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14 Canopy Irvine, CA 92603

4 Beds 3 Baths 2,129 sqft Built 2003

$1,100,000

List Price

$3,880

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $516.67
  • 3 Days on Market
  • MLS # : OC21004320
  • Updated Date : 01/08/2021 at 20:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,129 sqft
  • Baths : 2 full , 1 half
Listing Agent

Aspero Realty, Inc

Listing Agent's Description

Great location on picturesque greenbelt / mini-park with oversized yard in upscale Quail Hill's Laurel !! *** Upgrades include solid hardwood flooring with custom tile baths, New designer paint, crown molding, enhanced baseboards, recessed lighting, plantation shutters, integrated speakers, ceiling fans, and multiple French doors *** Gourmet kitchen includes stainless steel appliance package with dedicated 5-burner cooktop and venting system, built-in microwave, and solid granite countertops and island *** Spacious, professionally organized Master closet and Opulent master bath which includes dual vanities, separate make-up station and separate soaking tub and shower *** Fully finished garage with premium epoxy flooring and custom storage *** Walk to acclaimed Alderwood Elementary, community tennis, fitness center, pools, and upscale Quail Hill dining.

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: Laurel

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $272k1641k

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

Neighborhood: Laurel

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200025003000350040004500500055006000Rent in $18176043

* 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
Alderwood Elementary School Primary Regular 835 28 9
Alderwood Elementary School Middle Regular 835 28 9
University High School High Regular 2,527 84 10

Alderwood Elementary School

  • Education Level: Primary
  • # of students: 835
  • # of teachers: 28
9
GreatSchools Rating

Alderwood Elementary School

  • Education Level: Middle
  • # of students: 835
  • # of teachers: 28
9
GreatSchools Rating

University High School

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

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,492$4,268$3,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,880
EXPENSES Loan Payment -$3,821
Property Tax -$1,230
Property Insurance -$78
HOA -$94
Property Management Fees -$190
CASH FLOW
-$1,533

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.

$1,100,000

PROJECTED PRICE

$3,880

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.98%
Appreciation Year (1-5) 4.8%
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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,880

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,843

    COMP ESTIMATED VALUE
  • $1.81

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,4003$3,7004$3,8805$4,000
$4,000
RENT COMPS ANALYSIS
  • 14 Canopy Irvine, CA 4
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $3,880
    • $1.82
    •  
  • 95 Reunion Irvine, CA 1
    • 3 beds 3 baths ∙ 1,959 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,959 Sqft ∙ Built 2004
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.74
    •  
  • 313 Tall Oak Irvine, CA 2
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2003
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.76
    •  
  • 82 Figtree Irvine, CA 3
    • 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2003
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.84
    •  
  • 11 Canopy Irvine, CA 5
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2004
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.88
    •  
PROPERTY LISTING DETAILS
Todd Muradian
Aspero Realty, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21004320
Last Updated: 01/08/2021
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