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14 Greenwood Irvine, CA 92604

3 Beds 2 Baths 1,642 sqft Built 1976

$710,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1976
  • Price/Sqft : $432.40
  • 6 Days on Market
  • MLS # : WS20224940
  • Updated Date : 10/30/2020 at 13:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,642 sqft
  • Baths : 1 full , 1 half
Listing Agent

Irn Realtors/r.h.

Listing Agent's Description

Best spot in the community! Great end unit facing Hoeptner Park: beautiful trees on grass fields with playground and tennis court! Large living room features mantle, fireplace, and window overlooking park. Sundrenched kitchen views large, private brick patio. All three Bedrooms are upstairs. High ceiling in spacious master bedroom with another fireplace and walk-in closet. Other features included: upgraded all windows to dual panes. recessed lighting, crown molding, central air/heat, fireplaces. 2 car garage off the patio. Award winning Irvine schools. 3D virtual tours is ready view.

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: Smoketree

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $224k943k

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

Neighborhood: Smoketree

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $17783818

* 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
Deerfield Elementary School Primary Regular 671 21 8
Deerfield Elementary School Middle Regular 671 21 8
Irvine High School High Regular 1,968 64 9

Deerfield Elementary School

  • Education Level: Primary
  • # of students: 671
  • # of teachers: 21
8
GreatSchools Rating

Deerfield Elementary School

  • Education Level: Middle
  • # of students: 671
  • # of teachers: 21
8
GreatSchools Rating

Irvine High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 64
9
GreatSchools Rating
 

$639,000$781,000$710,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,620
Property Tax -$633
Property Insurance -$67
HOA -$335
Property Management Fees -$162
CASH FLOW
-$516

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.

$710,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$193,900

INVESTMENT

$193,900

Down Payment
$177,500
Rehab Estimate
$5,750
Closing Costs
$10,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $177,500
Loan Amount $532,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$12,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $3,395

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,2504$3,3005$3,400
$3,400
RENT COMPS ANALYSIS
  • 14 Greenwood Irvine, CA 4
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.01
    •  
  • 5 Amberwood Irvine, CA 1
    • 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1975
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.98
    •  
  • 14832 Dahlquist Road Irvine, CA 2
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1971
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.16
    •  
  • 14571 Ryewood Street Irvine, CA 3
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1970
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.06
    •  
  • 5271 Bordeaux Avenue Irvine, CA 5
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1970
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.07
    •  
PROPERTY LISTING DETAILS
Edward Hsu
Irn Realtors/r.h.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20224940
Last Updated: 10/30/2020
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