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21 Abeto Irvine, CA 92620

5 Beds 3 Baths 2,864 sqft Built 1978

$1,200,000

List Price

$4,220

$4K - $4.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $418.99
  • 4 Days on Market
  • MLS # : OC21030508
  • Updated Date : 03/18/2021 at 15:56
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,864 sqft
  • Baths : 3 full
Listing Agent

Corliss Realty Inc

Listing Agent's Description

In this well-established Irvine neighborhood called “Woodside” is this wonderful 4-bedroom (could be a 5 or 6 bedroom!), 3-bathroom home with newer eye-catching flooring and newer paint in a pleasing neutral color. On the main floor there is one bedroom and a full bathroom, a kitchen that opens up to the family room and the backyard and patio. The living room overlooks the front yard and the dining room is perfectly situated to extend your table to accommodate a large crowd for those important holidays. Upstairs is the master bedroom with a nice retreat, bathroom and a cozy fireplace. There are two more bedrooms that share a full bathroom along with a nice bonus room that can be used as another bedroom, playroom, workout room or whatever you like. The 2-car garage, with plenty of storage, has a roll-up door with windows. In the backyard a surprise awaits…the most delicious tasting oranges from a beautiful tree in the corner of the yard. There is also a brand-new patio cover. The sun shines on the backyard much of the day allowing friends and family to enjoy the outdoors, gardening, a barbecue or even soaking up some rays. The Woodside community area is located up the street and has a swimming pool, 2 tennis courts, and a tot-lot. Centrally located, this property is close to numerous dining, entertainment and shopping areas as well as Hicks Canyon Trail which has been described as “an oasis of quiet and loveliness right in the heart of OC”.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Woodside

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $272k1355k

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

Neighborhood: Woodside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813909

* 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
Sierra Vista Middle School Middle Regular 733 21 9
Northwood High School High Regular 2,173 72 9
Sierra Vista Middle School Middle Unknown NA

Sierra Vista Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 21
9
GreatSchools Rating

Northwood High School

  • Education Level: High
  • # of students: 2,173
  • # of teachers: 72
9
GreatSchools Rating

Sierra Vista Middle School

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

$1,080,000$1,320,000$1,200,000

PURCHASE PRICE

$3,798$4,642$4,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,220
EXPENSES Loan Payment -$4,168
Property Tax -$1,077
Property Insurance -$96
HOA -$135
Property Management Fees -$207
CASH FLOW
-$1,463

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.

$1,200,000

PROJECTED PRICE

$4,220

PROJECTED RENT

0.35%

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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,168

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $300,000
Loan Amount $900,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,220

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $4,432

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,2003$4,2204$4,4005$4,750
$4,750
RENT COMPS ANALYSIS
  • 21 Abeto Irvine, CA 3
    • 5 beds 3 baths ∙ 2,864 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,864 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,220
    • $1.47
    •  
  • 20 W Ensueno Irvine, CA 1
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 1978
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.49
    •  
  • 12 E Glorieta E Irvine, CA 2
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1979
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.57
    •  
  • 32 Alegria Irvine, CA 4
    • 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 1977
    property image
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $1.49
    •  
  • 8 Heatherwood Irvine, CA 5
    • 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 1995
    property image
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $1.64
    •  
PROPERTY LISTING DETAILS
Danielle Corliss
Corliss Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21030508
Last Updated: 03/18/2021
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