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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $499.73
- 109 Days on Market
- MLS # : PW20200145
- Updated Date : 10/09/2020 at 18:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,859 sqft
- Baths : 2 full
Listing Agent
Showcase Agency, Inc.
Listing Agent's Description
ABSOLUTELY TEMPTING! Come view this irresistible 3 bedroom home in the oh-so desirable community of Whispering Glen. Your chance to own in the sweet spot of Turtle Ridge, three factors make this a rare find: 1) this is the largest, most exclusive floor plan in Whispering Glen, 2) with three bedrooms and 1,859 square feet, the home is noticeably large and perfect for growing needs, and 3) the free-flowing design is well-suited for entertaining. The living area is spacious and flows into the large dining area. The kitchen has enough storage for a chef and includes recessed lighting and a walk-in pantry. If you enjoy entertaining, have friends pull up a barstool and pour them a glass of wine while you put on a cooking demonstration. The master bedroom’s size is impressive but wait until you see the large walk-in closet and double vanity in the master bath. The other two bedrooms will continue to impress--nicely sized with good closet space and natural light. Right off the dining area is a covered terrace... start weekend mornings here with a cup of coffee and the iPad. Other extras included: fireplace, laundry room, recessed lighting, closet organizers, double pane windows, and 2 car garage with built-in cabinets and epoxy floor. Community amenities include parks, swimming pool, spa, BBQ area, picnic and play areas. Located just minutes from UCI, Mariners Church, Newport Beach, Fashion Island, and the 73 toll road. Award-winning Irvine Unified School District.
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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: Green Glen
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Green Glen
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,650 |
| EXPENSES | Loan Payment | -$3,227 |
| Property Tax | -$1,070 | |
| Property Insurance | -$72 | |
| HOA | -$275 | |
| Property Management Fees | -$179 | |
|
CASH FLOW
-$1,173
|
||
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.
$929,000
PROJECTED PRICE
$3,650
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.98% |
| Appreciation Year (1-5) | 4.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$251,935
LOAN DETAILS
$3,227
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $232,250 |
| Loan Amount | $696,750 |
0.25
YEARS SAVED
$204
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,650
LIST RENT -
$1.96
LIST RENT PER SQFT
-
$3,672
COMP ESTIMATED VALUE -
$1.98
COMP AVG. RENT PER SQFT
Comps Range
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124 Roadrunner Irvine, CA 3
- 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004
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- Rent Per SQFT
- $3,650
- $1.96
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29 Tall Oak Irvine, CA 1
- 3 beds 4 baths ∙ 1,775 Sqft ∙ Built 2004 3 beds 4 baths ∙ 1,775 Sqft ∙ Built 2004
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LEASED 03/07/20- Rent
- Rent Per SQFT
- $3,150
- $1.77
-
35 Tall Oak Irvine, CA 2
- 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2004
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LEASED 02/05/20- Rent
- Rent Per SQFT
- $3,290
- $1.82
-
26 Gingerwood Irvine, CA 4
- 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004
![property image]()
LEASED 09/14/20- Rent
- Rent Per SQFT
- $3,900
- $2.10
-
64 Shade Tree Irvine, CA 5
- 3 beds 4 baths ∙ 2,038 Sqft ∙ Built 2003 3 beds 4 baths ∙ 2,038 Sqft ∙ Built 2003
![property image]()
LEASED 09/02/20- Rent
- Rent Per SQFT
- $4,500
- $2.21
PROPERTY LISTING DETAILS
Showcase Agency, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20200145
Last Updated: 10/09/2020
