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133 Barnes Road Tustin, CA 92782

4 Beds 3 Baths 2,222 sqft Built 2016

$949,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $427.09
  • 3 Days on Market
  • MLS # : NP20230510
  • Updated Date : 11/01/2020 at 20:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,222 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

This lovely home is nestled in Greenwood at Tustin Legacy. The residence is comprised of 4 bedrooms, 3 bathrooms including a main floor master suite and an additional bedroom and bath. Chef inspired kitchen with granite counter tops, center island with upgraded backsplash, stainless steel appliances open to the great room and dining area. Master suite offers his and hers vanities and a walk-in shower. The residence offers SOLAR PANELS ALL PAID FOR (approximately $16,000) and wood floors. Second level boasts two additional bedrooms and a bath and a bonus room or secondary living room. The community offers its homeowners resort inspired living that includes Ron Foell Park and The Legacy Club. Located in the center of Orange County, homeowners enjoy a walkable neighborhood atmosphere, easy access to shopping & dining at the District, beaches, freeways, major employment centers & John Wayne Airport. Trails, Parks, & Open Spaces, picnic pavilions. Full-size basketball court, 2 bocce ball courts, play areas, clubhouse with catering Kitchen, covered outdoor living space. Resort-style pool and spa, interactive water play area, Fire pits & barbecues, Private restrooms & showers. Magnet middle and high school.

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: Tustin Legacy

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k946k

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

Neighborhood: Tustin Legacy

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000420044004600Rent in $19814714

* 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
Heritage Elementary School Primary Regular 7
A. G. Currie Middle School Middle Regular 763 28 3
Tustin High School High Regular 2,304 86 7

Heritage Elementary School

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

A. G. Currie Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 28
3
GreatSchools Rating

Tustin High School

  • Education Level: High
  • # of students: 2,304
  • # of teachers: 86
7
GreatSchools Rating
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$3,501
Property Tax -$933
Property Insurance -$81
HOA -$290
Property Management Fees -$186
CASH FLOW
-$1,191

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.

$949,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,800

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $3,766

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,5003$3,6004$3,8005$3,800
$3,800
RENT COMPS ANALYSIS
  • 133 Barnes Road Tustin, CA 5
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.71
    •  
  • 80 Fringe Tree Irvine, CA 1
    • 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2006
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.60
    •  
  • 3322 Columbus Grove Drive Tustin, CA 2
    • 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 2007
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.71
    •  
  • 91 Barnes Road Tustin, CA 3
    • 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2016
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.68
    •  
  • 62 Barnes Rd Tustin, CA 4
    • 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 2016
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.79
    •  
PROPERTY LISTING DETAILS
Mehdi Khosh
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP20230510
Last Updated: 11/01/2020
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