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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Greentree
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$257,474
LOAN DETAILS
$3,505
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $237,475 |
| Loan Amount | $712,425 |
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
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4382 Bermuda Circle Irvine, CA 3
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- $3,440
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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
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- $3,395
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LEASED 10/06/20- Rent
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- $3,400
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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
Compass
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20246131
Last Updated: 11/30/2020
