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54 Parrell Avenue Lake Forest, CA 92610

4 Beds 3 Baths 1,910 sqft Built 1990

$799,999

List Price

$3,550

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $418.85
  • 2 Days on Market
  • MLS # : OC20250066
  • Updated Date : 12/05/2020 at 13:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,910 sqft
  • Baths : 3 full
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Enjoy this bright and spacious 4 bedroom 3 bath home with open floor plan in the community of Foothill Ranch. Double entry door with high ceiling in formal room and family room. Separate Dining Room, eating Kitchen and breakfast bar, and fire place in family room. Main floor bedroom, full bath and laundry room. Newly installed garage door. Spacious upstairs master suite opens to master bath with tub and shower, walk in closet and dual sink. 2 other bedroom with Jack & Jill bathroom. The community offers great amenities including Hiking/Biking trails in Whiting Ranch Wilderness park, close to grocery store, restaurants, park, community pool/spa/clubhouse, library and award winning Foothill Ranch Elementary School.

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: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19033818

* 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
Foothill Ranch Elementary School Primary Regular 1,100 38 8
Foothill Ranch Elementary School Middle Regular 1,100 38 8
Trabuco Hills High School High Regular 2,960 112 9

Foothill Ranch Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 38
8
GreatSchools Rating

Foothill Ranch Elementary School

  • Education Level: Middle
  • # of students: 1,100
  • # of teachers: 38
8
GreatSchools Rating

Trabuco Hills High School

  • Education Level: High
  • # of students: 2,960
  • # of teachers: 112
9
GreatSchools Rating
 

$719,999$879,999$799,999

PURCHASE PRICE

$3,195$3,905$3,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,550
EXPENSES Loan Payment -$2,952
Property Tax -$686
Property Insurance -$73
HOA -$84
Property Management Fees -$174
CASH FLOW
-$418

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.

$799,999

PROJECTED PRICE

$3,550

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.0%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $200,000
Loan Amount $599,999
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$26,527

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,550

    LIST RENT
  • $1.86

    LIST RENT PER SQFT
  • $3,534

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,4003$3,5004$3,5505$3,600
$3,600
RENT COMPS ANALYSIS
  • 54 Parrell Avenue Lake Forest, CA 4
    • 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.86
    •  
  • 61 Parrell Avenue Lake Forest, CA 1
    • 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 1996
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.78
    •  
  • 72 Blazewood Lake Forest, CA 2
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 1993
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.89
    •  
  • 18 Enfilade Avenue Lake Forest, CA 3
    • 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 1991
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.74
    •  
  • 19 Aurore Avenue Lake Forest, CA 5
    • 4 beds 3 baths ∙ 1,807 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,807 Sqft ∙ Built 1993
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.99
    •  
PROPERTY LISTING DETAILS
Parvaneh Bolandian
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20250066
Last Updated: 12/05/2020
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