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39 Echo Run #28 Irvine, CA 92614

3 Beds 3 Baths 1,578 sqft Built 1983

$699,999

List Price

$3,090

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1983
  • Price/Sqft : $443.60
  • 10 Days on Market
  • MLS # : AR20228988
  • Updated Date : 11/07/2020 at 20:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,578 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw Executive

Listing Agent's Description

39 Echo Run is located in the beautiful and quiet community of Woodbridge. This is a well maintained 2 story condo with all the bedrooms located on the 2nd floor. You'll find a half bath downstairs along with a "study" in front and family/living room towards the back. Right outside the kitchen there is a patio where you can have your morning coffee while taking in some sun. Upstairs you'll find 3 bedrooms with 1 of them being the master suite. The remaining bedrooms share a bath in the hallway. The home is centrally located close to the community's lakes, lagoons, pools and award winning schools. It is also close to a Centerstone Plaza that includes restaurants and shopping stores. Please take a look at the matterport link and tour the home! https://my.matterport.com/show/?m=H1jb8oWR2r6&mls=1

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $247k943k

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

Neighborhood: Parkway

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $14333818

* 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
Meadow Park Elementary School Primary Regular 685 24 9
Meadow Park Elementary School Middle Regular 685 24 9
Woodbridge High School High Regular 2,480 82 10

Meadow Park Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 24
9
GreatSchools Rating

Meadow Park Elementary School

  • Education Level: Middle
  • # of students: 685
  • # of teachers: 24
9
GreatSchools Rating

Woodbridge High School

  • Education Level: High
  • # of students: 2,480
  • # of teachers: 82
10
GreatSchools Rating
 

$629,999$769,999$699,999

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$2,583
Property Tax -$636
Property Insurance -$65
HOA -$105
Property Management Fees -$151
CASH FLOW
-$450

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.

$699,999

PROJECTED PRICE

$3,090

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.4%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $524,999
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$16,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,090

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $3,085

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0003$3,0004$3,0905$3,300
$3,300
RENT COMPS ANALYSIS
  • 39 Echo Run Irvine, CA 4
    • 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $3,090
    • $1.96
    •  
  • 76 Racing Wind Irvine, CA 1
    • 3 beds 3 baths ∙ 1,571 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,571 Sqft ∙ Built 1980
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.88
    •  
  • 11 New Market Irvine, CA 2
    • 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2001
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.94
    •  
  • 3 Wildwheat Irvine, CA 3
    • 3 beds 3 baths ∙ 1,571 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,571 Sqft ∙ Built 1980
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.91
    •  
  • 27 Echo Irvine, CA 5
    • 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1984
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.09
    •  
PROPERTY LISTING DETAILS
Albert Chen
Kw Executive
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR20228988
Last Updated: 11/07/2020
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