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5 Tall Oak Irvine, CA 92603

3 Beds 3 Baths 1,869 sqft Built 2004

$868,000

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $464.42
  • 6 Days on Market
  • MLS # : OC20227536
  • Updated Date : 11/03/2020 at 08:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,869 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

One of a kind oversized premier corner lot in the Ivy Wreath Community of Quail Hill, nestled at the entrance of a serene green belt and steps from the Quail Hill Trail head, with no neighbors obstructing your view. The home features 3 bedrooms, with 2 master suites. The 3rd bedroom is currently used as a large bonus room with a private patio. The upstairs loft is adjacent to the master bedroom and has been enclosed to be used as a nursery or private office. An entertainer’s outdoor space featuring a spacious backyard has been upgraded with custom brick and tile work and zero maintenance high-end turf for easy cleaning. The 2-car tandem garage is versatile with one side configured as a tiled cabana, equipped with custom fan with mount and power for an outdoor TV. Located 9 miles from Laguna Beach with convenient access to the 5 and 405 fwy. Walking distance to Alderwood elementary and zoned for University High School. Multiple parks, three pools, and 2 gyms are also all walking distance and included in your low HOA dues.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Quail Hill

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $272k1060k

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

Neighborhood: Quail Hill

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000250030003500400045005000550060006500Rent in $19816708

* 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
Alderwood Elementary School Primary Regular 835 28 9
Alderwood Elementary School Middle Regular 835 28 9
University High School High Regular 2,527 84 10

Alderwood Elementary School

  • Education Level: Primary
  • # of students: 835
  • # of teachers: 28
9
GreatSchools Rating

Alderwood Elementary School

  • Education Level: Middle
  • # of students: 835
  • # of teachers: 28
9
GreatSchools Rating

University High School

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

$781,200$954,800$868,000

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$3,203
Property Tax -$963
Property Insurance -$72
HOA -$94
Property Management Fees -$161
CASH FLOW
-$1,203

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.

$868,000

PROJECTED PRICE

$3,290

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 3.9%
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$10k

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$235,770

INVESTMENT

$235,770

Down Payment
$217,000
Rehab Estimate
$5,750
Closing Costs
$13,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,203

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $217,000
Loan Amount $651,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,290

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $3,299

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$3,290
1$3,2902$3,3503$3,4004$3,4005$3,450
$3,450
RENT COMPS ANALYSIS
  • 5 Tall Oak Irvine, CA 1
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $1.76
    •  
  • 344 Quail Ridge Irvine, CA 2
    • 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2005
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.75
    •  
  • 95 Reunion Irvine, CA 3
    • 3 beds 3 baths ∙ 1,959 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,959 Sqft ∙ Built 2004
    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
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.76
    •  
  • 23 Teardrop Irvine, CA 5
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2003
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.81
    •  
PROPERTY LISTING DETAILS
Mario Gamboa Jr.
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20227536
Last Updated: 11/03/2020
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