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2206 Virginia Road Fullerton, CA 92831

3 Beds 2 Baths 2,007 sqft Built 1960

$850,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $423.52
  • 7 Days on Market
  • MLS # : DW21025921
  • Updated Date : 02/10/2021 at 21:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,007 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Talk about Prime Desired Location! Welcome home to this Fullerton hard to find home that has been family owned & hasn't been on the market in Over 50yrs! Located in the prestigious Fullerton University area & IN HIGHLY SOUGHT NATIONWIDE TOP RANKED TROY TECH HIGH SCHOOL DISTRICT! This charming home is the perfect canvas for its future owners! Featuring 3 generous sized Bedrooms, one of which is a MASTER BEDROOM with EN-SUITE private bath. You will fall in love with the SPACIOUS perfect open floor, which consists of a formal living room with plenty of windows for plenty of natural serine lighting and is conveniently near to formal dining area/kitchen and has easy access to ADDITIONAL PERMITTED DEN with fireplace AND AS WELL GIVES DESIRABLE EASY ACCESS TO BACKYARD. Backyard is HUGE, LUSH and Adorned with a HASS AVOCADO TREE, with PLENTY OF POTENTIAL for a pool, ADU & children, pets or entertaining! Also featuring direct access to a 2 car garage WITH NEW DOOR, 2 DUAL FIREPLACES, Newer stove top and is ready for its new buyers to just put their personal touches to boast pride of ownership! Located in friendly neighborhood, WITHIN MINS FROM ALL SCHOOLS, Brea Mall, Shopping Centers, ALL AGE FRIENDLY FAMOUS ACAIA PARK, Downtown Fullerton and all top amenities Fullerton has to offer with easy access to commuting! Come see this rare wonderful opportunity FULL OF ENDLESS POTENTIAL before it's too late!

SEE MORE

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

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

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

Zip Code: 92831

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $16253345

* 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
Ladera Vista Junior High School Middle Magnet 823 34 6
Troy High School High Magnet 2,764 102 10

Ladera Vista Junior High School

  • Education Level: Middle
  • # of students: 823
  • # of teachers: 34
6
GreatSchools Rating

Troy High School

  • Education Level: High
  • # of students: 2,764
  • # of teachers: 102
10
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,952
Property Tax -$822
Property Insurance -$76
Property Management Fees -$159
CASH FLOW
-$759

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.

$850,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$7,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $3,492

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,2504$3,3005$3,800
$3,800
RENT COMPS ANALYSIS
  • 2206 Virginia Road Fullerton, CA 3
    • 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.62
    •  
  • 624 Maertin Lane Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1955
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.68
    •  
  • 2036 Vista Del Rosa Fullerton, CA 2
    • 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1974
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.62
    •  
  • 1233 Riedel Avenue Fullerton, CA 4
    • 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1956
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.73
    •  
  • 1930 Alto Lane Fullerton, CA 5
    • 3 beds 2 baths ∙ 1,969 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,969 Sqft ∙ Built 1974
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.93
    •  
PROPERTY LISTING DETAILS
Marilyn Martinez
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21025921
Last Updated: 02/10/2021
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