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642 W Gage Avenue Fullerton, CA 92832

3 Beds 2 Baths 1,268 sqft Built 1951

$650,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $512.62
  • 3 Days on Market
  • MLS # : PW21039707
  • Updated Date : 03/12/2021 at 11:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,268 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Impeccable 3 bedroom, 2 bath, single story home with beautiful curb appeal, hardwood floors, dual pane vinyl windows, remodeled bathrooms, incredibly private entertainers’ dream backyard,all on a quaint tree-line street of Fullerton.Starts w/extra wide driveway with brick planters,palm trees & rosebushes lined entry then into thru a gorgeous leaded glass front door.Fantastic kitchen has an abundance of wood cabinetry w/multiple glass faces, stainless steel Kenmore elite dishwasher,Kenmore 4 burner range & stainless steel microwave,extra large sink,tile counters,upgraded fixtures,lights on dimmers,lazy Susan & extra-large pantry.Dining room is prodigious 11‘ x 13‘ w/lighted ceiling fan & double door entry surrounded by windows.Large living room has beautiful hardwood floors,crown molding,French doors & all leading to the private backyard.Outdoor patio has its own roof that allows for year-round entertainment.Even has a hideaway screen door on the French doors & beautiful shed on its own foundation.Master bedroom is huge 12‘ x 13‘ w/exquisitely remodeled master bathroom w/granite counters,beautiful cabinetry,shower over Jacuzzi tub w/walls of granite,upgraded fixtures & glass slider doors. 2 other bedrooms are spacious w/lighted ceiling fans.Hallway bath is upgraded w/pedestal sink,newer fixtures, glass shower doors, tiled shower walls w/designer insets & ceramic tile flooring.Large laundry room has wash basin & utility cabinets,plus 2 car garage w/built-in storage.A true GEM!

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
Nicolas Junior High School Middle Regular 738 31 4
Fullerton Union High School High Regular 2,155 74 7

Nicolas Junior High School

  • Education Level: Middle
  • # of students: 738
  • # of teachers: 31
4
GreatSchools Rating

Fullerton Union High School

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

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

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,258
Property Tax -$643
Property Insurance -$58
Property Management Fees -$126
CASH FLOW
-$514

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.

$650,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.40%

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

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$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 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $2.03

    LIST RENT PER SQFT
  • $2,739

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,570
1$2,5702$2,7903$2,9004$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 642 W Gage Avenue Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $2.03
    •  
  • 933 W Autumn Drive W Anaheim, CA 2
    • 3 beds 1 baths ∙ 1,253 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,253 Sqft ∙ Built 1955
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $2.23
    •  
  • 1431 W Olive Avenue Fullerton, CA 3
    • 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1957
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.27
    •  
  • 509 S Woods Avenue Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1956
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.07
    •  
  • 636 W Ash Avenue Fullerton, CA 5
    • 4 beds 1 baths ∙ 1,452 Sqft ∙ Built 1953 4 beds 1 baths ∙ 1,452 Sqft ∙ Built 1953
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.07
    •  
PROPERTY LISTING DETAILS
Ron Arnold
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21039707
Last Updated: 03/12/2021
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