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3037 Madison Avenue Fullerton, CA 92831

3 Beds 3 Baths 1,562 sqft Built 1964

$560,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $358.51
  • 3 Days on Market
  • MLS # : DW20260247
  • Updated Date : 12/18/2020 at 21:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,562 sqft
  • Baths : 2 full , 1 half
Listing Agent

Modha Realty, Inc

Listing Agent's Description

Location! Location! Location! Great Schools and Minutes to CSU Fullerton. Imagine living in this 1562 sqft Home with 3 Bedrooms and 2.5 Bathrooms with Pool View. Enter to the Living Room with Cozy Fireplace, Main Floor has Upgraded Kitchen with Granite Counter Top and Stainless Steel Appliances, Guest Bathroom, Separate Laundry Area and Dining Area. Second Floor has 3 Bedrooms and 2 Full upgraded Bathrooms including Master Bedroom and Bathroom. Recessed Lighting and Ceiling Fans throughout the Home. Yes, there is central AC and Heating System. Attached one Car Garage for easy access and there is one more assigned Carport for this Home. Enjoy Private Patio for Holidays. HOA Includes Water, Trash, Swimming Pool, Club House and outside Maintenance. Minutes to freeways, shopping & restaurants. FHA and VA buyers are welcome.

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: 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
Topaz Elementary School Primary Regular 568 20 5
Tuffree Middle School Middle Regular 727 27 8
El Dorado High School High Regular 1,904 73 8

Topaz Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 20
5
GreatSchools Rating

Tuffree Middle School

  • Education Level: Middle
  • # of students: 727
  • # of teachers: 27
8
GreatSchools Rating

El Dorado High School

  • Education Level: High
  • # of students: 1,904
  • # of teachers: 73
8
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,066
Property Tax -$568
Property Insurance -$65
HOA -$356
Property Management Fees -$134
CASH FLOW
-$458

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.

$560,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.49%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,440

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $2,839

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,7303$3,0004$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 3037 Madison Avenue Fullerton, CA 2
    • 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $1.75
    •  
  • 2924 Wellesley Court Fullerton, CA 1
    • 3 beds 1 baths ∙ 1,404 Sqft ∙ Built 1975 3 beds 1 baths ∙ 1,404 Sqft ∙ Built 1975
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.92
    •  
  • 2935 Wellesley Court Fullerton, CA 3
    • 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 1974
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.82
    •  
  • 314 Ruby Drive Placentia, CA 4
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1956
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
  • 1053 S Lawanda Place Placentia, CA 5
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1963
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.79
    •  
PROPERTY LISTING DETAILS
Prakashkumar Joshi
Modha Realty, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20260247
Last Updated: 12/18/2020
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