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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $410.71
- 14 Days on Market
- MLS # : OC21005808
- Updated Date : 01/22/2021 at 09:56
CONSTRUCTION
- Beds : 4
- Floor Size : 1,765 sqft
- Baths : 3 full
Listing Agent
The Global Equities Group
Listing Agent's Description
This house must be seen! This highly sought after floor plan has a nice size downstairs bedroom and bathroom as well as cozy dining room, great room area and eat in kitchen. The charming back yard has been redone with pavers and lovely landscaping making it a great place to play with the kids or entertain weekend guests. Once you go upstairs you are greeted with an additional 3 bedrooms. The Master Suite has a recently modified walk in closet, and new extra large shower. The second bedroom upstairs also has its own bathroom. Recently added, and absolutely stunning, permitted, large fourth bedroom with lovely views of the back yard. This house also has a charming loft area complete with cabinets and a closet for additional storage. The garage has recently been finished, and sports a new coating of epoxy flooring. Finishing off this charming home is new wall to wall vinyl plank flooring and a charming faux brick fireplace. Don't miss this terrific opportunity to own in Portola Hills, walking distance from fabulous HOA amenities, including a huge pool and spa, tennis courts, tot lots, basketball court, picnic and party areas for friends and family to gather. Walking, hiking & biking trails with breathtaking views! Close to award winning Portola Hills Elementary, Whiting Ranch and just 10 minutes from Irvine Spectrum.
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MARKET HIGHLIGHTS
- 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.
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Portola Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Portola Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,090 |
| EXPENSES | Loan Payment | -$2,518 |
| Property Tax | -$616 | |
| Property Insurance | -$70 | |
| HOA | -$145 | |
| Property Management Fees | -$151 | |
|
CASH FLOW
-$410
|
||
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.
$724,900
PROJECTED PRICE
$3,090
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.81% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$197,849
LOAN DETAILS
$2,518
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $181,225 |
| Loan Amount | $543,675 |
2.58
YEARS SAVED
$15,522
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,090
LIST RENT -
$1.75
LIST RENT PER SQFT
-
$3,367
COMP ESTIMATED VALUE -
$1.91
COMP AVG. RENT PER SQFT
Comps Range
-
18992 Singingwood Circle Lake Forest, CA 1
- 4 beds 3 baths ∙ 1,765 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,765 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $3,090
- $1.75
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28845 Woodspring Circle Lake Forest, CA 2
- 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1988
LEASED 07/02/20- Rent
- Rent Per SQFT
- $3,150
- $1.94
-
19491 Dorado Drive Lake Forest, CA 3
- 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1991
LEASED 06/04/20- Rent
- Rent Per SQFT
- $3,200
- $1.78
-
19041 Wildwood Circle Lake Forest, CA 4
- 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1987
LEASED 01/12/21- Rent
- Rent Per SQFT
- $3,200
- $1.98
-
28871 Mountain View Lane Lake Forest, CA 5
- 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1987
LEASED 01/14/21- Rent
- Rent Per SQFT
- $3,295
- $1.93
PROPERTY LISTING DETAILS
The Global Equities Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21005808
Last Updated: 01/22/2021
