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4 Springflower # 53 Irvine, CA 92614

3 Beds 3 Baths 1,471 sqft Built 1985

INVESTimate

$785,000

List Price

$3,120

$2,870 - $3,370

Rent Est.

$827,233  ( +5.38%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1985
  • Price/Sqft : $533.65
  • 44 Days on Market
  • MLS # : OC20137381
  • Updated Date : 08/22/2020 at 17:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,471 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Premier Realty

Listing Agent's Description

The perfect home in the perfect location! This home has a fantastic location just across from Fallingstar Pool. The home is attached only at the garage wall and is very private. There are both front and side yards and is not backing to another home - Prime Tract Location! NEW paint, NEW carpeting, NEW white blinds, NEW bath fixtures and NEW LG stove and microwave. You will love the polished granite counters, new garage door opener and fresh landscaping. It's Turnkey! The the largest plan in the Seasons tract is a New England inspired classic and one of Woodbridge's most popular homes. The charming cottage style features a white picket fence, garden, front living room, dining room, brick fireplace and family room open to the kitchen. Many ceiling-high windows provide natural light all day! Sliding glass doors open onto the garden. All 3 bedrooms are upstairs and 2 have beautiful park/pool views. The location is ideal, walking distance to shopping, outdoor dining, Starbucks, Groceries and CVS, Springbrook Elementary, South Lake Middle and Woodbridge High School -All California Distinguished Schools. Woodbridge's cherished amenities are nearby: 2 lakes with docks and beach lagoons, 22 pools, 16 spas, 24 tennis courts, a splash pad, numerous parks with play equipment, volley ball courts, the big wheel park, horse shoe facilities - 41 recreational facilities! The low property tax rate is just 1.01% and Association Dues of $156/mo are very reasonable. See remarks in Office

SEE MORE

MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Seasons

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $216k943k

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

Neighborhood: Seasons

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21400160018002000220024002600280030003200340036003800Rent in $13183818

* 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
Springbrook Elementary School Primary Regular 662 22 7
South Lake Middle School Middle Regular 678 23 8
Woodbridge High School High Regular 2,480 82 10

Springbrook Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 22
7
GreatSchools Rating

South Lake Middle School

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

Woodbridge High School

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

$706,500$863,500$785,000

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,896
Property Tax -$712
Property Insurance -$63
HOA -$105
Property Management Fees -$153
CASH FLOW
-$809

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.

$785,000

PROJECTED PRICE

$3,120

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.38%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$213,775

INVESTMENT

$213,775

Down Payment
$196,250
Rehab Estimate
$5,750
Closing Costs
$11,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,896

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $196,250
Loan Amount $588,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$4,619

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $3,119

    COMP ESTIMATED VALUE
  • $2.12

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0003$3,1204$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 4 Springflower Irvine, 3
    • 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $2.12
    •  
  • 5 Fallcrest Irvine, 1
    • 3 beds 3 baths ∙ 1,435 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,435 Sqft ∙ Built 1986
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.09
    •  
  • 2 Greenmoor Irvine, 2
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1984
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.13
    •  
  • 44 Amberleaf Irvine, 4
    • 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1986
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.18
    •  
  • 211 Fallingstar Irvine, 5
    • 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 1985
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.08
    •  
PROPERTY LISTING DETAILS
Amy Farrell-caves
Re/max Premier Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20137381
Last Updated: 08/22/2020
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