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55 Bridgeport Irvine, CA 92620

3 Beds 3 Baths 1,424 sqft Built 1984

$850,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $596.91
  • 4 Days on Market
  • MLS # : PW21057298
  • Updated Date : 03/18/2021 at 19:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,424 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

THIS UPGRADED HOME IS SITUATED IN THE WONDERFUL NORTHWOOD COMMUNITY. 'THE GATED ENTRY INVITES YOU INTO THIS PROPERTY WHICH FEATURES A SPACIOUS PATIO WITH PLENTY OF GRASS AND PLANTER AREA. AS YOU STEP INTO THIS HOME YOU WILL NOTICE AN ABUNDANCE OF LIGHT AND VAULTD CEILING. THE DINING/LIVING ROOM AREA GIVE YOU THAT GREAT ROOM FEEL AND HAS A STONE FACED FIREPLACE. CUSTOM SHUTTERS ARE PROVIDED THROUGHOUT THE HOME. THE BEAUTIFUL KITCHEN OFFERS GRANITE COUNTER TOPS, MAPLE CABINETRY AND SEPARATE BREAKFAST COUNTER AND STOOLS. THE PANTRY ORGANIZES ALL YOUR FOOD ITEMS WITH PULL OUT DRAWERS. THE LAUNDRY AREA PROVIDES HOOK UP FOR FULL-SIZED WASHER & DRYER. THERE IS A HALF BATH DOWNSTAIR WITH ADDITIONAL STORAGE AREA. AS YOU WALK UPSTAIRS YOU FIND 3 BEDROOMS. THE FIRST PROVIDE A UNIQUE LIVING SPACE WITH CUSTOM OFFICE BUILT-INS AND A ROOM MAKER (MURPHY STYLE) PULL DOWN BED.THERE ARE MIRRORED WARDROBE DOORS IN ALL BEDROOMS AND A CEILING FAN IN MASTER. THE MASTER SUITE OFFERS TWO CLOSET (ONE WALK IN) BOTH WITH ORGANIZERS. THE MASTER BATHROOM VANITY DUAL VANITY PROVIDES PLENTY OF SPACE AND STORAGE. THE BATHROOMS OFFER BEAUTIFUL BEVELED GLASS TUB ENCLOSURES. YOU'LL LOVE THE GARAGE WITH AN EPOXY FLOOR, WORK BENCH, TONS OF STORAGE AND ORGANIZATIONAL RACKS, FOR YOUR OUTDOOR ENTERTAINMENT THE HOA AMENITIES INCLUDE A POOL/SPA AND PICINC AREA WITH A LARGE PLAY STRUCTURE. GREAT FEATURE OF THIS NEIGHBORHOOD IS THE AWARD WINNING SCHOOL AND PROXIMITY TO SHOPPING AND TRANSPORTATION.

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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: Northwood Glen

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $270k943k

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

Neighborhood: Northwood Glen

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813818

* 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
Sierra Vista Middle School Middle Regular 733 21 9
Northwood High School High Regular 2,173 72 9
Sierra Vista Middle School Middle Unknown NA

Sierra Vista Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 21
9
GreatSchools Rating

Northwood High School

  • Education Level: High
  • # of students: 2,173
  • # of teachers: 72
9
GreatSchools Rating

Sierra Vista Middle School

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

$765,000$935,000$850,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,952
Property Tax -$778
Property Insurance -$62
HOA -$107
Property Management Fees -$145
CASH FLOW
-$1,093

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.

$850,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.9%
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$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$338

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $2.07

    LIST RENT PER SQFT
  • $2,948

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,8953$2,9504$3,0005$3,050
$3,050
RENT COMPS ANALYSIS
  • 55 Bridgeport Irvine, CA 3
    • 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.07
    •  
  • 41 Augusta Irvine, CA 1
    • 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1985
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.00
    •  
  • 19 Southampton Irvine, CA 2
    • 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1984
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $2.03
    •  
  • 28 Jefferson Irvine, CA 4
    • 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1985
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.11
    •  
  • 26 Augusta Irvine, CA 5
    • 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,424 Sqft ∙ Built 1985
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.14
    •  
PROPERTY LISTING DETAILS
David Kelley
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21057298
Last Updated: 03/18/2021
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