Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

124 Roadrunner Irvine, CA 92603

3 Beds 2 Baths 1,859 sqft Built 2004

$929,000

List Price

$3,650

$3.4K - $3.9K

Rent Est.

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.

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: Green Glen

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $251k1641k

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

Neighborhood: Green Glen

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200025003000350040004500500055006000Rent in $16086043

* 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
Vista Verde School Primary Regular 941 32 10
Vista Verde School Middle Regular 941 32 10
University High School High Regular 2,527 84 10

Vista Verde School

  • Education Level: Primary
  • # of students: 941
  • # of teachers: 32
10
GreatSchools Rating

Vista Verde School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 32
10
GreatSchools Rating

University High School

  • Education Level: High
  • # of students: 2,527
  • # of teachers: 84
10
GreatSchools Rating
 

$836,100$1,021,900$929,000

PURCHASE PRICE

$3,285$4,015$3,650

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$251,935

INVESTMENT

$251,935

Down Payment
$232,250
Rehab Estimate
$5,750
Closing Costs
$13,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,227

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $232,250
Loan Amount $696,750
See What Happens When You Reinvest Cash Flow

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
$3,150
1$3,1502$3,2903$3,6504$3,9005$4,500
$4,500
RENT COMPS ANALYSIS
  • 124 Roadrunner Irvine, CA 3
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.96
    •  
  • 29 Tall Oak Irvine, CA 1
    • 3 beds 4 baths ∙ 1,775 Sqft ∙ Built 2004 3 beds 4 baths ∙ 1,775 Sqft ∙ Built 2004
    property image
    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
    property image
    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
Karin Aguilar
Showcase Agency, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20200145
Last Updated: 10/09/2020
BESbswy