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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $474.65
- 5 Days on Market
- MLS # : OC20242717
- Updated Date : 11/19/2020 at 19:29
CONSTRUCTION
- Beds : 3
- Floor Size : 1,578 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Premier Realty
Listing Agent's Description
PARKSIDE 2 STORY TOWNHOME, LIGHT AND BRIGHT 3 BEDROOM, 2.5 BATH IN WONDERFUL WOODBRIDGE. OPEN AND WELCOME GROUND FLOOR LIVING ROOM WITH VAULTED CEILING AND COZY FIRE PLACE, LAMINATE WOODEN LOOK FLOORING DOWNSTAIRS, SPACIOUS SEPARATE DEN OR COULD BE FORMAL DINING ROOM, BREAKFAST NOOK WITH SETTING TABLE, OPEN KITCHEN OVER LOOK BACKYARD. UPGRADED CARPET THRU-OUT UPSTAIRS. LARGE MASTER BEDROOM SUITE, PRIVATE BACKYARD WITH EASY ACCESS TO BLUE LAKE PARK AND HOA FACILITIES POOLS. MEADOW PARK ELEMENTARY AND SOUTH LAKE MIDDLE SCHOOL ARE IN SHORT WALKING DISTANCE. WOODBRIDGE COMMUNITY HAS MOST FACILITIES SUCH AS : POOL, TENNIS COURTS AND BOTH LAKES . SHOPPING CENTER AND FREEWAY ACCESS ARE IN FEW MINUTES AWAY. COME AND ENJOY THIS RESORT COMMUNITY.
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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: Parkway West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Parkway West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,030 |
| EXPENSES | Loan Payment | -$2,763 |
| Property Tax | -$680 | |
| Property Insurance | -$65 | |
| HOA | -$105 | |
| Property Management Fees | -$148 | |
|
CASH FLOW
-$732
|
||
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.
$749,000
PROJECTED PRICE
$3,030
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,235
LOAN DETAILS
$2,763
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $187,250 |
| Loan Amount | $561,750 |
1.33
YEARS SAVED
$5,428
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,030
LIST RENT -
$1.92
LIST RENT PER SQFT
-
$3,298
COMP ESTIMATED VALUE -
$2.09
COMP AVG. RENT PER SQFT
Comps Range
-
28 Rockwood Irvine, CA 1
- 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $3,030
- $1.92
-
40 Rockwood Irvine, CA 2
- 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1978
LEASED 01/27/20- Rent
- Rent Per SQFT
- $3,200
- $2.00
-
9 Queens Wreath Way Irvine, CA 3
- 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1965
LEASED 06/08/20- Rent
- Rent Per SQFT
- $3,200
- $2.14
-
65 Summerstone Irvine, CA 4
- 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1983
LEASED 08/06/20- Rent
- Rent Per SQFT
- $3,300
- $2.09
-
7 Snowapple Irvine, CA 5
- 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1980
LEASED 03/29/20- Rent
- Rent Per SQFT
- $3,350
- $2.13
PROPERTY LISTING DETAILS
Re/max Premier Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20242717
Last Updated: 11/19/2020
