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42 Leucadia #66 Irvine, CA 92602

3 Beds 3 Baths 1,907 sqft Built 2001

$835,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $437.86
  • 2 Days on Market
  • MLS # : WS21058586
  • Updated Date : 03/20/2021 at 14:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,907 sqft
  • Baths : 3 full
Listing Agent

Pinnacle Real Estate Group

Listing Agent's Description

This beautiful newly remodeled townhouse is located at community of North Park. Come with impressive floor plan and upgrades,Features 3 bedrooms and 3 bathrooms, 2 cars garage, tile flooring on first floor, wood flooring on second floor, enormous walk-in closet,The unit's interior was beautifully done professional.The community poor just next to the house. Ideal for families or investors.

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: Monticello

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $231k943k

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

Neighborhood: Monticello

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $16243818

* 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
Hicks Canyon Elementary School Primary Regular 916 31 9
Arnold O. Beckman High School High Regular 2,648 94 9

Hicks Canyon Elementary School

  • Education Level: Primary
  • # of students: 916
  • # of teachers: 31
9
GreatSchools Rating

Arnold O. Beckman High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 94
9
GreatSchools Rating
 

$751,500$918,500$835,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$2,900
Property Tax -$887
Property Insurance -$73
HOA -$258
Property Management Fees -$156
CASH FLOW
-$1,094

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.

$835,000

PROJECTED PRICE

$3,180

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.8%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$227,025

INVESTMENT

$227,025

Down Payment
$208,750
Rehab Estimate
$5,750
Closing Costs
$12,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $208,750
Loan Amount $626,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $3,175

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1003$3,1804$3,3505$3,650
$3,650
RENT COMPS ANALYSIS
  • 42 Leucadia Irvine, CA 3
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $1.67
    •  
  • 12 Idyllwild Irvine, CA 1
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2002
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.57
    •  
  • 9 Leucadia Irvine, CA 2
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2002
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.63
    •  
  • 20 Bolinas Irvine, CA 4
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2001
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.67
    •  
  • 2 Inglenook Irvine, CA 5
    • 3 beds 3 baths ∙ 2,042 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,042 Sqft ∙ Built 2000
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.79
    •  
PROPERTY LISTING DETAILS
Tuo Meng
Pinnacle Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21058586
Last Updated: 03/20/2021
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