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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $518.03
- 3 Days on Market
- MLS # : OC21022805
- Updated Date : 02/05/2021 at 20:09
CONSTRUCTION
- Beds : 4
- Floor Size : 1,930 sqft
- Baths : 2 full
Listing Agent
Aspero Realty, Inc
Listing Agent's Description
PREMIUM corner lot location with curb appeal and hillside views in upscale Quail Hill featuring a private courtyard entry, four bedrooms (one on the MAIN LEVEL) plus LOFT, two sun-splashed balconies, 2.75 baths, and an oversized direct access garage!! Designer upgrades include elegant laminate and tile flooring, PLUSH new carpet and fresh paint. The spacious kitchen features granite countertops, an island, built-in microwave and a walk-in pantry! Enjoy a master suite with a walk-in closet, charming balcony as well as master bath with dual vanities, separate shower and soaking tub! This flowing floor plan has a romantic fireplace design niches, and convenient upstairs laundry room! Enjoy award-winning schools and resort style pools, spas, tennis, sport courts, tot-lots, upscale Quail Hill shopping, dining and more!!!
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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: Quail Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Quail Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,530 |
| EXPENSES | Loan Payment | -$3,473 |
| Property Tax | -$1,109 | |
| Property Insurance | -$74 | |
| HOA | -$103 | |
| Property Management Fees | -$173 | |
|
CASH FLOW
-$1,402
|
||
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.
$999,800
PROJECTED PRICE
$3,530
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 3.9% |
| 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
$270,697
LOAN DETAILS
$3,473
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $249,950 |
| Loan Amount | $749,850 |
0.17
YEARS SAVED
$118
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,530
LIST RENT -
$1.83
LIST RENT PER SQFT
-
$3,517
COMP ESTIMATED VALUE -
$1.82
COMP AVG. RENT PER SQFT
Comps Range
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214 Tuberose Irvine, CA 4
- 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 2003
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- Rent
- Rent Per SQFT
- $3,530
- $1.83
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45 Stepping Stone Irvine, CA 1
- 3 beds 3 baths ∙ 1,753 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,753 Sqft ∙ Built 2004
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LEASED 10/06/20- Rent
- Rent Per SQFT
- $3,100
- $1.77
-
110 Stepping Stone Irvine, CA 2
- 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2004
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LEASED 04/28/20- Rent
- Rent Per SQFT
- $3,500
- $1.87
-
237 Terra Cotta Irvine, CA 3
- 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 2004
![property image]()
LEASED 01/16/21- Rent
- Rent Per SQFT
- $3,500
- $1.81
-
82 Figtree Irvine, CA 5
- 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2003
![property image]()
LEASED 02/15/20- Rent
- Rent Per SQFT
- $3,700
- $1.84
PROPERTY LISTING DETAILS
Aspero Realty, Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21022805
Last Updated: 02/05/2021
