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10 Nebraska Irvine, CA 92606

5 Beds 3 Baths 2,239 sqft Built 1999

INVESTimate

$929,900

List Price

$3,710

$3,460 - $3,960

Rent Est.

$981,974  ( +5.60%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $415.32
  • 6 Days on Market
  • MLS # : OC20171424
  • Updated Date : 08/21/2020 at 09:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,239 sqft
  • Baths : 3 full
Listing Agent

Re/max Premier Realty

Listing Agent's Description

Beautiful 5 bedroom, 3 bathroom cul-da-sac home located in the lucrative private gated community of Harvard Square. Grand entry with gorgeous Travertine Flooring, Kitchen opens to living space, Spacious master bedroom with a walk-in closet and large master bath. Lounge on the back patio lush with greenery and sitting area. Just a few short blocks to the common area park with a pool, spa, patio with barbecues, tennis courts, a basketball court, a sand volleyball court, and playground.

SEE MORE

MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Harvard Square

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $272k1151k

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

Neighborhood: Harvard Square

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
College Park Elementary School Primary Regular 798 27 8
College Park Elementary School Middle Regular 798 27 8
Irvine High School High Regular 1,968 64 9

College Park Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 27
8
GreatSchools Rating

College Park Elementary School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 27
8
GreatSchools Rating

Irvine High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 64
9
GreatSchools Rating
 

$836,910$1,022,890$929,900

PURCHASE PRICE

$3,339$4,081$3,710

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,710
EXPENSES Loan Payment -$3,431
Property Tax -$969
Property Insurance -$81
HOA -$169
Property Management Fees -$182
CASH FLOW
-$1,122

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.

$929,900

PROJECTED PRICE

$3,710

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.60%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$252,174

INVESTMENT

$252,174

Down Payment
$232,475
Rehab Estimate
$5,750
Closing Costs
$13,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% 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 $232,475
Loan Amount $697,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,710

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $3,678

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$3,595
1$3,5952$3,6003$3,6504$3,7005$3,710
$3,710
RENT COMPS ANALYSIS
  • 10 Nebraska Irvine, 5
    • 5 beds 3 baths ∙ 2,239 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,239 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $3,710
    • $1.66
    •  
  • 15 Minnesota Irvine, 1
    • 5 beds 3 baths ∙ 2,239 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,239 Sqft ∙ Built 1999
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,595
    • $1.61
    •  
  • 21 Iowa Irvine, 2
    • 4 beds 3 baths ∙ 2,206 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,206 Sqft ∙ Built 1999
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.63
    •  
  • 16 Nebraska Irvine, 3
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1999
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.62
    •  
  • 2 Kansas Irvine, 4
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1999
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.71
    •  
PROPERTY LISTING DETAILS
Shannon Doyle
Re/max Premier Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20171424
Last Updated: 08/21/2020
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