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PROPERTY INFO
FACTS
- Single Family
- Built In 1980
- Price/Sqft : $508.11
- 14 Days on Market
- MLS # : OC20244898
- Updated Date : 12/05/2020 at 13:35
CONSTRUCTION
- Beds : 3
- Floor Size : 1,653 sqft
- Baths : 2 full , 1 half
Listing Agent
First Team Real Estate
Listing Agent's Description
Freshly painted and carpeted, remodeled 3 bedroom town home with dual master suites which is located inside the prestigious Woodbridge loop. Nice open floor plan with eat in granite kitchen, formal dining room, and spacious living room. This home also includes a main floor bedroom which can be used for an at home office. This home also boast a cozy fireplace, recessed lighting, skylight and central air conditioning. On the second level you have the master suite that includes mirrored wardrobes, ceiling fan, plantation shutters and a spa tub. The second bedroom includes it own walk-in closet and private bathroom, shower and vanity area. The private front entry is gated to add more privacy. The brick lined rear patio has plenty of room for entertaining, barbecuing or enjoying the peaceful location. This home has a 2 car attached garage, automatic garage door opener, storage cabinets and the laundry hook ups. The Woodbridge Association Lake and beach are close by, Other association amenities include tennis, swimming pools and many parks. Take a walk across the walking bridge for a beautiful view of the lake. Take the many trails to the local shopping area or to one of the many restaurants.
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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: Hollygrove West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hollygrove West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,210 |
| EXPENSES | Loan Payment | -$3,099 |
| Property Tax | -$765 | |
| Property Insurance | -$67 | |
| HOA | -$105 | |
| Property Management Fees | -$157 | |
|
CASH FLOW
-$983
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$839,900
PROJECTED PRICE
$3,210
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 4.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| 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
$228,324
LOAN DETAILS
$3,099
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $209,975 |
| Loan Amount | $629,925 |
0.67
YEARS SAVED
$2,744
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,210
LIST RENT -
$1.94
LIST RENT PER SQFT
-
$3,203
COMP ESTIMATED VALUE -
$1.94
COMP AVG. RENT PER SQFT
Comps Range
-
13 Beechwood Irvine, CA 3
- 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1980
![property image]()
- Rent
- Rent Per SQFT
- $3,210
- $1.94
-
4 Windwood Irvine, CA 1
- 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 1977
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LEASED 11/14/20- Rent
- Rent Per SQFT
- $3,100
- $1.94
-
5 Driftwood Irvine, CA 2
- 3 beds 3 baths ∙ 1,646 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,646 Sqft ∙ Built 1976
![property image]()
LEASED 07/19/20- Rent
- Rent Per SQFT
- $3,150
- $1.91
-
7 Fernbank Irvine, CA 4
- 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1980
![property image]()
LEASED 01/31/20- Rent
- Rent Per SQFT
- $3,250
- $1.97
-
3 Clove Blossom Irvine, CA 5
- 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1978
![property image]()
LEASED 09/03/20- Rent
- Rent Per SQFT
- $3,250
- $1.93
PROPERTY LISTING DETAILS
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20244898
Last Updated: 12/05/2020
