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13181 Wickshire Lane Tustin, CA 92782

4 Beds 2 Baths 2,054 sqft Built 1968

$997,500

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $485.64
  • 4 Days on Market
  • MLS # : OC21013615
  • Updated Date : 02/04/2021 at 14:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,054 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Welcome home to this beautifully upgraded 4 bedroom, 2 bath home located on private cul-de-sac. Upon Entering the home you will be greeted with a dramatic vaulted ceilings custom flooring and open concept living with an abundance of natural light. The gourmet Chefs kitchen is the heart of the home and features white shaker cabinets, quartz countertops, industrial stainless steel appliances, and custom eating bar. The open floorplan connects the kitchen with the spacious family room that features a cozy fireplace and panoramic views of the tropical oasis backyard. Custom newer dual pain windows throughout with fresh paint and crown molding. The completely renovated master features private retreat with grand views of the back yard, and 2 large floor to ceiling closets with built ins along with a spacious Master bath dual vanity and luxurious walk in shower. With 3 additional bedrooms this home is perfect for the expanding family. The recently refreshed backyard was designed for entertaining with herb garden, a custom pool and spa with separate areas to retreat and relax. Also featuring solar panels, recent repipe with PEX, newer whole-house water filter system and mature Bacon Avocado tree that produces over 500 fruits per season! This home is located in one of the most highly desired areas in the Beckman 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: Red Hill

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Red Hill

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813818

* 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
Red Hill Elementary School Primary Regular 582 21 8
Utt Middle School Middle Regular 945 34 5
Arnold O. Beckman High School High Regular 2,648 94 9

Red Hill Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 21
8
GreatSchools Rating

Utt Middle School

  • Education Level: Middle
  • # of students: 945
  • # of teachers: 34
5
GreatSchools Rating

Arnold O. Beckman High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 94
9
GreatSchools Rating
 

$897,750$1,097,250$997,500

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$3,465
Property Tax -$956
Property Insurance -$77
HOA -$20
Property Management Fees -$173
CASH FLOW
-$1,151

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.

$997,500

PROJECTED PRICE

$3,540

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,088

INVESTMENT

$270,088

Down Payment
$249,375
Rehab Estimate
$5,750
Closing Costs
$14,963

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,465

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,375
Loan Amount $748,125
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $1.72

    LIST RENT PER SQFT
  • $3,512

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4753$3,5404$3,7005$3,795
$3,795
RENT COMPS ANALYSIS
  • 13181 Wickshire Lane Tustin, CA 3
    • 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $1.72
    •  
  • 13132 Ranchwood Road Tustin, CA 1
    • 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 1968
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.61
    •  
  • 13322 Diamond Head Drive Tustin, CA 2
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1962
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $1.73
    •  
  • 1151 Letty Lane Tustin, CA 4
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1963
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.81
    •  
  • 13162 Silver Birch Drive Tustin, CA 5
    • 5 beds 3 baths ∙ 2,243 Sqft ∙ Built 1964 5 beds 3 baths ∙ 2,243 Sqft ∙ Built 1964
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.69
    •  
PROPERTY LISTING DETAILS
Dave George
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21013615
Last Updated: 02/04/2021
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