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1 Red Coat Place Irvine, CA 92602

3 Beds 3 Baths 2,004 sqft Built 1997

$930,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $464.07
  • 2 Days on Market
  • MLS # : TR20251902
  • Updated Date : 12/05/2020 at 17:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,004 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jc Pacific Capital Inc.

Listing Agent's Description

Corner lot home in an excellent neighborhood. 3 bedrooms & a loft that may be converted into a bedroom. 2 full bath on the second floor and a 1/2 bath on the first floor. Ceramic tile flooring in kitchen and dinning area. Hardwood floor throughout the rest of the house. Walking distance to Elementary School. Close proximity to golf course, parks, and stores. Easy access to FWY 5 and CA 261.

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

Neighborhood: Lower Peters Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k943k

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

Neighborhood: Lower Peters Canyon

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813818

* 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
Myford Elementary School Primary Regular 756 27 7
Pioneer Middle School Middle Regular 1,248 43 8
Arnold O. Beckman High School High Regular 2,648 94 9

Myford Elementary School

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 27
7
GreatSchools Rating

Pioneer Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 43
8
GreatSchools Rating

Arnold O. Beckman High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 94
9
GreatSchools Rating
 

$837,000$1,023,000$930,000

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 -$3,431
Property Tax -$987
Property Insurance -$75
Property Management Fees -$167
CASH FLOW
-$1,261

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.

$930,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.0%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$252,200

INVESTMENT

$252,200

Down Payment
$232,500
Rehab Estimate
$5,750
Closing Costs
$13,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $232,500
Loan Amount $697,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$508

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
  • $1.7

    LIST RENT PER SQFT
  • $3,632

    COMP ESTIMATED VALUE
  • $1.81

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3953$3,4004$3,5005$3,695
$3,695
RENT COMPS ANALYSIS
  • 1 Red Coat Place Irvine, CA 3
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.70
    •  
  • 24 Winterfield Road Irvine, CA 1
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1999
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.71
    •  
  • 10 Appleglen Drive Irvine, CA 2
    • 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 1998
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.81
    •  
  • 31 Winterfield Road Irvine, CA 4
    • 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1999
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.85
    •  
  • 35 Boulder Creek Way Irvine, CA 5
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1998
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $1.88
    •  
PROPERTY LISTING DETAILS
Aileen Zhang
Jc Pacific Capital Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20251902
Last Updated: 12/05/2020
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