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420 Quail Ridge Irvine, CA 92603

3 Beds 3 Baths 1,959 sqft Built 2004

$850,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $433.89
  • 4 Days on Market
  • MLS # : OC21043230
  • Updated Date : 03/04/2021 at 19:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,959 sqft
  • Baths : 3 full
Listing Agent

Aspero Realty, Inc

Listing Agent's Description

Highly desirable 2-story with Main Level Bedroom and Bath plus Two Bedroom Suites Up in desirable Quail Hill!! *** Also, Very Open Great Room floor-plan with Elegant wood laminate flooring on main level, recessed lighting, fireplace, designer paint, professionally organized master closet, mirrored closet doors, large inside laundry room with sink and additional cabinets *** Open kitchen comes complete with upgraded tiled countertops and full backsplash, stainless steel appliance package, large sit-up island and ample storage *** Direct access 2-car garage w/full size driveway *** Walk to acclaimed Alderwood Elementary, your choice of three private pools, tennis, fitness center, tot lots and of course upscale Quail Hill dining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Ambridge

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $252k1641k

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

Neighborhood: Ambridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21500200025003000350040004500500055006000Rent in $14516043

* 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
Rancho San Joaquin Middle School Middle Regular 856 24 9
University High School High Regular 2,527 84 10
Rancho San Joaquin Middle School Middle Unknown NA

Rancho San Joaquin Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 24
9
GreatSchools Rating

University High School

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

Rancho San Joaquin Middle School

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

$765,000$935,000$850,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$2,952
Property Tax -$943
Property Insurance -$74
HOA -$94
Property Management Fees -$167
CASH FLOW
-$830

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.

$850,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.98%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $3,399

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,3003$3,4004$3,4005$3,400
$3,400
RENT COMPS ANALYSIS
  • 420 Quail Ridge Irvine, CA 5
    • 3 beds 3 baths ∙ 1,959 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,959 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.74
    •  
  • 89 Duet Irvine, CA 1
    • 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2004
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.73
    •  
  • 135 Tall Oak Irvine, CA 2
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2004
    property image
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.71
    •  
  • 95 Reunion Irvine, CA 3
    • 3 beds 3 baths ∙ 1,959 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,959 Sqft ∙ Built 2004
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.74
    •  
  • 313 Tall Oak Irvine, CA 4
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2003
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.76
    •  
PROPERTY LISTING DETAILS
Diane Merassa
Aspero Realty, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21043230
Last Updated: 03/04/2021
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