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2112 Homewood Place Fullerton, CA 92833

3 Beds 3 Baths 1,859 sqft Built 1980

$849,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $456.70
  • 4 Days on Market
  • MLS # : PW21045266
  • Updated Date : 03/05/2021 at 05:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Sunny Hills

Listing Agent's Description

Lovely two story family home in popular Coyote Hills Meadows. Quiet cul-de-sac location with good size driveway. Cathedral ceiling in living room with fireplace and formal dining room plus spacious separate family room. Many fruit trees in backyard. Association pool, spa, basket ball court and play ground. Surrounded by walking trails and walking distance to Ralph Clark Regional Park.

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
D. Russell Parks Junior High School Middle Regular 1,050 32 8
Sonora High School High Regular 1,924 67 9

D. Russell Parks Junior High School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 32
8
GreatSchools Rating

Sonora High School

  • Education Level: High
  • # of students: 1,924
  • # of teachers: 67
9
GreatSchools Rating
 

$764,100$933,900$849,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,949
Property Tax -$835
Property Insurance -$72
HOA -$130
Property Management Fees -$145
CASH FLOW
-$1,180

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.

$849,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.35%

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

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$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,949

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$148

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $2,965

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0003$3,1004$3,1005$3,300
$3,300
RENT COMPS ANALYSIS
  • 2112 Homewood Place Fullerton, CA 1
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.59
    •  
  • 2825 Wisteria Lane Fullerton, CA 2
    • 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1990
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
  • 2366 Applewood Cir Fullerton, CA 3
    • 3 beds 4 baths ∙ 2,040 Sqft ∙ Built 1982 3 beds 4 baths ∙ 2,040 Sqft ∙ Built 1982
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.52
    •  
  • 1928 Celeste Lane Fullerton, CA 4
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 1968
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.53
    •  
  • 2169 Baywood Drive Fullerton, CA 5
    • 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 1981
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.59
    •  
PROPERTY LISTING DETAILS
Joshua Cho
Century 21 Sunny Hills
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21045266
Last Updated: 03/05/2021
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