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656 W Glenwood Drive Fullerton, CA 92832

3 Beds 2 Baths 1,559 sqft Built 1973

$650,000

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $416.93
  • 5 Days on Market
  • MLS # : PW20264204
  • Updated Date : 02/27/2021 at 08:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,559 sqft
  • Baths : 1 full , 1 half
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

NEW TO MARKET gorgeous, multi-level, single family attached, end-unit home with open floor plan filled with natural, bright light is move-in ready. This home's open floor plan has recessed lighting, wood floors, plantation shutters, beautiful French doors/dual-pane windows throughout & central A/C. Living room with fireplace flows into the dining area...a perfect space for all your entertaining. Step out onto the large, private patio from the living or dining rooms. Beautiful, remodeled kitchen has huge pantry & small eat-in are for two. Lower level also features inside laundry room off the kitchen & a 1/2 bath. Upstairs you'll find the master bedroom/bathroom with dual sinks, shower & plenty of closet space, two more bedrooms for your home office, kids or guests, a full bathroom & entry to the attached, two-car garage with automatic roll-up door. Glenwood only has 68 homes & is a beautifully maintained neighborhood with spacious greenways. HOAs include; a community pool, dry sauna & a clubhouse that has a party room with a small kitchen. In Sunny Hills High School district & about a mile from charming downtown Fullerton. Fullerton also has an Amtrack Station & is home to Cal State Fullerton University & Fullerton College.

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
Sunny Hills High School High Regular 2,264 78 9

Nicolas Junior High School

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

Sunny Hills High School

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

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

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$2,258
Property Tax -$639
Property Insurance -$65
HOA -$385
Property Management Fees -$155
CASH FLOW
-$332

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

$3,170

PROJECTED RENT

0.49%

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

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 55% 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

3.42

YEARS SAVED

$18,961

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $2.03

    LIST RENT PER SQFT
  • $3,184

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0003$3,0004$3,1005$3,170
$3,170
RENT COMPS ANALYSIS
  • 656 W Glenwood Drive Fullerton, CA 5
    • 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $2.03
    •  
  • 509 S Woods Avenue Fullerton, CA 1
    • 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 2
    • 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
    •  
  • 635 W Elm Avenue Fullerton, CA 3
    • 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
    •  
  • 842 Adlena Drive Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1958
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.00
    •  
PROPERTY LISTING DETAILS
Lisa May
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20264204
Last Updated: 02/27/2021
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