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1479 W Oak Avenue Fullerton, CA 92833

4 Beds 1 Baths 1,642 sqft Built 1956

$675,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $411.08
  • 24 Days on Market
  • MLS # : PW20235834
  • Updated Date : 12/04/2020 at 18:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,642 sqft
  • Baths : 1 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Pride of ownership shows in this well maintained and cared for home. Situated on a tree-lined street, this 4 bedroom home was converted in the 1970s into a 3 bedroom home with a formal dining area and separate family room addition. A skylight added to the center of the home along with sliding patio doors from both the living room and family room allow for natural light and yard views. The attached garage is conveniently accessed via the kitchen for laundry and built in storage features. The master bedroom is privately located on the opposing side of the home from the other bedrooms.

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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
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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,490
Property Tax -$664
Property Insurance -$67
Property Management Fees -$157
CASH FLOW
-$178

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.

$675,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.47%

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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$184,625

INVESTMENT

$184,625

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

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$40,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $3,329

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9503$3,0004$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 1479 W Oak Avenue Fullerton, CA 5
    • 4 beds 1 baths ∙ 1,642 Sqft ∙ Built 1956 4 beds 1 baths ∙ 1,642 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.95
    •  
  • 1520 W Olive Avenue Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1954
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.00
    •  
  • 1639 W Walnut Avenue Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.01
    •  
  • 636 W Ash Avenue Fullerton, CA 3
    • 4 beds 1 baths ∙ 1,452 Sqft ∙ Built 1953 4 beds 1 baths ∙ 1,452 Sqft ∙ Built 1953
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.07
    •  
  • 635 W Elm Avenue Fullerton, CA 4
    • 3 beds 1 baths ∙ 1,476 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,476 Sqft ∙ Built 1953
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.03
    •  
PROPERTY LISTING DETAILS
Michelle Scolaro
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20235834
Last Updated: 12/04/2020
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