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1610 E Wilshire Avenue Fullerton, CA 92831

3 Beds 2 Baths 1,567 sqft Built 1963

INVESTimate

$699,000

List Price

$2,780

$2,530 - $3,030

Rent Est.

$741,010  ( +6.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $446.08
  • 7 Days on Market
  • MLS # : OC20170773
  • Updated Date : 08/21/2020 at 08:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,567 sqft
  • Baths : 2 full
Listing Agent

Douglas Elliman Of California

Listing Agent's Description

Move in ready!! Beautifully maintained 3-bedroom, 2-bathroom single story home located on a 9,785 sq. ft. lot. Home offers stylish living in a cozy floor plan of 1,567 sq ft. Nicely sized bedrooms and master en-suite with dual sinks. Home features dual-pain windows, open floor plan with dinning room opening up to family room area for easy entertaining. Family room features wood burning fireplace for those chilly California nights. Direct access to garage. Large backyard with room for entertaining and room to build your dream pool. Close to Cal State Fullerton, Shops, Restaurants, Downtown Fullerton and FWYS. Must See!!

SEE MORE

MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Zip Code: 92831

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 92831

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $16253345

* 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
Commonwealth Elementary School Primary Regular 425 17 3
Ladera Vista Junior High School Middle Magnet 823 34 6
Troy High School High Magnet 2,764 102 10

Commonwealth Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 17
3
GreatSchools Rating

Ladera Vista Junior High School

  • Education Level: Middle
  • # of students: 823
  • # of teachers: 34
6
GreatSchools Rating

Troy High School

  • Education Level: High
  • # of students: 2,764
  • # of teachers: 102
10
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$2,579
Property Tax -$701
Property Insurance -$65
Property Management Fees -$136
CASH FLOW
-$701

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.

$699,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.01%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $2,809

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,780
1$2,7802$2,9803$3,1654$3,2505$3,300
$3,300
RENT COMPS ANALYSIS
  • 1610 E Wilshire Avenue Fullerton, 1
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.77
    •  
  • 1007 Maertin Lane Fullerton, 2
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1955
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.81
    •  
  • 2489 E Commonwealth Avenue Fullerton, 3
    • 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1954
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,165
    • $1.76
    •  
  • 2533 W Wallace Avenue Fullerton, 4
    • 4 beds 2 baths ∙ 1,741 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,741 Sqft ∙ Built 1956
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.87
    •  
  • 1233 Riedel Avenue Fullerton, 5
    • 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1956
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.73
    •  
PROPERTY LISTING DETAILS
Juanita Inzunza
Douglas Elliman Of California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20170773
Last Updated: 08/21/2020
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