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10 Lehigh Aisle #118 Irvine, CA 92612

3 Beds 3 Baths 1,983 sqft Built 1988

$929,000

List Price

$3,610

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $468.48
  • 9 Days on Market
  • MLS # : OC21146069
  • Updated Date : 07/12/2021 at 18:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,983 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Fantastic light and bright 3 bedroom, 3 bathroom home in the gated community of Oxford Court. Beautiful modern oversized tile flooring downstairs and brand new stainless steel appliances in the kitchen. The kitchen is open to the dining room and family room and has upgraded cabinets and granite counters. The family room has a great layout with a cozy fireplace. There is also a full bedroom and bathroom downstairs and a large inside laundry room. Spacious dual master suites upstairs, one with a huge walk in closet, upgraded master bath with travertine flooring, granite counters, dual vanity and soaking tub. Direct access two car garage with plenty of room for storage! This house is zoned for Turtle Rock Elementary and University High school. Oxford Court offer access to multiple pools, tennis courts, close to University Town Center and UCI. Low Tax rate and no Mello Roos

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: Oxford Court

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $243k943k

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

Neighborhood: Oxford Court

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600280030003200340036003800Rent in $10883809

* 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
Rancho San Joaquin Middle School Middle Regular 856 24 9
University High School High Regular 2,527 84 10
Rancho San Joaquin Middle School Middle Unknown NA

Rancho San Joaquin Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 24
9
GreatSchools Rating

University High School

  • Education Level: High
  • # of students: 2,527
  • # of teachers: 84
10
GreatSchools Rating

Rancho San Joaquin Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$836,100$1,021,900$929,000

PURCHASE PRICE

$3,249$3,971$3,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,610
EXPENSES Loan Payment -$3,227
Property Tax -$832
Property Insurance -$75
HOA -$400
Property Management Fees -$177
CASH FLOW
-$1,101

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.

$929,000

PROJECTED PRICE

$3,610

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.7%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$251,935

INVESTMENT

$251,935

Down Payment
$232,250
Rehab Estimate
$5,750
Closing Costs
$13,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,227

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $232,250
Loan Amount $696,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,039

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,610

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,852

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,4503$3,5004$3,6105$3,700
$3,700
RENT COMPS ANALYSIS
  • 10 Lehigh Aisle Irvine, CA 4
    • 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,610
    • $1.82
    •  
  • 6 Vista Irvine, CA 1
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1975
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.95
    •  
  • 18721 Paseo Picasso Irvine, CA 2
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1973
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.08
    •  
  • 10 Yellowwood Way Irvine, CA 3
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1968
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.87
    •  
  • 83 Lehigh Aisle Irvine, CA 5
    • 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1987
    property image
    LEASED 05/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.87
    •  
PROPERTY LISTING DETAILS
Deborah Crockett
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21146069
Last Updated: 07/12/2021
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