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4382 Bermuda Circle Irvine, CA 92604

4 Beds 3 Baths 1,785 sqft Built 1972

$949,900

List Price

$3,440

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $532.16
  • 7 Days on Market
  • MLS # : OC20246131
  • Updated Date : 11/30/2020 at 06:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,785 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Beautifully updated, completely turnkey 4 bedroom, 2.5 bathroom home in the sought-after Greentree neighborhood. Tucked away in an interior tract, this cul-de-sac home is easily one of the best, most private locations within the community. On the main level, cathedral ceilings & an abundance of natural light create an airy & bright living space. The spacious kitchen showcases white cabinetry, granite counters, breakfast bar, five-burner cooktop, stainless-steel appliances & scenic views of the private yard. A new chandelier frames the dining space. The family room boasts new laminate flooring, soaring ceilings & cozy fireplace. Up the extra wide staircase with new carpet & fresh paint, the spacious master retreat features new carpet, new ceiling fan, fresh paint & its own private balcony perfect for morning coffee. The attached master bath en suite has been redesigned with new lights, hardware & designer floor tile. Down the hall, the three additional bedrooms have new carpet, fresh paint & new ceilings fans. The hall bath features modern floor tile & new fixtures. The oversized backyard is complete with grapefruit & pomegranate trees & large covered patio. Additional updates to the home include newer windows & sliding doors, exterior paint, light fixtures & landscaping. Two car garage with direct access into the home. Amenities include a pool, playground, park, sport courts & picnic areas. Conveniently located near dining & shopping & just a short walk to a top-rated school.

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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: Greentree

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k943k

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

Neighborhood: Greentree

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
Greentree Elementary School Primary Regular 517 19 8
Greentree Elementary School Middle Regular 517 19 8
Irvine High School High Regular 1,968 64 9

Greentree Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 19
8
GreatSchools Rating

Greentree Elementary School

  • Education Level: Middle
  • # of students: 517
  • # of teachers: 19
8
GreatSchools Rating

Irvine High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 64
9
GreatSchools Rating
 

$854,910$1,044,890$949,900

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$3,505
Property Tax -$847
Property Insurance -$70
HOA -$66
Property Management Fees -$169
CASH FLOW
-$1,217

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.

$949,900

PROJECTED PRICE

$3,440

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.5%
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-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,474

INVESTMENT

$257,474

Down Payment
$237,475
Rehab Estimate
$5,750
Closing Costs
$14,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,475
Loan Amount $712,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $1.93

    LIST RENT PER SQFT
  • $3,427

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,395
1$3,3952$3,4003$3,4404$3,4505$3,500
$3,500
RENT COMPS ANALYSIS
  • 4382 Bermuda Circle Irvine, CA 3
    • 4 beds 3 baths ∙ 1,785 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,785 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $1.93
    •  
  • 4381 Manzanita Irvine, CA 1
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1974
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.91
    •  
  • 14892 Burnham Circle Irvine, CA 2
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1971
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.82
    •  
  • 1 Tortoise Shell Irvine, CA 4
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1976
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.99
    •  
  • 4381 Skylark Street Irvine, CA 5
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1974
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.96
    •  
PROPERTY LISTING DETAILS
Paige Hill
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20246131
Last Updated: 11/30/2020
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