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230 N Harrington Drive Fullerton, CA 92831

3 Beds 2 Baths 1,418 sqft Built 1954

$710,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $500.71
  • 8 Days on Market
  • MLS # : PW20220715
  • Updated Date : 10/30/2020 at 08:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,418 sqft
  • Baths : 2 full
Listing Agent

California Capital Resources

Listing Agent's Description

***More Photos to come*** This lovely single story 3 bedroom, 1.75 bath home is move in ready and on a cut-de-sac! Kitchen features direct access to 2 car attached garage and is open to the very bright living room which features a cozy fireplace and direct access to back yard. Spacious family room is perfect for entertaining and also provides direct access to the backyard. The home offers a master suite with large closet & attached bathroom, large hall bathroom has tub/shower combo. he family room, formal living room, & master suite take you to the spacious private backyard with large covered patio & mature orange tree. Backyard features tall wall surround; providing excellent privacy and lots of room for entertaining and play. Three oversized sliding glass doors from tTree lined street adds to the charm & curb appeal of this special home.

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
Commonwealth Elementary School Primary Regular 425 17 3
Ladera Vista Junior High School Middle Magnet 823 34 6
Troy High School High Magnet 2,764 102 10

Commonwealth Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 17
3
GreatSchools Rating

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
 

$639,000$781,000$710,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,620
Property Tax -$722
Property Insurance -$61
Property Management Fees -$135
CASH FLOW
-$778

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.

$710,000

PROJECTED PRICE

$2,760

PROJECTED RENT

0.39%

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

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$193,900

INVESTMENT

$193,900

Down Payment
$177,500
Rehab Estimate
$5,750
Closing Costs
$10,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $177,500
Loan Amount $532,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,700

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $2,797

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,760
1$2,7602$2,9003$2,9804$3,1505$3,400
$3,400
RENT COMPS ANALYSIS
  • 230 N Harrington Drive Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $1.95
    •  
  • 1425 Sudene Avenue Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1954
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.98
    •  
  • 1625 Riverside Drive Fullerton, CA 3
    • 4 beds 2 baths ∙ 1,513 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,513 Sqft ∙ Built 1955
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.97
    •  
  • 2513 E Santa Fe Avenue Fullerton, CA 4
    • 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1961
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.98
    •  
  • 1231 N Acacia Avenue Fullerton, CA 5
    • 4 beds 3 baths ∙ 1,736 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,736 Sqft ∙ Built 1954
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.96
    •  
PROPERTY LISTING DETAILS
Mary Murphy
California Capital Resources
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20220715
Last Updated: 10/30/2020
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