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PROPERTY INFO
FACTS
- Single Family
- Built In 1957
- Price/Sqft : $526.11
- 4 Days on Market
- MLS # : PW21028753
- Updated Date : 02/11/2021 at 12:59
CONSTRUCTION
- Beds : 3
- Floor Size : 1,283 sqft
- Baths : 2 full
Listing Agent
Era North Orange County
Listing Agent's Description
Charming SINGLE STORY home on a quiet cul-de-sac in Fullerton! This home which features 2 car garage with long driveway for extra parking and an open layout with beautiful original hardwood flooring! Large kitchen features gas cooktop, double oven, granite counter tops, and breakfast nook. Spacious family room that features tons of natural lighting, skylights, beautiful fireplace, and direct access to the covered porch and backyard. This backyard is perfect for your next BBQ! Backyard includes porch, greenspace and mature landscaping. Located close to Chapman Park, in Fullerton Joint School District, Cal State Fullerton, Fullerton College, shopping, restaurants, and entertainment. Come view this charming home and make it yours today!
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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: 92831
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92831
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,550 |
| EXPENSES | Loan Payment | -$2,345 |
| Property Tax | -$677 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$125 | |
|
CASH FLOW
-$655
|
||
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
$2,550
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 6.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$184,625
LOAN DETAILS
$2,345
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $168,750 |
| Loan Amount | $506,250 |
1.25
YEARS SAVED
$3,959
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,550
LIST RENT -
$1.99
LIST RENT PER SQFT
-
$2,547
COMP ESTIMATED VALUE -
$1.98
COMP AVG. RENT PER SQFT
Comps Range
-
207 Santa Clara Place Fullerton, CA 2
- 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1957
- Rent
- Rent Per SQFT
- $2,550
- $1.99
-
124 N Janet Place Fullerton, CA 1
- 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1961
LEASED 07/29/20- Rent
- Rent Per SQFT
- $2,100
- $2.00
-
1425 Sudene Avenue Fullerton, CA 3
- 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1954
LEASED 09/22/20- Rent
- Rent Per SQFT
- $2,900
- $1.98
-
1610 E Wilshire Avenue Fullerton, CA 4
- 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1963
LEASED 11/20/20- Rent
- Rent Per SQFT
- $3,100
- $1.98
-
2513 E Santa Fe Avenue Fullerton, CA 5
- 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1961
LEASED 06/20/20- Rent
- Rent Per SQFT
- $3,150
- $1.98
PROPERTY LISTING DETAILS
Era North Orange County
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21028753
Last Updated: 02/11/2021
