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3229 Topaz Lane Fullerton, CA 92831

4 Beds 3 Baths 1,798 sqft Built 1963

$525,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $291.99
  • 4 Days on Market
  • MLS # : PW21061597
  • Updated Date : 03/26/2021 at 12:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,798 sqft
  • Baths : 2 full , 1 half
Listing Agent

Impact Properties, Inc

Listing Agent's Description

Discover this lovely 4-bedroom, 2-1/2 bathroom, 1798 sqft home in the College Greens community of East Fullerton. This newly painted and newly carpeted home is perfect for a growing family. As you enter, you will notice tile flooring which extends to the right, past the guest bathroom and into the kitchen. The spacious kitchen boasts granite counter tops with plenty of counter space, electric oven and stove top, dishwasher, and a built-in microwave. Walk through the dining room, and you will find beautiful dark hardwood floors which extend to the family room. The large family room has a beautiful stone fireplace with mantel and has an extra section with built-in desks and shelving. Make your way upstairs, and you will find new carpeting and all four bedrooms. One of the spacious bedrooms has beautiful wainscoting, and the master bedroom has a large walk-in closet and attached bathroom with walk-in shower. This home is in a prime location with close access to shops, restaurants, freeways, Topaz Elementary and Cal State Fullerton. This one will go quickly. See it before it goes away!

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: 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
Tuffree Middle School Middle Regular 727 27 8
El Dorado High School High Regular 1,904 73 8

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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$1,824
Property Tax -$532
Property Insurance -$71
HOA -$295
Property Management Fees -$156
CASH FLOW
$303

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.

$525,000

PROJECTED PRICE

$3,180

PROJECTED RENT

0.61%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$65,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $3,196

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0003$3,1004$3,1805$3,300
$3,300
RENT COMPS ANALYSIS
  • 3229 Topaz Lane Fullerton, CA 4
    • 4 beds 3 baths ∙ 1,798 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,798 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $1.77
    •  
  • 922 Diamond Road Placentia, CA 1
    • 5 beds 2 baths ∙ 1,666 Sqft ∙ Built 1965 5 beds 2 baths ∙ 1,666 Sqft ∙ Built 1965
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.74
    •  
  • 314 Ruby Drive Placentia, CA 2
    • 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 3
    • 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
    •  
  • 1713 Heritage Avenue Placentia, CA 5
    • 4 beds 2 baths ∙ 1,789 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,789 Sqft ∙ Built 1963
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.84
    •  
PROPERTY LISTING DETAILS
Todd Anderson
Impact Properties, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21061597
Last Updated: 03/26/2021
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