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5222 Walnut Avenue Irvine, CA 92604

3 Beds 3 Baths 1,428 sqft Built 1980

$725,000

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $507.70
  • 4 Days on Market
  • MLS # : OC21045871
  • Updated Date : 03/06/2021 at 14:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,428 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tri-star Realty

Listing Agent's Description

Perfect family home centrally located in center Irvine, walking distance to Heritage Park, Irvine High School and shopping. Recently completed HOA renovation included removal of wood paneling, stucco replacement and new paint. Three bedrooms, 2.5 baths, with spacious back patio and access to open common area lot perfect for kids or pets. Bedrooms are upstairs and the master bedroom has a private deck, large master bath and walk-in closet. Open, bright and spacious home nestled in back with new paint and flooring throughout. Low property tax, wonderful schools, low HOA and no Mello Roos!

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: Walnut Court

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $214k943k

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

Neighborhood: Walnut Court

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18443809

* 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
Venado Middle School Middle Regular 577 18 8
Irvine High School High Regular 1,968 64 9
Venado Middle School Middle Unknown NA

Venado Middle School

  • Education Level: Middle
  • # of students: 577
  • # of teachers: 18
8
GreatSchools Rating

Irvine High School

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

Venado Middle School

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

$652,500$797,500$725,000

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$2,518
Property Tax -$642
Property Insurance -$62
HOA -$225
Property Management Fees -$139
CASH FLOW
-$745

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$725,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,684

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $2,992

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,840
1$2,8402$2,9503$3,1004$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 5222 Walnut Avenue Irvine, CA 1
    • 3 beds 3 baths ∙ 1,428 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,428 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $1.99
    •  
  • 4942 Seaford Circle Irvine, CA 2
    • 3 beds 1 baths ∙ 1,447 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,447 Sqft ∙ Built 1973
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.04
    •  
  • 5151 Greencap Avenue Irvine, CA 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1970
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.09
    •  
  • 5072 Greencap Avenue Irvine, CA 4
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1970
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.09
    •  
  • 14832 Dahlquist Road Irvine, CA 5
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1971
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.16
    •  
PROPERTY LISTING DETAILS
Carl Wuestehube
Tri-star Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21045871
Last Updated: 03/06/2021
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