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606 S Roosevelt Avenue Fullerton, CA 92832

3 Beds 2 Baths 1,736 sqft Built 1955

$705,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $406.11
  • 6 Days on Market
  • MLS # : PW20228041
  • Updated Date : 11/01/2020 at 16:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,736 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Beautiful 3 bedroom 2 bathroom home in Fullerton. Many upgrades. Roof is 2 years old. New windows installed in 2006. New fence installed 3 years ago. New bathroom vanities. New water heater. New formica. New doors. Beautiful hardwood floors. Spacious living room with wood burning fireplace. Large step-down family room with open beam ceilings. Formal dining room. Central Air conditioning and forced air heat. Wide concrete driveway for extra parking. Fruit trees (guava, lemon, lime) ADT alarm service. Finished garage. This home shows well and displays pride of ownership. Great freeway access to the 91, 57, and 5 freeways. Close to shopping and public transportation. Downtown Fullerton and Fullerton Loop just a short drive away. You will not be disappointed!

SEE MORE

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

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $200k742k

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

Zip Code: 92832

ZipNIR Market*CityMarket2010Year2000 Q22019 Q21400160018002000220024002600280030003200Rent in $13863345

* 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
Richman Elementary School Primary Regular 781 27 6
Richman Elementary School Middle Regular 781 27 6
Fullerton Union High School High Regular 2,155 74 7

Richman Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 27
6
GreatSchools Rating

Richman Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 27
6
GreatSchools Rating

Fullerton Union High School

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

$634,500$775,500$705,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,601
Property Tax -$707
Property Insurance -$69
Property Management Fees -$152
CASH FLOW
-$429

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.

$705,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$192,575

INVESTMENT

$192,575

Down Payment
$176,250
Rehab Estimate
$5,750
Closing Costs
$10,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,601

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $176,250
Loan Amount $528,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$24,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $3,303

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0003$3,1004$3,2005$3,695
$3,695
RENT COMPS ANALYSIS
  • 606 S Roosevelt Avenue Fullerton, CA 3
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.79
    •  
  • 708 S Orange Avenue Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.81
    •  
  • 846 W Glenwood Circle Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1973
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.92
    •  
  • 537 W Knepp Avenue Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1953
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.93
    •  
  • 1324 W Valencia Mesa Drive Fullerton, CA 5
    • 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1963
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $1.95
    •  
PROPERTY LISTING DETAILS
Mark Henderson
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20228041
Last Updated: 11/01/2020
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