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612 Newkirk Ave Fullerton, CA 92832

3 Beds 2 Baths 1,215 sqft Built 1955

$595,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $489.71
  • 6 Days on Market
  • MLS # : EV20249082
  • Updated Date : 12/05/2020 at 16:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,215 sqft
  • Baths : 2 full
Listing Agent

Real Estate Masters Group

Listing Agent's Description

OOPS!! wrong price entered when originally entered. This Single Family Home is well maintained offering 3 bedrooms and 2 baths. Long term owner shows and display pride of ownership, the front yard is fully fenced and equip with nice concrete fences and driveway with plenty of parking. From the entrance you can see tile floors all throughout and laminated floors in all bedrooms. Bathrooms are remodel with nice tile work. Home has updated copper plumbing and insulation. The kitchen, bathrooms and basically the entire house appears in great condition. Make your appointment before it goes quick! Seller is very motivated.

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
Maple Elementary School Primary Regular 386 15 5
Ladera Vista Junior High School Middle Magnet 823 34 6
Fullerton Union High School High Regular 2,155 74 7

Maple Elementary School

  • Education Level: Primary
  • # of students: 386
  • # of teachers: 15
5
GreatSchools Rating

Ladera Vista Junior High School

  • Education Level: Middle
  • # of students: 823
  • # of teachers: 34
6
GreatSchools Rating

Fullerton Union High School

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

$535,500$654,500$595,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$2,195
Property Tax -$611
Property Insurance -$56
Property Management Fees -$112
CASH FLOW
-$694

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.

$595,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.38%

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$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

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$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $2,427

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2803$2,6004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 612 Newkirk Ave Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.88
    •  
  • 124 N Janet Place Fullerton, CA 1
    • 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1961
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $2.00
    •  
  • 1333 E Kenwood Avenue Anaheim, CA 3
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1954
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.98
    •  
  • 1425 Sudene Avenue Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1954
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.98
    •  
  • 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
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.03
    •  
PROPERTY LISTING DETAILS
Fatima Ulmos
Real Estate Masters Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV20249082
Last Updated: 12/05/2020
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