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153 Huntington Irvine, CA 92620

3 Beds 3 Baths 1,224 sqft Built 1986

$650,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $531.05
  • 4 Days on Market
  • MLS # : OC21047935
  • Updated Date : 03/25/2021 at 22:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,224 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group West

Listing Agent's Description

This 3-bed/2.5-bath end-unit townhome is a rare find in Irvine's desirable Northwood Horizon community, w/a bright & open floor plan, nobody above or below. Rich wood laminate flooring throughout, NEW LED light fixtures indoors and outdoors. The kitchen features a full backsplash, Corian countertop, dual sink, Samsung 5-burner electric range, LG microwave, BRAND NEW GE dishwasher, plenty of cabinet space. Newer paint throughout. New double-paned energy-efficient vinyl windows/patio door installed in less than 6-month. Enjoy the private/cozy patio. A skylight brings natural light to the stairway area. Crown molding throughout 2nd floor. The master bedroom overlooks the greenbelt, features a BRAND NEW walk-in shower/toilet, double vanity, double mirrored closets. The other two bedrooms share the bathroom w/a brand NEW bathtub/toilet. Convenient downstairs indoor laundry. Downstairs guest bathroom. Detached 1-car shared garage + 1 covered carport + extra street parking. Community amenities include pools, spas, and playgrounds. This home is just minutes away from Jeffrey Trail Middle School, Northwood High, various parks and outdoor spaces (walking distance to the nearby Orchard Park), the Heritage Library, groceries, entertainment, and restaurants. 12-min drive to UCI. 10-min to the Great Park. 10-min to Spectrum. 15-min to John Wayne Airport. 20-min to the beach. Easy access to FWY 5. A low HOA fee & No Mello-Roos tax make this charming, ready-to-move-in home a great value!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northwood Horizons

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $161k943k

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

Neighborhood: Northwood Horizons

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $15623818

* 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
Sierra Vista Middle School Middle Regular 733 21 9
Irvine High School High Regular 1,968 64 9
Sierra Vista Middle School Middle Unknown NA

Sierra Vista Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 21
9
GreatSchools Rating

Irvine High School

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

Sierra Vista Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,258
Property Tax -$592
Property Insurance -$57
HOA -$290
Property Management Fees -$127
CASH FLOW
-$734

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.

$650,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.2%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$755

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $2,619

    COMP ESTIMATED VALUE
  • $2.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5903$2,9004$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 153 Huntington Irvine, CA 2
    • 3 beds 3 baths ∙ 1,224 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,224 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $2.12
    •  
  • 9 Springfield Irvine, CA 1
    • 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1977
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.14
    •  
  • 45 Appomatox Irvine, CA 3
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1986
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.07
    •  
  • 11 Gainesmill Irvine, CA 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1985
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.19
    •  
  • 16 Magellan Aisle Irvine, CA 5
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1989
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.16
    •  
PROPERTY LISTING DETAILS
Michael Wu
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21047935
Last Updated: 03/25/2021
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