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18 Crestline #106 Irvine, CA 92602

3 Beds 3 Baths 1,549 sqft Built 2001

$720,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $464.82
  • 3 Days on Market
  • MLS # : PW21029973
  • Updated Date : 02/13/2021 at 14:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,549 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

Welcome to 18 Crestline in Irvine. This beautiful end unit Mandeville condo offers a very private interior location and plenty of living space with it large and open floor plan . The unit is light and Bright features 3 bedrooms plus a loft/office, 2.5 baths, a Cozy Living Room, Built-in Media Center and Fireplace. The Gourmet Kitchen is equipped with quartz Countertops, stone backsplash, new stainless steel appliances and white cabinets , open are to the Dining Room. The Master Suite offers a Large Walk-in Closet, upgraded quartz Dual Sink Vanity, Shower with Glass Enclosure . There are two additional good size bedrooms that share a hallway bathroom also upgraded. The Upstairs LOFT with built-in desk is ideal space for a home office. Additional features include new beautiful neutral carpet, new interior paint, Inside Laundry Room, Recessed Lighting, 2 Car Garage with direct access and a superb location with views to the walk in trails and bike trails and close to the tennis courts and within walking distance to the award winning Myford Elementary School, nearby parks, and community Pool, Spa and Sport Courts. easy access to major shopping, dining and freeways.

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: Andover

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $257k943k

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

Neighborhood: Andover

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $16733818

* 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
Myford Elementary School Primary Regular 756 27 7
Pioneer Middle School Middle Regular 1,248 43 8
Arnold O. Beckman High School High Regular 2,648 94 9

Myford Elementary School

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 27
7
GreatSchools Rating

Pioneer Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 43
8
GreatSchools Rating

Arnold O. Beckman High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 94
9
GreatSchools Rating
 

$648,000$792,000$720,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,501
Property Tax -$765
Property Insurance -$65
HOA -$195
Property Management Fees -$144
CASH FLOW
-$729

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.

$720,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.8%
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-$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$196,550

INVESTMENT

$196,550

Down Payment
$180,000
Rehab Estimate
$5,750
Closing Costs
$10,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,501

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $180,000
Loan Amount $540,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $3,075

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9403$2,9504$3,0005$3,400
$3,400
RENT COMPS ANALYSIS
  • 18 Crestline Irvine, CA 2
    • 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $1.90
    •  
  • 61 Sapphire Irvine, CA 1
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2001
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.93
    •  
  • 19 Sagamore Irvine, CA 3
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2001
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.97
    •  
  • 94 Topaz Irvine, CA 4
    • 3 beds 3 baths ∙ 1,473 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,473 Sqft ∙ Built 2001
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.04
    •  
  • 49 Willowhurst Irvine, CA 5
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2001
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.00
    •  
PROPERTY LISTING DETAILS
Paula Aragone
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21029973
Last Updated: 02/13/2021
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