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PROPERTY INFO
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.
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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: Lombard Court South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lombard Court South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$195,490
LOAN DETAILS
$2,642
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $179,000 |
| Loan Amount | $537,000 |
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
-
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
Pacific Sterling Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20244355
Last Updated: 11/21/2020
