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1467 W Oak Avenue Fullerton, CA 92833

3 Beds 2 Baths 1,273 sqft Built 1955

$674,990

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $530.24
  • 7 Days on Market
  • MLS # : PW20226027
  • Updated Date : 11/01/2020 at 13:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,273 sqft
  • Baths : 2 full
Listing Agent

Century 21 Astro

Listing Agent's Description

BEAUTIFUL and a QUIET SINGLE-STORY home located in a neighborhood in Fullerton, Sunny Hills High School district. THREE BEDROOMS home that includes en-suite plus a dressing room in the master bedroom. The additional two bedrooms have a shared bathroom with a dressing area. The living room contains a homely fireplace with direct access to an enclosed patio. The kitchen completely remodeled, and brand-new windows were installed in less than a month. New water heater and garage door installed in less than a year. Oversized windows allow sunlight with a breakfast bar overlooking the pleasant living room. Showcasing the large storage space in the enclosed patio and laundry room with a sink. This house includes a 2-car garage with direct access to the laundry room. Backyard has fruit trees and fertile land with the opportunity to grow more No HOA or Mello-Ross. Make it on this wonderful opportunity!

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
Pacific Drive Elementary School Primary Regular 611 23 3
Nicolas Junior High School Middle Regular 738 31 4
Sunny Hills High School High Regular 2,264 78 9

Pacific Drive Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 23
3
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
 

$607,491$742,489$674,990

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,490
Property Tax -$664
Property Insurance -$58
Property Management Fees -$140
CASH FLOW
-$502

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.

$674,990

PROJECTED PRICE

$2,850

PROJECTED RENT

0.42%

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$20k

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$184,622

INVESTMENT

$184,622

Down Payment
$168,748
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,748
Loan Amount $506,243
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $2,861

    COMP ESTIMATED VALUE
  • $2.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8503$2,9004$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1467 W Oak Avenue Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.24
    •  
  • 1018 S Pacific Drive Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1954
    property image
    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
    property image
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.27
    •  
  • 413 N Michael Avenue Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1954
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.30
    •  
  • 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
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.17
    •  
PROPERTY LISTING DETAILS
Chandra Siwakoti
Century 21 Astro
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20226027
Last Updated: 11/01/2020
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