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2219 Carol Drive Fullerton, CA 92833

3 Beds 2 Baths 1,492 sqft Built 1955

$660,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $442.36
  • 78 Days on Market
  • MLS # : RS20230338
  • Updated Date : 01/16/2021 at 09:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,492 sqft
  • Baths : 2 full
Listing Agent

C-21 Astro

Listing Agent's Description

Pride of ownership! Beautiful upgraded single story home in Fullerton! This 3bed/2 bath home has everything you need and looking for. Bright, clean, and functional design. Move in ready. Master bedroom with master bath. Hugh family room face to the backyard, can be converted to your new remote office or family entertainment space. Wood flooring through out the home, recessed lights, dual pane window and slide doors. Gourmet Kitchen with Granite Countertops, stainless steel appliances and plenty of cabinets. Upgraded bathroom, freshly paints inside and outside. Newly rain gutters. Partial new pipes. Inside laundry and dryer set for your convenient. Spacious backyard for families/friends gathering, or growing healthy fruit trees and vegetables. Nice and roomy front porch for your morning tea or coffee. Additional parking at the front driveway. Convenient access to freeways 5 and 91, Amtrak and metro link stations, park and ride, town center, libraries, schools, shopping centers, and restaurants. Hurry make this gem yours!!

SEE MORE

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

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
 

$594,000$726,000$660,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,292
Property Tax -$649
Property Insurance -$63
Property Management Fees -$140
CASH FLOW
-$294

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.

$660,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.43%

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

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$180,650

INVESTMENT

$180,650

Down Payment
$165,000
Rehab Estimate
$5,750
Closing Costs
$9,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,292

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $165,000
Loan Amount $495,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$21,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $3,096

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,8503$2,9504$3,0005$3,400
$3,400
RENT COMPS ANALYSIS
  • 2219 Carol Drive Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.91
    •  
  • 2455 W Cherry Avenue Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1955
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.15
    •  
  • 1639 W Walnut Avenue Fullerton, CA 3
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.01
    •  
  • 2715 Baycrest Place Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1975
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.01
    •  
  • 2662 Foxborough Place Fullerton, CA 5
    • 4 beds 2 baths ∙ 1,598 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,598 Sqft ∙ Built 1974
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.13
    •  
PROPERTY LISTING DETAILS
Saisamorn Pitavasana
C-21 Astro
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS20230338
Last Updated: 01/16/2021
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