 sqft Built 1929

$645,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $504.69
  • 6 Days on Market
  • MLS # : OC21002413
  • Updated Date : 01/07/2021 at 05:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,278 sqft
  • Baths : 2 full
Listing Agent

Surterre Properties Inc

Listing Agent's Description

Conveniently located within minutes from the #5 and #91 freeways this home offers 3 bedrooms and 2 bathrooms updated throughout just 5 years ago. There is a detached 2 car garage with ample storage and plenty of off street parking. Enjoy a gated backyard with covered paver patio. Window AC was replaced approximately 3 years ago, as well as the concrete block wall on both sides of the property line.

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

Zip Code: 92833

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $230k742k

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

Zip Code: 92833

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15703345

* 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
Valencia Park Elementary School Primary Regular 665 31 5
D. Russell Parks Junior High School Middle Regular 1,050 32 8
Buena Park High School High Regular 1,940 68 5

Valencia Park Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 31
5
GreatSchools Rating

D. Russell Parks Junior High School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 32
8
GreatSchools Rating

Buena Park High School

  • Education Level: High
  • # of students: 1,940
  • # of teachers: 68
5
GreatSchools Rating
 

$580,500$709,500$645,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,240
Property Tax -$668
Property Insurance -$56
Property Management Fees -$127
CASH FLOW
-$492

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$645,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$8,698

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $2.15

    LIST RENT PER SQFT
  • $2,820

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,6003$3,0004$3,150
$3,150
RENT COMPS ANALYSIS
  • 124 Waldo Avenue Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1929
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.15
    •  
  • 7432 9th Street Buena Park, CA 1
    • 3 beds 1 baths ∙ 992 Sqft ∙ Built 1946 3 beds 1 baths ∙ 992 Sqft ∙ Built 1946
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.42
    •  
  • 3509 W Flower Avenue Fullerton, CA 3
    • 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1928 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1928
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.31
    •  
  • 8142 Whitaker Street Buena Park, CA 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1948
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.25
    •  
PROPERTY LISTING DETAILS
Sabrina Ulicny
Surterre Properties Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21002413
Last Updated: 01/07/2021
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