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656 Bridgeport Circle #17 Fullerton, CA 92833

3 Beds 2 Baths 960 sqft Built 1984

$425,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $442.71
  • 12 Days on Market
  • MLS # : PW20237427
  • Updated Date : 11/21/2020 at 10:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 960 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Looking for a single-story corner lot condo in the heart of Fullerton within the Sunny Hills High School District? If so, here it is...3 bedroom/ 2 baths with an enclosed patio and two car detached garage. This condo is located across the street from Bastanchury park and one block from Amerige Heights Town Center which makes this home perfect for that senior, individual or couple looking to be close to everything one needs that’s within walking distance of their home. This condo is also a great find for a first-time home buyer, college student or that investor looking for a great investment. This home has just been painted floor to ceiling and all three bedrooms have new steel gray colored carpet and new dark wood laminate flooring throughout the living room, kitchen, bathrooms, and the indoor laundry area. The condo offers an over-sized two car garage with lots of storage. The private front patio acts as an extension of the living area which makes this home feel bigger than its actual size. The low monthly HOA includes a central water heater, trash, water, and maintenance of the exterior structure of complex. This condo is one of the best values in the Sunny Hills area so make this condo a must-see before it’s gone, and at this price it will be gone before you know it.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 92833

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $230k742k

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

Zip Code: 92833

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15703345

* 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
Fern Drive Elementary School Primary Regular 616 20 6
D. Russell Parks Junior High School Middle Regular 1,050 32 8
Sunny Hills High School High Regular 2,264 78 9

Fern Drive Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 20
6
GreatSchools Rating

D. Russell Parks Junior High School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 32
8
GreatSchools Rating

Sunny Hills High School

  • Education Level: High
  • # of students: 2,264
  • # of teachers: 78
9
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,568
Property Tax -$418
Property Insurance -$50
HOA -$300
Property Management Fees -$110
CASH FLOW
-$197

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.

$425,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$14,482

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $2.34

    LIST RENT PER SQFT
  • $1,974

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,6003$2,6504$2,650
$2,650
RENT COMPS ANALYSIS
  • 656 Bridgeport Circle Fullerton, CA 1
    • 3 beds 2 baths ∙ 960 Sqft ∙ Built 1984 3 beds 2 baths ∙ 960 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.34
    •  
  • 2322 Conejo Lane Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1973
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
  • 1584 Avenida Selva Fullerton, CA 3
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1977
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.12
    •  
  • 137 S Pritchard Avenue Fullerton, CA 4
    • 3 beds 3 baths ∙ 1,295 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,295 Sqft ∙ Built 2002
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.05
    •  
PROPERTY LISTING DETAILS
Deborha Soudipour
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20237427
Last Updated: 11/21/2020
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