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1407 W Houston Avenue Fullerton, CA 92833

4 Beds 2 Baths 2,000 sqft Built 1955

$699,900

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $349.95
  • 5 Days on Market
  • MLS # : OC20237349
  • Updated Date : 11/11/2020 at 18:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

Gorgeous single family home in the heart of a beautiful Fullerton neighborhood. Step inside to your stunning remodeled kitchen with stainless steel appliances including a Miele range hood, quartz counter tops, and a large center island perfect for entertaining. The kitchen overlooks the living room with a custom hearth fireplace and recessed lighting. The home features 4 bedrooms and 2 bathrooms, with two of the bedrooms being connected by a jack and jill bathroom. Stepdown into the den area with an additional office space for your workplace needs. Laminate flooring throughout the entire home. The home also features central AC and an upgraded 200amp electrical panel. The 2 car garage features a laundry area and a home charging station for an electric vehicle. The backyard has a covered patio with new cement and plenty of space for outdoor entertaining. Easy access RV parking is available on the side of the property. The exterior of the home has upgraded double pane vinyl windows, newer paint and a composition roof. This spacious home provides plenty of room for entertaining inside and out. Walking distance to Orangethorpe Elementary and very close proximity to shopping centers, making it the perfect location for convenient access to nearby amenities.

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
Orangethorpe Elementary School Primary Regular 708 28 4
Nicolas Junior High School Middle Regular 738 31 4
Sunny Hills High School High Regular 2,264 78 9

Orangethorpe Elementary School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 28
4
GreatSchools Rating

Nicolas Junior High School

  • Education Level: Middle
  • # of students: 738
  • # of teachers: 31
4
GreatSchools Rating

Sunny Hills High School

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

$629,910$769,890$699,900

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,582
Property Tax -$694
Property Insurance -$75
Property Management Fees -$148
CASH FLOW
-$479

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.

$699,900

PROJECTED PRICE

$3,020

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$17,032

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $3,490

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0003$3,0204$3,5005$3,695
$3,695
RENT COMPS ANALYSIS
  • 1407 W Houston Avenue Fullerton, CA 3
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1955 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $1.51
    •  
  • 2206 Carol Drive Fullerton, CA 1
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1955
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.65
    •  
  • 2019 W Roberta Avenue Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1956
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.75
    •  
  • 1216 Eadington Avenue Fullerton, CA 4
    • 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 1966 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 1966
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.63
    •  
  • 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 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $1.95
    •  
PROPERTY LISTING DETAILS
Daniel Titel
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 #: OC20237349
Last Updated: 11/11/2020
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