Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $471.31
- 4 Days on Market
- MLS # : OC21015895
- Updated Date : 02/05/2021 at 08:28
CONSTRUCTION
- Beds : 3
- Floor Size : 1,220 sqft
- Baths : 1 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
47 Meadowgrass is found in the desirable sought-after village of Woodbridge in Irvine. The popular 3-bedroom, 1.5 bath attached home is part of the neighborhood of Centerview, and has many upgrades including custom lighting, smooth ceilings, recessed lights, newer windows, and recently installed stunning flooring upstairs. There is durable laminate flooring downstairs, (no carpet except on the stairs). The Master bedroom has mirrored closet-doors. The full upstairs bathroom has been upgraded with gorgeous tile. The kitchen has gleaming granite countertops, stainless steel appliances, a range hood and rich colored cabinetry. You will love whipping up meals and making full use of the large island. The inside laundry room is off the kitchen and has shelving for storage & cleaning goods. The sliding door from the kitchen opens onto a private yard, perfect for year-round BBQs, dining, relaxing and is a safe play area for the little ones! There is a storage closet there too, as well as a custom storage shed. Close-by is the one assigned carport. The home is located just a few blocks from North Lake Beach Club Lagoon and Tennis Club, and within easy walking-distance to schools. Woodbridge is one of the most popular areas, where homeowners get to enjoy the use of the unbeatable recreational facilities like 22 pools, 2 lakes with beach clubs, tennis clubs and numerous playgrounds and parks. NO MELLO-ROOS.
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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.
PRICE & RENT TRENDS
Neighborhood: Centerview East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Centerview East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,600 |
| EXPENSES | Loan Payment | -$1,997 |
| Property Tax | -$523 | |
| Property Insurance | -$57 | |
| HOA | -$105 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
-$209
|
||
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.
$575,000
PROJECTED PRICE
$2,600
PROJECTED RENT
0.45%
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
$158,125
LOAN DETAILS
$1,997
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $143,750 |
| Loan Amount | $431,250 |
3.67
YEARS SAVED
$19,567
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,600
LIST RENT -
$2.13
LIST RENT PER SQFT
-
$2,605
COMP ESTIMATED VALUE -
$2.14
COMP AVG. RENT PER SQFT
Comps Range
-
47 Meadowgrass Irvine, CA 3
- 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1977
- Rent
- Rent Per SQFT
- $2,600
- $2.13
-
57 Meadowgrass Irvine, CA 1
- 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1977
LEASED 01/13/21- Rent
- Rent Per SQFT
- $2,600
- $2.13
-
23 Brookfield Irvine, CA 2
- 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1977
LEASED 12/14/20- Rent
- Rent Per SQFT
- $2,600
- $2.13
-
43 Alderwood Irvine, CA 4
- 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1978
LEASED 12/25/20- Rent
- Rent Per SQFT
- $2,650
- $2.17
-
49 Del Cambrea Irvine, CA 5
- 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1995
LEASED 05/08/20- Rent
- Rent Per SQFT
- $2,850
- $2.11
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21015895
Last Updated: 02/05/2021
