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16 Alevera Street Irvine, CA 92618

4 Beds 3 Baths 1,550 sqft Built 2002

$850,000

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $548.39
  • 2 Days on Market
  • MLS # : OC20239755
  • Updated Date : 11/14/2020 at 15:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,550 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Newport

Listing Agent's Description

Beautiful light/bright Turnkey DETACHED Town-home in Oak Creek at end of quiet private courtyard. DOWNSTAIRS: OFFICE/bedroom(8.5'x11') built-in cabinets/bookcases, closet, NEW CARPET, and 3/4 Bath. UPSTAIRS: MASTER SUITE has elegant remodeled bath with quartz counters, dual vanities, gorgeous mirrors, Italian slate floor, with stone/tile shower. Two separate shower heads for different heights. Walk-in closet with mirrored door on both sides. TWO ADDITIONAL SPACIOUS BEDROOMS: One with mirrored closet doors and other with custom shelves. Secondary bath has quartz counters, slate floor, 18" deep custom oversized tub, seamless glass doors and shower head with two adjustable heights. NEW CARPET on stairs and in ALL bedrooms. 100% waterproof Luxury SPC grey/wood design flooring in downstairs Living/Dining/Kitchen. Designer paint, 9' Ceilings, Crown Molding, Dual Pane Windows, Wood shutters, Custom blinds, Curtains. KITCHEN has porcelain non stain counters and surrounding backsplash. Newer Sink/ Microwave/ Dishwasher. NEW faucet. NEW gas range stove, NEW REFRIGERATOR, LG Washer/Dryer INCLUDED in Laundry, in garage adjacent to kitchen. Dining room has sliding glass door with phantom screen leading onto stone patio with tranquil water fountain. 2 separate garages with direct access into home. Valley Oak Park. Oak Creek Park. Raven Creek Park. Tennis Courts. Basketball Courts. Clubhouse. Pools. Close to 405 & 5 Fwys, UCI, Irvine Spectrum, Corporate Offices, Kaiser and Hoag Hospitals.

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: Oak Creek

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $252k943k

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

Neighborhood: Oak Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $16893818

* 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
Oak Creek Elementary School Primary Regular 876 30 8
Lakeside Middle School Middle Regular 650 21 10
Woodbridge High School High Regular 2,480 82 10

Oak Creek Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 30
8
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 650
  • # of teachers: 21
10
GreatSchools Rating

Woodbridge High School

  • Education Level: High
  • # of students: 2,480
  • # of teachers: 82
10
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$2,988$3,652$3,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,320
EXPENSES Loan Payment -$3,136
Property Tax -$885
Property Insurance -$65
HOA -$139
Property Management Fees -$163
CASH FLOW
-$1,067

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.

$850,000

PROJECTED PRICE

$3,320

PROJECTED RENT

0.39%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,003

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,320

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $3,333

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$3,320
1$3,3202$3,3503$3,3504$3,4005$3,800
$3,800
RENT COMPS ANALYSIS
  • 16 Alevera Street Irvine, CA 1
    • 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $3,320
    • $2.14
    •  
  • 15 Alevera Street Irvine, CA 2
    • 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 2003
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.16
    •  
  • 58 Alevera Street Irvine, CA 3
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2002
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.19
    •  
  • 102 Millbrook Irvine, CA 4
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2000
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.05
    •  
  • 96 Millbrook Irvine, CA 5
    • 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 2000
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.20
    •  
PROPERTY LISTING DETAILS
Kathryn Olson
Keller Williams Realty Newport
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20239755
Last Updated: 11/14/2020
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