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26 Grant Irvine, CA 92620

3 Beds 2 Baths 1,672 sqft Built 1977

$930,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $556.22
  • 5 Days on Market
  • MLS # : OC21026625
  • Updated Date : 02/13/2021 at 18:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,672 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Hard to find single level home in Northwood! Great location to schools, parks, etc. Many many upgrades have been completed for you. Let's start with the newer Milgard vinyl windows throughout, gourmet kitchen with commercial 6 burner dual fuel Thermador gas stove, Thermador vent, Bosch dishwasher, garden window, granite counters, and custom Birchwood cabinets with pot and pan drawers. There is a wall of pantry space and a custom dry bar area with wine cooler. Teak wood flooring in the entry and family room. The rest of the home has porcelain tile floors. Hall bath updated with granite counters, newer fixtures, and lighting. The secondary bedrooms are good sized. And now for the master bath that was just completed! Adult high counters with new cabinets, quartz countertop, updated fixtures, lighting, and more. The shower has been made into a walk-in with custom tile. Tankless water heater, newer 2 stage forced air furnace, and a/c with updated ducting in the attic. And lastly, a solar system that is fully paid for so you have no electricity bills and in fact, get paid money back. Lots of behind the scene expenses have been done and now it is time to let their new buyer finish the decor and make it their own. Very private backyard with minimal maintenance. New Trex decking and built-in BBQ area. Just one block to Northwood Elementary school and located in the Northwood High School District! No association dues & no-mellos roos make this home very affordable.

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: Northwood

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k943k

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

Neighborhood: Northwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813818

* 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
 

$837,000$1,023,000$930,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$3,230
Property Tax -$831
Property Insurance -$67
Property Management Fees -$157
CASH FLOW
-$1,085

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.

$930,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$252,200

INVESTMENT

$252,200

Down Payment
$232,500
Rehab Estimate
$5,750
Closing Costs
$13,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,230

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $232,500
Loan Amount $697,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $3,361

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,990
1$2,9902$3,1003$3,1504$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 26 Grant Irvine, CA 4
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.91
    •  
  • 19 Potomac Irvine, CA 1
    • 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 1985
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.95
    •  
  • 30 Fremont Irvine, CA 2
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1978
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.05
    •  
  • 17 Lewis Irvine, CA 3
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1980
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.09
    •  
  • 13 Grant Irvine, CA 5
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1978
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.95
    •  
PROPERTY LISTING DETAILS
Janice Konkol
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21026625
Last Updated: 02/13/2021
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