Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2537 W Cherry Avenue Fullerton, CA 92833

4 Beds 1 Baths 1,175 sqft Built 1955

$575,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $489.36
  • 4 Days on Market
  • MLS # : SB20233857
  • Updated Date : 11/07/2020 at 20:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,175 sqft
  • Baths : 1 full
Listing Agent

Vista Sotheby’s International Realty

Listing Agent's Description

This single family home on a quiet, tree-lined street has received a complete refresh. It's a light & bright 4 bedroom, 2 bathroom with large backyard and huge driveway for extra parking. The interior has been completely painted. The kitchen boasts brand new quartz counter tops and backsplash, brand new stainless steel appliances, brand new sink, faucet, and garbage disposal. The cabinets have been renewed with a fresh coat of paint and new cabinet pulls. The full bathroom has new tiling in the shower, and new vanity. Both bathrooms have brand new medicine cabinets and light fixtures. There are new light fixtures and ceiling fans throughout the house. The living room boasts a brick fireplace. The bedrooms are nicely sized. There is a large backyard with new fencing. This is your chance to purchase the perfect starter home - a fresh canvas to make your own! Virtual Tour: https://youtu.be/RaRJjA4vVX8

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Valencia Park Elementary School Primary Regular 665 31 5
Valencia Park Elementary School Middle Regular 665 31 5
Buena Park High School High Regular 1,940 68 5

Valencia Park Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 31
5
GreatSchools Rating

Valencia Park Elementary School

  • Education Level: Middle
  • # of students: 665
  • # of teachers: 31
5
GreatSchools Rating

Buena Park High School

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

$517,500$632,500$575,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,122
Property Tax -$570
Property Insurance -$56
Property Management Fees -$126
CASH FLOW
-$293

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.

$575,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.45%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$21,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $2,661

    COMP ESTIMATED VALUE
  • $2.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5803$2,7004$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 2537 W Cherry Avenue Fullerton, CA 2
    • 4 beds 1 baths ∙ 1,175 Sqft ∙ Built 1955 4 beds 1 baths ∙ 1,175 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $2.20
    •  
  • 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
    •  
  • 1501 S Pacific Drive Fullerton, CA 5
    • 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1954
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.25
    •  
PROPERTY LISTING DETAILS
Amy Cimetta
Vista Sotheby’s International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20233857
Last Updated: 11/07/2020
BESbswy