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2570 Alister Avenue Tustin, CA 92782

4 Beds 3 Baths 2,150 sqft Built 1995

INVESTimate

$998,000

List Price

$3,840

$3,590 - $4,090

Rent Est.

$1,051,193  ( +5.33%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $464.19
  • 3 Days on Market
  • MLS # : OC20174163
  • Updated Date : 08/25/2020 at 17:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,150 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Costa Mesa

Listing Agent's Description

One of the LARGEST LOTS in the community!!! A true turnkey property with an incredibly open floor plan that has been completely remodeled with elegant updates. This fantastic home offers vaulted ceilings with plenty of windows naturally highlighting the open floor plan. Exceptional layout with 4 bedrooms. the 4th bedroom could double as playroom or office on the main level, giving you great flexibility. This functional layout also boasts a finished space in the attic for extra space to use as a playroom or study area. 3 full baths have been updated with Caesarstone vanities!!! Engineered wood flooring throughout the living area, upgraded plush carpeting upstairs screams luxury. Gourmet kitchen showcases beautiful Caesarstone countertops! Cozy family room with fireplace, formal living and dining off the kitchen. Master suite features cathedral ceilings, a spacious en-suite bathroom with soaking tub, frameless glass enclosed shower, dual sinks master and LOFT area making it the ultimate retreat!!! Resort style exterior, full driveway and very private wrap around backyard with patio. Many things to enjoy in this securely gated community, low HOA, pool and spa. Children attend award-winning Schools. Walking distance to Elementary school, Tustin Sports Park and The Marketplace with great shopping and restaurants! Check out a virtual tour of the home at https://youtu.be/dUPyWLUuPBI

SEE MORE

MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Tustin Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k934k

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

Neighborhood: Tustin Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600380040004200Rent in $19814273

* 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
Tustin Ranch Elementary School Primary Regular 679 23 7
Pioneer Middle School Middle Regular 1,248 43 8
Arnold O. Beckman High School High Regular 2,648 94 9

Tustin Ranch Elementary School

  • Education Level: Primary
  • # of students: 679
  • # of teachers: 23
7
GreatSchools Rating

Pioneer Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 43
8
GreatSchools Rating

Arnold O. Beckman High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 94
9
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,456$4,224$3,840

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$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$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,840
EXPENSES Loan Payment -$3,682
Property Tax -$972
Property Insurance -$80
HOA -$220
Property Management Fees -$188
CASH FLOW
-$1,303

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.

$998,000

PROJECTED PRICE

$3,840

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.33%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,840

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $3,812

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,4953$3,5004$3,8405$3,900
$3,900
RENT COMPS ANALYSIS
  • 2570 Alister Avenue Tustin, 4
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $3,840
    • $1.75
    •  
  • 12462 S Lopez Place Tustin, 1
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.70
    •  
  • 42 Heatherton Irvine, 2
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2001
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.66
    •  
  • 52 Willowhurst Irvine, 3
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.75
    •  
  • 56 Asbury Irvine, 5
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 2001
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.82
    •  
PROPERTY LISTING DETAILS
Lynn Wong
Keller Williams Costa Mesa
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20174163
Last Updated: 08/25/2020
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