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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $556.46
- 7 Days on Market
- MLS # : IG21025904
- Updated Date : 02/13/2021 at 16:54
CONSTRUCTION
- Beds : 3
- Floor Size : 1,123 sqft
- Baths : 2 full
Listing Agent
Team Spirit Realty, Inc.
Listing Agent's Description
Located in a quiet and peaceful street in a VERY DESIRABLE neighborhood! Cozy and charming 3-bedroom, 2-full bath single family home in Fullerton. Home offers a warm and functional flowing floor plan with lots of natural light. Lovely wood flooring, double pane windows, and crown molding in the living room. Beautiful 4-panel sliding doors leading out to a covered patio overlooking a tranquil, grassy backyard. Ideal location with easy 91 Fwy, 5 Fwy access and close to shopping centers, restaurants, and schools. This is a great opportunity to get into a special home and neighborhood!
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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: 92833
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92833
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,320 |
| EXPENSES | Loan Payment | -$2,171 |
| Property Tax | -$619 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$114 | |
|
CASH FLOW
-$638
|
||
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.
$624,900
PROJECTED PRICE
$2,320
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$171,349
LOAN DETAILS
$2,171
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $156,225 |
| Loan Amount | $468,675 |
1.08
YEARS SAVED
$2,753
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,320
LIST RENT -
$2.07
LIST RENT PER SQFT
-
$2,516
COMP ESTIMATED VALUE -
$2.24
COMP AVG. RENT PER SQFT
Comps Range
-
2624 W Cherry Avenue Fullerton, CA 1
- 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1955
- Rent
- Rent Per SQFT
- $2,320
- $2.07
-
520 S Courtney Avenue Fullerton, CA 2
- 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
-
612 S Paula Drive Fullerton, CA 3
- 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
-
2455 W Cherry Avenue Fullerton, CA 4
- 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1955
LEASED 12/17/20- Rent
- Rent Per SQFT
- $2,850
- $2.15
-
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
Team Spirit Realty, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG21025904
Last Updated: 02/13/2021
