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19446 Highridge Way Lake Forest, CA 92679

3 Beds 3 Baths 1,999 sqft Built 1992

$759,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $379.69
  • 2 Days on Market
  • MLS # : SB20244421
  • Updated Date : 12/05/2020 at 20:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,999 sqft
  • Baths : 2 full , 1 half
Listing Agent

New Star Realty & Investment

Listing Agent's Description

This wonderful paired home boasts amazing views of Saddleback Mountain. Located in the fantastic community of Portola Hills, this friendly neighborhood home is walking distance to the award winning Portola Hills elementary school and Concourse Park. Spacious 3 bedroom, 2.5 bathroom, inside laundry, two fireplaces including one in the master bedroom, two car attached garage, cathedral ceilings, remodeled kitchen counter top and appliances, all laminate floor down stairs and upstairs and much more. Low HOA and no Mello Roos. Conveniently located to shopping and entertainment.

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: Portola Hills

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900k950kPrice in $272k952k

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

Neighborhood: Portola Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $19684166

* 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
Portola Hills Elementary School Primary Regular 764 28 9
Portola Hills Elementary School Middle Regular 764 28 9
El Toro High School High Magnet 2,548 98 8

Portola Hills Elementary School

  • Education Level: Primary
  • # of students: 764
  • # of teachers: 28
9
GreatSchools Rating

Portola Hills Elementary School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 28
9
GreatSchools Rating

El Toro High School

  • Education Level: High
  • # of students: 2,548
  • # of teachers: 98
8
GreatSchools Rating
 

$683,100$834,900$759,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,800
Property Tax -$646
Property Insurance -$75
HOA -$150
Property Management Fees -$152
CASH FLOW
-$724

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.

$759,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$206,885

INVESTMENT

$206,885

Down Payment
$189,750
Rehab Estimate
$5,750
Closing Costs
$11,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,800

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $189,750
Loan Amount $569,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$6,077

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $3,228

    COMP ESTIMATED VALUE
  • $1.62

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1003$3,1004$3,1955$3,200
$3,200
RENT COMPS ANALYSIS
  • 19446 Highridge Way Lake Forest, CA 3
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.55
    •  
  • 19392 Dorado Drive Lake Forest, CA 1
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1993
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.55
    •  
  • 19412 Dorado Drive Lake Forest, CA 2
    • 3 beds 4 baths ∙ 2,030 Sqft ∙ Built 1995 3 beds 4 baths ∙ 2,030 Sqft ∙ Built 1995
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.53
    •  
  • 19426 Highridge Way Trabuco Canyon, CA 4
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1993
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.60
    •  
  • 19491 Dorado Drive Lake Forest, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Magdalena Kim
New Star Realty & Investment
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20244421
Last Updated: 12/05/2020
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