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3821 Cosley Street Irvine, CA 92614

4 Beds 4 Baths 2,376 sqft Built 1970

$998,000

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $420.03
  • 2 Days on Market
  • MLS # : CV20244691
  • Updated Date : 11/21/2020 at 14:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,376 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jun Zhou, Broker

Listing Agent's Description

Title says 5 bedrooms. Best LOCATION in the community, house sits next to the wilderness park. Hardwood floor both upstairs and down stairs, crown molding, recessed lights. Dual pane windows throughout. Half bathroom on the main floor. Spacious family room connected to the kitchen. Formal dinning room with access to the back yard. Jacuzzi bathtub in the master bathroom. Second fireplace in the master bedroom. One of the master bedrooms has terrace attach to it. Turf grass on the front lawn to reduce your water bill and less maintenance needed. A lot of HOA amenities, including swim pool, tennis courts, walking/bike trail......very low HOA fee $75/month. Great school system: Westpark (K6), South-lake (K8), University (K12)......Close to shopping malls, Freeway, Golf course, UCI, Park.....ETC. NO MELLO ROSS.

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: Westpark Village

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900k950k1000kPrice in $272k1002k

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

Neighborhood: Westpark Village

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
Westpark Elementary School Primary Regular 766 28 9
Westpark Elementary School Middle Regular 766 28 9
University High School High Regular 2,527 84 10

Westpark Elementary School

  • Education Level: Primary
  • # of students: 766
  • # of teachers: 28
9
GreatSchools Rating

Westpark Elementary School

  • Education Level: Middle
  • # of students: 766
  • # of teachers: 28
9
GreatSchools Rating

University High School

  • Education Level: High
  • # of students: 2,527
  • # of teachers: 84
10
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,200
EXPENSES Loan Payment -$3,682
Property Tax -$890
Property Insurance -$84
HOA -$75
Property Management Fees -$206
CASH FLOW
-$737

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.

$998,000

PROJECTED PRICE

$4,200

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.6%
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-$10k$0.0$10k$20k$30k

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$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$19,362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,200

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $4,283

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$3,950
1$3,9502$4,0003$4,1004$4,2005$4,900
$4,900
RENT COMPS ANALYSIS
  • 3821 Cosley Street Irvine, CA 4
    • 4 beds 4 baths ∙ 2,376 Sqft ∙ Built 1970 4 beds 4 baths ∙ 2,376 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.77
    •  
  • 29 Belcanto Irvine, CA 1
    • 4 beds 3 baths ∙ 2,301 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,301 Sqft ∙ Built 1988
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.72
    •  
  • 11 Presidio Irvine, CA 2
    • 3 beds 4 baths ∙ 2,325 Sqft ∙ Built 1988 3 beds 4 baths ∙ 2,325 Sqft ∙ Built 1988
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.72
    •  
  • 38 Butler Street Irvine, CA 3
    • 5 beds 4 baths ∙ 2,257 Sqft ∙ Built 1966 5 beds 4 baths ∙ 2,257 Sqft ∙ Built 1966
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.82
    •  
  • 17651 Manchester Avenue Irvine, CA 5
    • 5 beds 3 baths ∙ 2,508 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,508 Sqft ∙ Built 1969
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $1.95
    •  
PROPERTY LISTING DETAILS
Jun Zhou
Jun Zhou, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20244691
Last Updated: 11/21/2020
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