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1467 W Oak Avenue Fullerton, CA 92833

3 Beds 2 Baths 1,273 sqft Built 1955

$649,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $509.82
  • 6 Days on Market
  • MLS # : PW21027443
  • Updated Date : 02/16/2021 at 20:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,273 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Tucked away in a highly sought-after neighborhood of Fullerton. This single level home is perfect for the growing family or if you are looking to downsize from a two-story home. Upgraded through with new dual pane windows, LED recessed lighting, wood laminate floors with based boards, water Heather, garage door opener, and with open floor plan it allows you to entertain and create memories with friends and family. The updated kitchen comes with Quartz countertops, bright white cabinetry, stainless steel appliances, and lots of natural light. 3 large bedrooms and 2 bathrooms one of those upgraded with new vanity, anti-fog mirror, and walking shower. 2 car direct garage access and an individual laundry-room which is rare for homes built in this era. The backyard comes with plenty of room to grow, fruit trees, and is quiet and peaceful. Sitting on a picturesque Tree-lined street and Conveniently located to highly rated Sunny Hills high school, downtown Fullerton’s restaurants, shopping, and entertainment, and freeway access with easy commutes to Los Angeles and Orange County. Come see this home before it is gone.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Nicolas Junior High School Middle Regular 738 31 4
Sunny Hills High School High Regular 2,264 78 9

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
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,254
Property Tax -$638
Property Insurance -$58
Property Management Fees -$137
CASH FLOW
-$288

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.

$649,000

PROJECTED PRICE

$2,800

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$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$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$21,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $2,813

    COMP ESTIMATED VALUE
  • $2.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$2,9004$2,9505$2,950
$2,950
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
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.20
    •  
  • 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
    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
    •  
  • 509 S Woods Avenue Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1956
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.07
    •  
  • 1501 S Pacific Drive Fullerton, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Frank Del Rio
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21027443
Last Updated: 02/16/2021
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