Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3891 Claremont Street Irvine, CA 92614

4 Beds 3 Baths 2,094 sqft Built 1971

$985,000

List Price

$3,830

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $470.39
  • 7 Days on Market
  • MLS # : PW21023096
  • Updated Date : 02/12/2021 at 07:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,094 sqft
  • Baths : 2 full , 1 half
Listing Agent

Greenfield Realty

Listing Agent's Description

EXTREMELY GORGEOUS EXECUTIVE HOME IN PRESTIGIOUS CITY OF IRVINE with HIGH RATING AWARD WINNING UNIFIED SCHOOL DISTRICT .....WITHOUT THE Mello Roos. Conveniently near retail stores, Irvine Spectrum, world class dining , community parks and trails, and freeway. Step into this home to feel the dramatic open floor plan with high cathedral ceiling and skylight above. The entry tile is just so extravagantly unique and eye catching. Custom oversize windows welcomes in the beautiful natural light that glows throughout the beautiful home. Elegant gourmet kitchen with solid wood white shaker cabinets, stone white quartz, classy glass backsplash, recessed lights, and state of the art cutting edge appliances. What's more captivating is the oversize master suite with double door entrance, walk in closet, custom barn door entering into the most exquisite master bathroom. The master bathroom have modern double sink vanity, distinct tile design that is elegant yet simple. Hallway bathroom is also updated with gorgeous modern theme , so eye catching and exquisite. Luxury modern wood vinyl that looks and feel like wood yet easy to maintain and so so gorgeous. New modern and unique fixtures throughout that enhance the theme even more. Are you looking for a home that's practically new in the most sought out city without mello roos? Look no more, this home is the home for you! Put in your offer now!

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: 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
South Lake Middle School Middle Regular 678 23 8
University High School High Regular 2,527 84 10
South Lake Middle School Middle Unknown NA

South Lake Middle School

  • Education Level: Middle
  • # of students: 678
  • # of teachers: 23
8
GreatSchools Rating

University High School

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

South Lake Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$886,500$1,083,500$985,000

PURCHASE PRICE

$3,447$4,213$3,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,830
EXPENSES Loan Payment -$3,421
Property Tax -$878
Property Insurance -$78
HOA -$75
Property Management Fees -$188
CASH FLOW
-$810

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.

$985,000

PROJECTED PRICE

$3,830

PROJECTED RENT

0.39%

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$266,775

INVESTMENT

$266,775

Down Payment
$246,250
Rehab Estimate
$5,750
Closing Costs
$14,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $246,250
Loan Amount $738,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$9,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,830

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $3,911

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$3,6504$3,8005$3,830
$3,830
RENT COMPS ANALYSIS
  • 3891 Claremont Street Irvine, CA 5
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $3,830
    • $1.83
    •  
  • 4085 Germainder Way Irvine, CA 1
    • 4 beds 3 baths ∙ 1,896 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,896 Sqft ∙ Built 1965
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.90
    •  
  • 4086 Germainder Way Irvine, CA 2
    • 4 beds 3 baths ∙ 1,896 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,896 Sqft ∙ Built 1966
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.90
    •  
  • 81 Summerstone Irvine, CA 3
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1981
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.92
    •  
  • 11 Trapani Irvine, CA 4
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1987
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.75
    •  
PROPERTY LISTING DETAILS
Trang Dang
Greenfield Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21023096
Last Updated: 02/12/2021
BESbswy