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1317 W Fern Drive Fullerton, CA 92833

4 Beds 1 Baths 1,719 sqft Built 1962

$885,000

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $514.83
  • 2 Days on Market
  • MLS # : PW21009993
  • Updated Date : 01/16/2021 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,719 sqft
  • Baths : 1 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

Offered for sale is this beautiful single story, 3 beds (plus den), 2 baths home in the beautiful city of Fullerton. As you approach the home, you'll be captivated by the curb appeal of a newly painted exterior, spacious stone and brick-lined front porch, and elegant front yard landscaping. Continue on to the back yard to find a recently installed pebble tec, heated, saltwater pool, and spa on the almost 10,000 sq. ft. lot making this home an entertainer's dream. As you enter the front door, you'll immediately notice the bright and open living room, that overlooks a separate dining area, with beautiful flooring, a stoned lined fireplace, and tons of natural light. The kitchen overlooks the family room and large back yard and features a center island with seating, a new oven and microwave, and a beverage cooler. Additional features include recessed lighting throughout, newly updated electrical panel, whole house fan, newly installed central air conditioning and heating, and back yard pavers. The home is located near highly rated schools, tons of shopping, and 91, 5, and 57 freeways. Stop by and see for yourself what this home has to offer.

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

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
Fern Drive Elementary School Primary Regular 616 20 6
D. Russell Parks Junior High School Middle Regular 1,050 32 8
Sunny Hills High School High Regular 2,264 78 9

Fern Drive Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 20
6
GreatSchools Rating

D. Russell Parks Junior High School

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

Sunny Hills High School

  • Education Level: High
  • # of students: 2,264
  • # of teachers: 78
9
GreatSchools Rating
 

$796,500$973,500$885,000

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$3,074
Property Tax -$870
Property Insurance -$69
Property Management Fees -$157
CASH FLOW
-$960

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.

$885,000

PROJECTED PRICE

$3,210

PROJECTED RENT

0.36%

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$240,275

INVESTMENT

$240,275

Down Payment
$221,250
Rehab Estimate
$5,750
Closing Costs
$13,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,074

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $221,250
Loan Amount $663,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,601

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $3,253

    COMP ESTIMATED VALUE
  • $1.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0003$3,1004$3,2105$3,695
$3,695
RENT COMPS ANALYSIS
  • 1317 W Fern Drive Fullerton, CA 4
    • 4 beds 1 baths ∙ 1,719 Sqft ∙ Built 1962 4 beds 1 baths ∙ 1,719 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $1.87
    •  
  • 940 N Euclid Street Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1954
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.70
    •  
  • 846 W Glenwood Circle Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1973
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.92
    •  
  • 842 Adlena Drive Fullerton, CA 3
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1958
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.00
    •  
  • 1324 W Valencia Mesa Drive Fullerton, CA 5
    • 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1963
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $1.95
    •  
PROPERTY LISTING DETAILS
Carlos Barron
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21009993
Last Updated: 01/16/2021
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