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11 Parrell Avenue Lake Forest, CA 92610

4 Beds 3 Baths 1,471 sqft Built 1992

$799,900

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $543.78
  • 3 Days on Market
  • MLS # : OC21031871
  • Updated Date : 02/27/2021 at 11:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,471 sqft
  • Baths : 2 full , 1 half
Listing Agent

Regency Real Estate Brokers

Listing Agent's Description

Welcome to this charming 4 bedrooms, 2.5 bath home located on a cul-de-sac in Foothill Ranch. As you enter, you are meet with a light, bright family room anchored with a gas fireplace and your eyes are drawn to the view of the lush backyard. The central family room opens to the dining area that offers space for multiple purposes, and beyond is the updated kitchen. The upstairs master bedroom has vaulted ceilings that feels spacious and relaxing, the two front bedrooms enjoy the view of the rolling hills, and the extra-large 4th bedroom offers flex space for working from home or plenty of room to sleep multiple kids. This home impresses with key upgrades including recently painted interiors, luxury vinyl flooring, freshly painted kitchen cabinets, new hardware, upgraded lighting, newer carpet, and vinyl fencing. It is situated on a 4,120 sq. ft. lot which is perfect for adding a pool and spa, it has a large patio for entertaining, or enjoy gazing at the stars. The two-car attached garage includes built in storage and washer and dryer area. Low HOA. NO Mello Roos. Enjoy all the amenities that Foothill Ranch has to offer, including Award Winning Blue Ribbon Elementary school, city library, community pool and spa, clubhouse, 4 parks, playgrounds, sport fields and trails. Enjoy walking or biking to local shopping centers and restaurants or explore Whiting Ranch Wilderness. This home and neighborhood are special, and it will not last!

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: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19033818

* 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 Santa Margarita Intermediate School Middle Regular 1,353 53 8
Trabuco Hills High School High Regular 2,960 112 9
Rancho Santa Margarita Intermediate School Middle Unknown NA

Rancho Santa Margarita Intermediate School

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 53
8
GreatSchools Rating

Trabuco Hills High School

  • Education Level: High
  • # of students: 2,960
  • # of teachers: 112
9
GreatSchools Rating

Rancho Santa Margarita Intermediate School

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

$719,910$879,890$799,900

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$2,778
Property Tax -$686
Property Insurance -$63
HOA -$84
Property Management Fees -$149
CASH FLOW
-$710

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.

$799,900

PROJECTED PRICE

$3,050

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,724

INVESTMENT

$217,724

Down Payment
$199,975
Rehab Estimate
$5,750
Closing Costs
$11,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,975
Loan Amount $599,925
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,684

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT
  • $2.07

    LIST RENT PER SQFT
  • $3,005

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0503$3,2004$3,2255$3,350
$3,350
RENT COMPS ANALYSIS
  • 11 Parrell Avenue Lake Forest, CA 2
    • 4 beds 3 baths ∙ 1,471 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,471 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.07
    •  
  • 58 Parterre Avenue Lake Forest, CA 1
    • 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 1996
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.95
    •  
  • 31 Parterre Avenue Lake Forest, CA 3
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1996
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.00
    •  
  • 7 Enfilade Avenue Lake Forest, CA 4
    • 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1992
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,225
    • $2.13
    •  
  • 5 Massier Lane Lake Forest, CA 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1991
    property image
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.09
    •  
PROPERTY LISTING DETAILS
Amy Taylor
Regency Real Estate Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21031871
Last Updated: 02/27/2021
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