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3011 Heather Drive Fullerton, CA 92835

4 Beds 3 Baths 1,910 sqft Built 1971

INVESTimate

$899,900

List Price

$3,280

$3,030 - $3,530

Rent Est.

$946,875  ( +5.22%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1971
  • Price/Sqft : $471.15
  • 25 Days on Market
  • MLS # : TR20154512
  • Updated Date : 08/25/2020 at 19:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,910 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jc Pacific Capital Inc.

Listing Agent's Description

Beautiful Turnkey 2 Story Pool Home in Great Area of Fullerton at the end of a quiet cul-de-sac street featuring nice curb appeal with stone wall and flower beds in front leading to front courtyard and double door entry. Spacious living room with wood burning fireplace, beautiful wood floors in main living room, nice size family room with wood floors, good size kitchen with white kitchen cabinets, beautiful countertops, stainless steel sink, stove, microwave and dishwasher, separate eating area off of kitchen with ceiling fan and two years new sliding glass door leading to backyard. There is 1 bath downstairs and 4 bedrooms 2 baths upstairs that have been remodeled two year ago. Master suite with ceiling fan, a sitting area and 2 separate closets. There is also a loft area off stairway that can be used for an office area. The backyard is brand new beautiful landscaped featuring a large covered patio with lighting and 3 skylights. Large grassy area and a large custom private pebble tech heated salt water pool with spa and custom rock and waterslide leading into pool. Also has an outside fireplace to sit and relax and extra cemented area behind side gate can be used for storage. Home has newer two years double paned windows, central air conditioning and heating, some recessed lighting and newer light fixtures. This home is in move in condition and is within walking distance to the 125 Acre Craig Regional Park, Brea Mall, Restaurants ,Shopping, Cal State Fullerton, 57 FWY!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Zip Code: 92835

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $249k922k

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

Zip Code: 92835

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $16393818

* 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
Rolling Hills Elementary School Primary Regular 745 26 6
Ladera Vista Junior High School Middle Magnet 823 34 6
Fullerton Union High School High Regular 2,155 74 7

Rolling Hills Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 26
6
GreatSchools Rating

Ladera Vista Junior High School

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

Fullerton Union High School

  • Education Level: High
  • # of students: 2,155
  • # of teachers: 74
7
GreatSchools Rating
 

$809,910$989,890$899,900

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$3,320
Property Tax -$901
Property Insurance -$73
Property Management Fees -$161
CASH FLOW
-$1,175

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$899,900

PROJECTED PRICE

$3,280

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.22%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,224

INVESTMENT

$244,224

Down Payment
$224,975
Rehab Estimate
$5,750
Closing Costs
$13,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,320

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,975
Loan Amount $674,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $1.72

    LIST RENT PER SQFT
  • $3,242

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,1003$3,1504$3,2005$3,280
$3,280
RENT COMPS ANALYSIS
  • 3011 Heather Drive Fullerton, 5
    • 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $1.72
    •  
  • 3072 Maple Avenue Fullerton, 1
    • 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1965
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.72
    •  
  • 3035 Greenview Place Fullerton, 2
    • 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1977
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.62
    •  
  • 2800 Hickory Place Fullerton, 3
    • 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1988
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.81
    •  
  • 825 E Alder Street Brea, 4
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1954
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.64
    •  
PROPERTY LISTING DETAILS
Aileen Zhang
Jc Pacific Capital Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20154512
Last Updated: 08/25/2020
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