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28 Vintage Irvine, CA 92620

3 Beds 3 Baths 1,614 sqft Built 2005

$716,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $443.62
  • 3 Days on Market
  • MLS # : OC20244355
  • Updated Date : 11/21/2020 at 10:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 3 full
Listing Agent

Pacific Sterling Realty

Listing Agent's Description

boasting 3 bedroom with each of its own full bath, home welcomes you with a courtyard entrance with lush landscape. Tastefully upgraded gourmet kitchen with premium granite counters and maple cabinetry overlooks the huge living room/family room. Upgraded ceramic tile floor throughout. Upstairs master bedroom showcases large walk-in closet. Master bath features designer tile counters, dual sinks, a soaking tub and large separate shower. Also has a walk-out balcony with separate storage and gorgeous mountain and city lights view. Newer custom window shades throughout. The 2 additional well-appointed spacious bedrooms have its own full bath. Huge 2 car garage with epoxy floor and custom built-in cabinets. Woodbury commons includes resort style amenities such as pools, spas, tennis courts and much more. Walk your kids to award-winning Woodbury elementary and Woodbury town center which includes a variety of shops and dining.

SEE MORE

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: Lombard Court South

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $231k943k

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

Neighborhood: Lombard Court South

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $16273818

* 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
Woodbury Elementary School Primary Regular 1,076 37 8
Woodbury Elementary School Middle Regular 1,076 37 8
Irvine High School High Regular 1,968 64 9

Woodbury Elementary School

  • Education Level: Primary
  • # of students: 1,076
  • # of teachers: 37
8
GreatSchools Rating

Woodbury Elementary School

  • Education Level: Middle
  • # of students: 1,076
  • # of teachers: 37
8
GreatSchools Rating

Irvine High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 64
9
GreatSchools Rating
 

$644,400$787,600$716,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,642
Property Tax -$850
Property Insurance -$66
HOA -$130
Property Management Fees -$147
CASH FLOW
-$825

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.

$716,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

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$195,490

INVESTMENT

$195,490

Down Payment
$179,000
Rehab Estimate
$5,750
Closing Costs
$10,740

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $179,000
Loan Amount $537,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $1.86

    LIST RENT PER SQFT
  • $3,091

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0103$3,1004$3,2005$3,600
$3,600
RENT COMPS ANALYSIS
  • 28 Vintage Irvine, CA 2
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $1.86
    •  
  • 26 Vintage Irvine, CA 1
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2005
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.86
    •  
  • 87 Long Irvine, CA 3
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.92
    •  
  • 102 Sarabande Irvine, CA 4
    • 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2006
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.86
    •  
  • 55 Waterspout Irvine, CA 5
    • 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 2005
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.02
    •  
PROPERTY LISTING DETAILS
Xuefeng Zou
Pacific Sterling Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20244355
Last Updated: 11/21/2020
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