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1431 W Gage Avenue Fullerton, CA 92833

3 Beds 1 Baths 1,099 sqft Built 1954

$624,900

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $568.61
  • 4 Days on Market
  • MLS # : PW20239551
  • Updated Date : 11/20/2020 at 08:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,099 sqft
  • Baths : 1 full
Listing Agent

Ricci Realty

Listing Agent's Description

This charming mid-century home has been meticulously maintained inside and out with pride of ownership, great curb appeal, manicured yards, quiet interior location, spacious living room, crown moulding, newer baseboards and interior doors thruout, kitchen has granite and butcher block countertops, stainless steel dishwasher and range/cooktop, ceramic tile floor, bathroom has tub/shower, newer vanity and light fixture, ceramic tile floor, ceiling fans thruout, A/C, master has mirrored wardrobe doors, enclosed back patio, inviting backyard has orange and lime trees, play area and grassy yard that makes it perfect for family fun! This is a must-see and won't last long!

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
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
 

$562,410$687,390$624,900

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$2,306
Property Tax -$619
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$677

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.

$624,900

PROJECTED PRICE

$2,420

PROJECTED RENT

0.39%

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

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$171,349

INVESTMENT

$171,349

Down Payment
$156,225
Rehab Estimate
$5,750
Closing Costs
$9,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,225
Loan Amount $468,675
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $2,456

    COMP ESTIMATED VALUE
  • $2.24

    COMP AVG. RENT PER SQFT
Comps Range
$2,420
1$2,4202$2,7003$2,9004$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 1431 W Gage Avenue Fullerton, CA 1
    • 3 beds 1 baths ∙ 1,099 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,099 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $2.20
    •  
  • 1018 S Pacific Drive Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1954
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.25
    •  
  • 1431 W Olive Avenue Fullerton, CA 3
    • 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1957
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.27
    •  
  • 1501 S Pacific Drive Fullerton, CA 4
    • 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1954
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.25
    •  
  • 1637 W Woodcrest Avenue Fullerton, CA 5
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1954
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.17
    •  
PROPERTY LISTING DETAILS
Mary Noguera
Ricci Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20239551
Last Updated: 11/20/2020
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