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23 Stepping Stone Irvine, CA 92603

3 Beds 3 Baths 1,683 sqft Built 2004

$775,000

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $460.49
  • 7 Days on Market
  • MLS # : OC21048088
  • Updated Date : 03/12/2021 at 17:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,683 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Irvine

Listing Agent's Description

This exclusive home features high ceilings, private front porch, and captivating hillside views! Indulge in tasteful finishes throughout including travertine stone flooring, crown molding with “cove” lighting, custom-fitted plantation shutters and window shades, and recessed lighting. Chef-inspired gourmet kitchen opens to a formal dining room with quartz countertops, full decorative glass backsplash, and all stainless steel appliances. This home boasts a spacious living room with a custom glass fireplace and natural light permeating throughout. Enjoy world-class amenities exclusive to Quail Hill residents. 5 parks, 3 pools, fitness center, and hiking trails all inspired by the warm ambiance of their surrounding environment. The home is walking distance to "Blue Ribbon" Alderwood Elementary located in one of the most coveted school districts in the nation. There is so much value in this beautiful home. Do not miss out!

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: Sandal Wood

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $272k1059k

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

Neighborhood: Sandal Wood

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $14723818

* 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
Rancho San Joaquin Middle School Middle Regular 856 24 9
University High School High Regular 2,527 84 10
Rancho San Joaquin Middle School Middle Unknown NA

Rancho San Joaquin Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 24
9
GreatSchools Rating

University High School

  • Education Level: High
  • # of students: 2,527
  • # of teachers: 84
10
GreatSchools Rating

Rancho San Joaquin Middle School

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

$697,500$852,500$775,000

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$2,692
Property Tax -$882
Property Insurance -$68
HOA -$265
Property Management Fees -$170
CASH FLOW
-$616

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.

$775,000

PROJECTED PRICE

$3,460

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.5%
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-$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$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,692

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,316

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,460

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $3,269

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,4003$3,4604$3,5005$3,590
$3,590
RENT COMPS ANALYSIS
  • 23 Stepping Stone Irvine, CA 3
    • 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $2.06
    •  
  • 86 Stepping Stone Irvine, CA 1
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2004
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.79
    •  
  • 102 Millbrook Irvine, CA 2
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2000
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.05
    •  
  • 110 Stepping Stone Irvine, CA 4
    • 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2004
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.87
    •  
  • 38 Seasons Irvine, CA 5
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2003
    property image
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $2.06
    •  
PROPERTY LISTING DETAILS
Willis Lee
Keller Williams Realty Irvine
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21048088
Last Updated: 03/12/2021
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