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2200 Carol Drive Fullerton, CA 92833

3 Beds 2 Baths 1,196 sqft Built 1955

$650,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $543.48
  • 3 Days on Market
  • MLS # : PW20255214
  • Updated Date : 12/11/2020 at 20:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,196 sqft
  • Baths : 2 full
Listing Agent

Empire Realty Team

Listing Agent's Description

Come take a look at this very cozy and well maintained home here in the heart of Fullerton! This property has been upgraded and kept very clean throughout the years. There are some new upgraded windows and clean laminated flooring throughout most of the home. The kitchen comes with granite countertops and upgraded kitchen cabinets which includes lazy suzan draws. Both the inside and outside of the home were freshly painted not too long ago. If you are looking for ample space to spend your time outside you will not be disappointed as the backyard comes with plenty of shade from the fruit trees and the permitted aluminum patio cover. Driveway provides more than enough space and can fit up to 5 midsize vehicles or an RV. The seller has also installed a security system. Commuting around town is no problem as the 5 and 91 freeways are only 5 minutes away. There are plenty of schools, churches, grocery stores and bakeries that surround the property. Location is definitely a plus here with Downtown Fullerton, Fullerton JC, Cal State Fullerton, Fullerton train station, Police station, Post offices, and even Disneyland only being a 10-15 minute drive away. This home is definitely a gem for any first time home buyer or family that has been looking to move into the City of Fullerton. Come and see for yourself!

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 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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
Pacific Drive Elementary School Primary Regular 611 23 3
Nicolas Junior High School Middle Regular 738 31 4
Buena Park High School High Regular 1,940 68 5

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

Buena Park High School

  • Education Level: High
  • # of students: 1,940
  • # of teachers: 68
5
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,398
Property Tax -$639
Property Insurance -$56
Property Management Fees -$131
CASH FLOW
-$545

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.

$650,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.41%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$10,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $2,685

    COMP ESTIMATED VALUE
  • $2.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6803$2,7004$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2200 Carol Drive Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $2.24
    •  
  • 520 S Courtney Avenue Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1953
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.23
    •  
  • 1018 S Pacific Drive Fullerton, CA 3
    • 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1954
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.25
    •  
  • 612 S Paula Drive Fullerton, CA 4
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1952
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.33
    •  
  • 1637 W Woodcrest Avenue Fullerton, CA 5
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1954
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.17
    •  
PROPERTY LISTING DETAILS
Eddie Villalobos
Empire Realty Team
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20255214
Last Updated: 12/11/2020
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