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724 Arroues Drive Fullerton, CA 92835

4 Beds 3 Baths 2,321 sqft Built 1975

$850,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $366.22
  • 5 Days on Market
  • MLS # : PW21060877
  • Updated Date : 03/25/2021 at 11:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,321 sqft
  • Baths : 2 full , 1 half
Listing Agent

Reliance Real Estate Services

Listing Agent's Description

(Click on virtual tour for 3D floorplan) Finally, the GOLF COURSE home you have been waiting for located on a private street in the highly desirable President Homes subdivision. This charming 2,321 sqft single-family residence shares just one wall and features a stunning view of the Fullerton Golf Course, 3 bedrooms + a den (4th bedroom), and 2.5 bathrooms with great potential. The gated entry leads you to a spacious and private front courtyard designed with brick pavers. The front door leads you to the tiled foyer which opens to the bright and open living room and dining room featuring a cozy fireplace, laminate flooring, and vaulted ceiling. The large master bedroom includes a balcony overlooking the spacious backyard and stunning golf course. Additional features include a brand new HVAC system, downstairs laundry room, direct access 2-car garage, and long driveway. The Stone Pine Estates HOA includes only 16 homes and amenities include a pool, spa, tennis court, high-speed cable, exterior maintenance, and insurance (only need HO6 insurance). Conveniently located near shopping centers, parks, restaurants, and in the Beechwood Elementary/Middle School and Fullerton Union High School district.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Zip Code: 92835

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $249k922k

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

Zip Code: 92835

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $16393818

* 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
Fullerton Union High School High Regular 2,155 74 7

Fullerton Union High School

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

$765,000$935,000$850,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$2,952
Property Tax -$851
Property Insurance -$83
HOA -$495
Property Management Fees -$167
CASH FLOW
-$1,148

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$850,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$109

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $3,493

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,3004$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 724 Arroues Drive Fullerton, CA 4
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.46
    •  
  • 3801 San Pablo Drive Fullerton, CA 1
    • 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 1977
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.45
    •  
  • 516 Westchester Place Fullerton, CA 2
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1977
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.58
    •  
  • 2725 Firethorne Avenue Fullerton, CA 3
    • 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 1966
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.52
    •  
  • 610 Augusta Court Fullerton, CA 5
    • 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 1979
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.47
    •  
PROPERTY LISTING DETAILS
Kay Meewan Lee
Reliance Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21060877
Last Updated: 03/25/2021
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