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2201 Heritage Way Fullerton, CA 92833

3 Beds 2 Baths 1,776 sqft Built 1980

$820,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $461.71
  • 4 Days on Market
  • MLS # : PW21012637
  • Updated Date : 01/21/2021 at 08:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,776 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Whoa! Here's the Coyote Hills single level home you've been waiting for! You'll love the neighborhood and curb appeal of this home. As you enter through the double doors you'll continue to fall in love with the newer wood-look tile floors, dramatic cathedral ceilings, crown molding, heavy beams, abundant windows and airiness of the step down living room and dining room. Following the tiled floors into the kitchen and family room reveals a fireplace, dining bar, vaulted ceiling and access to the back yard. Exiting through the sliding glass doors reveals plenty of patio and covers. Tastefully installed artificial turf, sitting areas and groomed side-yards are surrounded by slump-stone walls. Back into the home through the master bedroom's sliding glass doors you'll note the room offers plenty of size along with a huge walk in closet and master bath with a Roman tub. Wait... where's the pool, playground, clubhouse, basketball court and plenty of grass? It's only steps away and provided by the community, along with meandering walk ways to enjoy throughout the entire well manicured neighborhood. If you don't fall in love with the pictures, you will fall in love when you visit this home. Shopping and restaurants are nearby. Highly rated schools. So much more....

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
Laguna Road Elementary School Primary Regular 674 21 10
Laguna Road Elementary School Middle Regular 674 21 10
Sonora High School High Regular 1,924 67 9

Laguna Road Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 21
10
GreatSchools Rating

Laguna Road Elementary School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 21
10
GreatSchools Rating

Sonora High School

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

$738,000$902,000$820,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,848
Property Tax -$806
Property Insurance -$70
HOA -$130
Property Management Fees -$153
CASH FLOW
-$878

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.

$820,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.38%

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-$15k-$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$223,050

INVESTMENT

$223,050

Down Payment
$205,000
Rehab Estimate
$5,750
Closing Costs
$12,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,848

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $205,000
Loan Amount $615,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,130

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $3,157

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$3,130
1$3,1302$3,2003$3,3004$3,3505$3,450
$3,450
RENT COMPS ANALYSIS
  • 2201 Heritage Way Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $1.76
    •  
  • 2219 Ardemore Drive Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1981
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.83
    •  
  • 2124 Winterwood Drive Fullerton, CA 3
    • 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 1983
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.73
    •  
  • 2218 Heritage Way Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1980
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.89
    •  
  • 2019 Winterwood Drive Fullerton, CA 5
    • 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 1983
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.66
    •  
PROPERTY LISTING DETAILS
Woody Harper
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21012637
Last Updated: 01/21/2021
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