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17362 Sandalwood Irvine, CA 92612

3 Beds 2 Baths 1,532 sqft Built 1973

$765,000

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $499.35
  • 6 Days on Market
  • MLS # : OC20231852
  • Updated Date : 11/13/2020 at 12:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,532 sqft
  • Baths : 2 full
Listing Agent

Reliable Real Estate Group

Listing Agent's Description

PRESTIGIOUS LOCATION; TERRACE SUBDIVISION IN UNIVERSITY PARK, IRVINE. THIS SINGLE STORY HOUSE SITS ON A CORNER LOT, OFFERING PRIVACY. SPACIOUS FLOOR PLAN INCLUDES; OPEN DINING ROOM, IN ADDITION TO BREAKFAST AREA, AND A LARGE LIVING ROOM WITH A COZY FIREPLACE AND DIRECT ACCESS TO A PRIVATE BACKYARD/PATIO SETTING, INDOOR LAUNDRY & UPDATED WINDOWS AND 30YR TILE ROOF, 10YR OLD A/C. GREAT HOA ASSOCIATION ($234 MO.) INCLUDES; 2 COMMUNITY POOLS, BBQ AREAS AND PLAYGROUND. COME AND EXPERIENCE ONE OF ORANGE COUNTIES BEST NEIGHBORHOODS, TOP RATED IRVINE UNIFIED SCHOOL DISTRICT, NEARBY UNIVERSITIES (UCI), RETAIL SHOPS, FWYS, AND ONE OF IRVINE'S LOWEST TAX RATE.

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: Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $233k943k

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

Neighborhood: Terrace

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $15863818

* 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
University Park Elementary School Primary Regular 541 19 7
Rancho San Joaquin Middle School Middle Regular 856 24 9
University High School High Regular 2,527 84 10

University Park Elementary School

  • Education Level: Primary
  • # of students: 541
  • # of teachers: 19
7
GreatSchools Rating

Rancho San Joaquin Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 24
9
GreatSchools Rating

University High School

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

$688,500$841,500$765,000

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$2,823
Property Tax -$682
Property Insurance -$64
HOA -$234
Property Management Fees -$170
CASH FLOW
-$512

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.

$765,000

PROJECTED PRICE

$3,460

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.3%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$208,475

INVESTMENT

$208,475

Down Payment
$191,250
Rehab Estimate
$5,750
Closing Costs
$11,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,823

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $191,250
Loan Amount $573,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$16,537

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,460

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $3,455

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,3004$3,4605$3,500
$3,500
RENT COMPS ANALYSIS
  • 17362 Sandalwood Irvine, CA 4
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $2.26
    •  
  • 5286 Plum Tree Irvine, CA 1
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1974
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.09
    •  
  • 5162 Maple Irvine, CA 2
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1974
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.29
    •  
  • 5151 Thorn Tree Lane Irvine, CA 3
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1975
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.36
    •  
  • 5201 Thorn Tree Lane Irvine, CA 5
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1974
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.28
    •  
PROPERTY LISTING DETAILS
Elvia Gonzalez
Reliable Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20231852
Last Updated: 11/13/2020
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