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2081 Owens Drive Fullerton, CA 92833

3 Beds 3 Baths 1,679 sqft Built 2003

$688,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $409.77
  • 4 Days on Market
  • MLS # : P1-2508
  • Updated Date : 12/03/2020 at 19:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,679 sqft
  • Baths : 2 full , 1 half
Listing Agent

Harriman Realty Group Inc.

Listing Agent's Description

Gorgeous contemporary townhome in the prestigious Amerige Heights offering 3 spacious bedrooms and 3 bathrooms. As you step inside you are greeted with a great open floor plan and high ceilings. Stay and relax in the lovely formal sitting room or go upstairs to the great room consisting of your kitchen, family room and dining room. The space offers a kitchen island perfect for enjoying meals at or conversing with family and friends while preparing dinner. All bedrooms are conveniently located upstairs with brand new carpet. The master bedroom opens into the master bathroom with a spa like appeal. Separate tub and shower and walk in closet included. The community has many amenities including a tennis court, swimming pool, hot tub, green belts and parks galore! The home is within walking distance to the award winning schools. Besides Robert C. Fisler Elementary, and Sunny Hills High School there is also private school; Arborland Education and Youth Activity Center and Arborland Montessori Children's Academy. There is a bridge that conveniently connects you to the Amerige Heights Town Center where you can shop or dine out. This is a home you do not want to miss!

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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

Neighborhood: Amerige Heights

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $230k922k

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

Neighborhood: Amerige Heights

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $15703818

* 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
Robert C. Fisler Elementary School Primary Regular 900 31 10
Robert C. Fisler Elementary School Middle Regular 900 31 10
Sunny Hills High School High Regular 2,264 78 9

Robert C. Fisler Elementary School

  • Education Level: Primary
  • # of students: 900
  • # of teachers: 31
10
GreatSchools Rating

Robert C. Fisler Elementary School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 31
10
GreatSchools Rating

Sunny Hills High School

  • Education Level: High
  • # of students: 2,264
  • # of teachers: 78
9
GreatSchools Rating
 

$619,200$756,800$688,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,538
Property Tax -$677
Property Insurance -$68
HOA -$158
Property Management Fees -$146
CASH FLOW
-$607

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$688,000

PROJECTED PRICE

$2,980

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,070

INVESTMENT

$188,070

Down Payment
$172,000
Rehab Estimate
$5,750
Closing Costs
$10,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,538

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,000
Loan Amount $516,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $3,047

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,980
1$2,9802$3,0003$3,1004$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 2081 Owens Drive Fullerton, CA 1
    • 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.77
    •  
  • 1829 Booth Court Fullerton, CA 2
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2003
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.73
    •  
  • 2110 Arnold Way Fullerton, CA 3
    • 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 2006
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.85
    •  
  • 1327 Hewitt Court Fullerton, CA 4
    • 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2003
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.81
    •  
  • 1811 Beazley Court Fullerton, CA 5
    • 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 2003
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.87
    •  
PROPERTY LISTING DETAILS
Rachel Bratakos
Harriman Realty Group Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2508
Last Updated: 12/03/2020
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