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2 Stonewood Irvine, CA 92604

3 Beds 1 Baths 1,321 sqft Built 1978

$825,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $624.53
  • 4 Days on Market
  • MLS # : OC21033114
  • Updated Date : 02/26/2021 at 17:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,321 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

**WOW** Fantastic opportunity to own this charming 3 BR, single-level home. Situated on a premium end-unit cul de sac in the desirable Woodbridge community. The property features an open, airy, spacious floor plan. Enjoy the high vaulted ceilings, large windows, upgraded doors, hardware, moldings, and beautiful bamboo flooring. Open Kitchen has tastefully updated cabinets, Corian countertops, stainless steel hood & a lovely garden window. The inviting family room boasts a travertine fireplace and opens to the light-filled dining room overlooking the beautiful, private bricked backyard. Freshly painted and wonderfully updated with a newly installed water heater, central air, ceiling fans, closet organizers, and designer lights. Spa-like features in all Bathrooms, travertine, slate, updated tub, sinks, shower door & much more. A second charming bricked patio leads off the master bedroom. Large 2 car garage has a window & shelf storage with laundry hook-up inside. Situated in the Irvine School District this resort-style Woodbridge community includes pristine swimming pools, multiple parks & lakes, playgrounds, tennis club, basketball & volleyball courts, hiking trails, and a golf course that completes this stunning community. NO MELLO ROOS! A perfect 10 you will not want to miss seeing!

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: Parkview East

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $268k943k

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

Neighborhood: Parkview East

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19423818

* 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
Lakeside Middle School Middle Regular 650 21 10
Woodbridge High School High Regular 2,480 82 10
Woodbridge High School High Unknown NA

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

Woodbridge High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$742,500$907,500$825,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,866
Property Tax -$750
Property Insurance -$59
HOA -$105
Property Management Fees -$138
CASH FLOW
-$1,098

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.

$825,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.34%

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$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,866

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$200

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $2,847

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8203$3,1004$3,1505$3,200
$3,200
RENT COMPS ANALYSIS
  • 2 Stonewood Irvine, CA 2
    • 3 beds 1 baths ∙ 1,321 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,321 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $2.13
    •  
  • 43 Alderwood Irvine, CA 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1978
    LEASED 12/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.17
    •  
  • 4881 Gainsport Circle Irvine, CA 3
    • 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1971
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.11
    •  
  • 11 Springwater Irvine, CA 4
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1980
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.11
    •  
  • 44 Sandpiper Irvine, CA 5
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1976
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.23
    •  
PROPERTY LISTING DETAILS
Jeff Roehrick
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21033114
Last Updated: 02/26/2021
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