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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $437.75
- 23 Days on Market
- MLS # : PW21019901
- Updated Date : 02/20/2021 at 10:13
CONSTRUCTION
- Beds : 4
- Floor Size : 1,827 sqft
- Baths : 2 full
Listing Agent
Keller Williams Realty
Listing Agent's Description
Coming Soon!!! This Spectacular buy can be updated in the manner you've always dreamed of, while getting into this Highly sought-after neighborhood just a few blocks from the renowned Acacia Elementary School, Troy High School and Cal State Fullerton. This Mid Century Classic home has everything you're looking for, in a price you can afford. The Huge family room with open beam ceiling and sliders leading to roomy back yard, lend themselves to accommodating many friends and large family gatherings. It has walls of closets and cabinets, lots of windows and an open entertaining/living area. The double-sided fireplace will keep you toasty whether you're entertaining formally or enjoying family time. The original dining room was enclosed for a 4th bedroom and can easily be changed back. There's a Huge back yard with fruit trees, extra parking in the driveway (in addition to the 2 car garage) and even room for an RV. Lots of Families with Kids Playing in this beautiful tree-lined street. Be ready to jump when this one hits the market.
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MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Zip Code: 92831
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92831
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,130 |
| EXPENSES | Loan Payment | -$2,778 |
| Property Tax | -$773 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$153 | |
|
CASH FLOW
-$646
|
||
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.
$799,767
PROJECTED PRICE
$3,130
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 6.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,688
LOAN DETAILS
$2,778
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $199,942 |
| Loan Amount | $599,825 |
1.83
YEARS SAVED
$9,658
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,130
LIST RENT -
$1.71
LIST RENT PER SQFT
-
$3,115
COMP ESTIMATED VALUE -
$1.71
COMP AVG. RENT PER SQFT
Comps Range
-
701 Maertin Lane Fullerton, CA 3
- 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1955
- Rent
- Rent Per SQFT
- $3,130
- $1.71
-
1624 Nutwood Avenue Fullerton, CA 1
- 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1955
LEASED 05/22/20- Rent
- Rent Per SQFT
- $2,800
- $1.52
-
1109 Maertin Lane Fullerton, CA 2
- 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1957
LEASED 10/20/20- Rent
- Rent Per SQFT
- $2,950
- $1.81
-
2489 E Commonwealth Avenue Fullerton, CA 4
- 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1954
LEASED 07/30/20- Rent
- Rent Per SQFT
- $3,165
- $1.76
-
1233 Riedel Avenue Fullerton, CA 5
- 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1956
LEASED 07/15/20- Rent
- Rent Per SQFT
- $3,300
- $1.73
PROPERTY LISTING DETAILS
Keller Williams Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21019901
Last Updated: 02/20/2021
