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12 Magellan Aisle Irvine, CA 92620

3 Beds 3 Baths 1,764 sqft Built 1989

INVESTimate

$778,880

List Price

$3,220

$2,970 - $3,470

Rent Est.

$816,734  ( +4.86%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1989
  • Price/Sqft : $441.54
  • 9 Days on Market
  • MLS # : OC20168992
  • Updated Date : 08/18/2020 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,764 sqft
  • Baths : 3 full
Listing Agent

Zutila, Inc

Listing Agent's Description

This beautiful condo has very private backyard next to the community pool. Very spacious and bright floor plan with vaulted ceilings. 1 bedroom, full bathroom and laundry room downstairs. Rare premium location with gated entry and attached 2 car garage. Wood like Laminate floor on the first floor, bedrooms has carpet that was replaced recently! Owner is in process of replacing the garage door. Close to the parks, shopping and award winning Irvine schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Northwood Villas

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $234k943k

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

Neighborhood: Northwood Villas

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $14913818

* 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
Northwood Elementary School Primary Regular 722 24 7
Sierra Vista Middle School Middle Regular 733 21 9
Irvine High School High Regular 1,968 64 9

Northwood Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 24
7
GreatSchools Rating

Sierra Vista Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 21
9
GreatSchools Rating

Irvine High School

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

$700,992$856,768$778,880

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$2,874
Property Tax -$710
Property Insurance -$70
HOA -$189
Property Management Fees -$158
CASH FLOW
-$780

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.

$778,880

PROJECTED PRICE

$3,220

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.86%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,153

INVESTMENT

$212,153

Down Payment
$194,720
Rehab Estimate
$5,750
Closing Costs
$11,683

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $194,720
Loan Amount $584,160
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$4,900

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,220

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $3,210

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1003$3,2204$3,3505$3,600
$3,600
RENT COMPS ANALYSIS
  • 12 Magellan Aisle Irvine, 3
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $3,220
    • $1.83
    •  
  • 104 Cartier Aisle Irvine, 1
    • 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1989
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.70
    •  
  • 11 Wadsworth Irvine, 2
    • 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1986
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.82
    •  
  • 4 Aberdeen Street Irvine, 4
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1978
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.87
    •  
  • 2 Salk Irvine, 5
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1980
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.89
    •  
PROPERTY LISTING DETAILS
Nur Hostetler
Zutila, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20168992
Last Updated: 08/18/2020
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