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321 Elizabeth Way Fullerton, CA 92833

4 Beds 1 Baths 1,668 sqft Built 1950

$650,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $389.69
  • 4 Days on Market
  • MLS # : PW20242942
  • Updated Date : 11/19/2020 at 10:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,668 sqft
  • Baths : 1 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Spacious Single Story 4 Bedroom 2 Bath Home on Quiet Cul-de-sac Street. Wonderful Fullerton Neighborhood attends Sunny Hills High School. New, Wood Look Flooring and Brand New Carpeting. New Interior Paint. Light and Roomy Kitchen Opens to Living Room and Spacious Family Room with Fireplace. Updated Windows. Separate Laundry Room. 2 Car Garage with Roll-up Door and Opener. Large Private Yard. Covered Patio. Close to Schools, Parks and Shopping. No HOA and Low Property Taxes.

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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: 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
Fern Drive Elementary School Primary Regular 616 20 6
D. Russell Parks Junior High School Middle Regular 1,050 32 8
Sunny Hills High School High Regular 2,264 78 9

Fern Drive Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 20
6
GreatSchools Rating

D. Russell Parks Junior High School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 32
8
GreatSchools Rating

Sunny Hills High School

  • Education Level: High
  • # of students: 2,264
  • # of teachers: 78
9
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,398
Property Tax -$639
Property Insurance -$67
Property Management Fees -$141
CASH FLOW
-$366

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.

$650,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.44%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$21,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $1.73

    LIST RENT PER SQFT
  • $3,136

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8803$2,9004$2,9505$3,100
$3,100
RENT COMPS ANALYSIS
  • 321 Elizabeth Way Fullerton, CA 2
    • 4 beds 1 baths ∙ 1,668 Sqft ∙ Built 1950 4 beds 1 baths ∙ 1,668 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.73
    •  
  • 940 N Euclid Street Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1954
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.70
    •  
  • 708 S Orange Avenue Fullerton, CA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.81
    •  
  • 1639 W Walnut Avenue Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.01
    •  
  • 842 Adlena Drive Fullerton, CA 5
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1958
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.00
    •  
PROPERTY LISTING DETAILS
Jim Salem
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20242942
Last Updated: 11/19/2020
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