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PROPERTY INFO
FACTS
- Single Family
- Built In 1951
- Price/Sqft : $609.96
- 3 Days on Market
- MLS # : OC21024475
- Updated Date : 02/05/2021 at 12:40
CONSTRUCTION
- Beds : 3
- Floor Size : 1,205 sqft
- Baths : 2 full
Listing Agent
Ohana Properties A California
Listing Agent's Description
Amazing opportunity to reside on one of the most popular treelined streets of historic Downtown Fullerton. Home sits nestled on a hill with a dramatic custom stairway leading up to a spacious 355 sq.ft. enclosed front porch, perfect for entertaining. Home features classic kitchen style from the era with decorative wall tile and cabinetry. Primary bedroom has attached full bath. Bathrooms feature vintage tile work and laminate wood flooring. Step into the multi-level back yard with a delightful mix of hardscape, lawn & raised planters for the avid gardener. Two car garage with alley access and an additional exterior pad for extra parking. Enjoy a short walk to Downtown shopping & dining or the Juanita Cooke Trail with access to miles of hiking & biking paths.
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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: 92832
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92832
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,530 |
| EXPENSES | Loan Payment | -$2,553 |
| Property Tax | -$737 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$124 | |
|
CASH FLOW
-$940
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$735,000
PROJECTED PRICE
$2,530
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 7.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.35% |
| 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
$200,525
LOAN DETAILS
$2,553
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $183,750 |
| Loan Amount | $551,250 |
0.42
YEARS SAVED
$830
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,530
LIST RENT -
$2.1
LIST RENT PER SQFT
-
$2,549
COMP ESTIMATED VALUE -
$2.11
COMP AVG. RENT PER SQFT
Comps Range
-
427 Malvern Avenue Fullerton, CA 1
- 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 1951
![property image]()
- Rent
- Rent Per SQFT
- $2,530
- $2.10
-
329 N Orange Avenue Fullerton, CA 2
- 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1954
![property image]()
LEASED 12/16/19- Rent
- Rent Per SQFT
- $2,795
- $2.29
-
509 S Woods Avenue Fullerton, CA 3
- 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1956
![property image]()
LEASED 06/20/20- Rent
- Rent Per SQFT
- $2,950
- $2.07
-
636 W Ash Avenue Fullerton, CA 4
- 4 beds 1 baths ∙ 1,452 Sqft ∙ Built 1953 4 beds 1 baths ∙ 1,452 Sqft ∙ Built 1953
![property image]()
LEASED 09/05/20- Rent
- Rent Per SQFT
- $3,000
- $2.07
-
635 W Elm Avenue Fullerton, CA 5
- 3 beds 1 baths ∙ 1,476 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,476 Sqft ∙ Built 1953
![property image]()
LEASED 11/04/20- Rent
- Rent Per SQFT
- $3,000
- $2.03
PROPERTY LISTING DETAILS
Ohana Properties A California
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21024475
Last Updated: 02/05/2021
