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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $396.87
- 4 Days on Market
- MLS # : OC21002625
- Updated Date : 01/08/2021 at 08:04
CONSTRUCTION
- Beds : 4
- Floor Size : 2,492 sqft
- Baths : 4 full
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Opportunity knocks in desirable gated community of Northwood II. Most sought after popular floor plan end unit home offers 4 bedrooms, a spacious loft and 4 bathrooms with dual master suites, one on each floor. Great inside location with an open floor plan, high ceilings and very light and airy, makes this a very inviting home. A spacious chef's kitchen consists of an island overlooking the dining area, granite counters, stainless steel appliances and a walk in pantry. French doors off the dining area lead to a private patio ideal for entertaining or just relaxing. Additional features include hard wood flooring in the living, dining and kitchen, carpet in all the bedrooms and loft, cozy fireplace, 2 car attached garage and an inside laundry room. Northwood II community consists of a pool, spa, clubhouse, parks and is conveniently located near the highly acclaimed Irvine schools, shopping, freeway and the Spectrum.
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: Serissa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Serissa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,850 |
| EXPENSES | Loan Payment | -$3,435 |
| Property Tax | -$1,093 | |
| Property Insurance | -$87 | |
| HOA | -$162 | |
| Property Management Fees | -$189 | |
|
CASH FLOW
-$1,116
|
||
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.
$989,000
PROJECTED PRICE
$3,850
PROJECTED RENT
0.39%
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
$267,835
LOAN DETAILS
$3,435
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $247,250 |
| Loan Amount | $741,750 |
0.42
YEARS SAVED
$1,279
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,850
LIST RENT -
$1.54
LIST RENT PER SQFT
-
$3,831
COMP ESTIMATED VALUE -
$1.54
COMP AVG. RENT PER SQFT
Comps Range
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30 Shadowplay Irvine, CA 4
- 4 beds 4 baths ∙ 2,492 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,492 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $3,850
- $1.54
-
25 Secret Irvine, CA 1
- 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2005
LEASED 09/28/20- Rent
- Rent Per SQFT
- $3,700
- $1.53
-
31 Bamboo Irvine, CA 2
- 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2006
LEASED 01/31/20- Rent
- Rent Per SQFT
- $3,800
- $1.51
-
30 Bombay Irvine, CA 3
- 4 beds 4 baths ∙ 2,456 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,456 Sqft ∙ Built 2004
LEASED 09/15/20- Rent
- Rent Per SQFT
- $3,800
- $1.55
-
54 Tea Garden Irvine, CA 5
- 4 beds 4 baths ∙ 2,497 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,497 Sqft ∙ Built 2004
LEASED 11/25/20- Rent
- Rent Per SQFT
- $3,900
- $1.56
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservice
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21002625
Last Updated: 01/08/2021
