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12 Baton Rouge Irvine, CA 92604

3 Beds 4 Baths 1,650 sqft Built 1980

INVESTimate

$689,880

List Price

$3,200

$2,950 - $3,450

Rent Est.

$720,373  ( +4.42%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $418.11
  • 2 Days on Market
  • MLS # : OC20174245
  • Updated Date : 08/25/2020 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Fine Homes

Listing Agent's Description

The End-Unit Location, This Looks Like a SFH !! In The Heritage Park Community Of Irvine Near Yale And Walnut Is The Largest Model In The Tract. There's Only One Shared Wall On The Garage! The Double-Door Entry Leads To A Light Dining Room On The Left. On The Right, The Living Room Has Soaring Ceilings, A Cozy Brick Fireplace, And Access To The Brick Patio Through Glass Sliding Doors. Newer Wood Floors. and New Plumbing. The Upgraded Kitchen Includes Maple Glazed Kitchen Cabinets And Hardware, Granite Countertop, Breakfast Bar, New Stainless Steel Appliances, Kitchen, And Faucets. Bathrooms Have Been Remodeled with New Cabinets, Quartz Countertops. New Paint ThroughOut. Freshly Cleaned Also. Has Large Sunny Patio Access Through Glass Sliding Doors. A Whole-House Fan Helps Cut Down On AC Use And Energy Costs. Walk To Nearby Schools And Heritage Park Which Includes Courts For Basketball, Sand Volleyball, Tennis (With Lighting), Racquetball, Baseball Diamonds, Soccer Goals, Playgrounds, And Pond With Ducks. There's Also An Aquatics Center With Olympic-Size Pool, A Community Center And A Public Library In The Same Area. This Home Is Conveniently Located Near Shopping, Entertainment, And Freeways. Low Tax Rate And No Mello Roos.

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: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $224k943k

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

Neighborhood: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21400160018002000220024002600280030003200340036003800Rent in $13863818

* 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
Greentree Elementary School Primary Regular 517 19 8
Greentree Elementary School Middle Regular 517 19 8
Irvine High School High Regular 1,968 64 9

Greentree Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 19
8
GreatSchools Rating

Greentree Elementary School

  • Education Level: Middle
  • # of students: 517
  • # of teachers: 19
8
GreatSchools Rating

Irvine High School

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

$620,892$758,868$689,880

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,545
Property Tax -$628
Property Insurance -$67
HOA -$242
Property Management Fees -$157
CASH FLOW
-$439

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.

$689,880

PROJECTED PRICE

$3,200

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.42%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,568

INVESTMENT

$188,568

Down Payment
$172,470
Rehab Estimate
$5,750
Closing Costs
$10,348

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,545

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,470
Loan Amount $517,410
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$15,774

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.94

    LIST RENT PER SQFT
  • $3,341

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,980
1$2,9802$3,1003$3,2004$3,2005$3,250
$3,250
RENT COMPS ANALYSIS
  • 12 Baton Rouge Irvine, 4
    • 3 beds 4 baths ∙ 1,650 Sqft ∙ Built 1980 3 beds 4 baths ∙ 1,650 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.94
    •  
  • 22 Pleasonton Irvine, 1
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1986
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.98
    •  
  • 11 Waynesboro Irvine, 2
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1985
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.06
    •  
  • 8 Waynesboro Irvine, 3
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1985
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.00
    •  
  • 14571 Ryewood Street Irvine, 5
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1970
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.06
    •  
PROPERTY LISTING DETAILS
Maxine Larson
Re/max Fine Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20174245
Last Updated: 08/25/2020
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