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60 New Season Irvine, CA 92602

3 Beds 3 Baths 1,491 sqft Built 2005

$740,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $496.31
  • 4 Days on Market
  • MLS # : WS21045623
  • Updated Date : 03/04/2021 at 15:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,491 sqft
  • Baths : 2 full , 1 half
Listing Agent

Atm Asset Mgmt, Inc.

Listing Agent's Description

Northwood Neighborhood next to the park, end unit and filled with lots of natural light. Great location, close to fwy 5, post office, shopping center. Home features 3 bedrooms, loft, 2.5 baths, and close to 1500 living space. New interior painting, new wood floor with stairs and all bedrooms area. The kitchen has an opening overlooks the dining area and living room. Master suite with dual vanities and a walk-in closet. The two bedooms on the other side upstaris, in the middle of the 2nd floor, an open loft area can be study room or working station. Indoor laundry room adjcant with two car garage with direct access. You can set up a afternoon tea table in your own front yard, enjoy your free time. Walk to Beckman High School, enjoy the resort-like amenities of a lap pool and a heated spa. This community is well-managed by an excellent HOA. Go and see it today.

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: Trailing Vine

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k943k

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

Neighborhood: Trailing Vine

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $14823818

* 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
Hicks Canyon Elementary School Primary Regular 916 31 9
Arnold O. Beckman High School High Regular 2,648 94 9

Hicks Canyon Elementary School

  • Education Level: Primary
  • # of students: 916
  • # of teachers: 31
9
GreatSchools Rating

Arnold O. Beckman High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 94
9
GreatSchools Rating
 

$666,000$814,000$740,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,570
Property Tax -$786
Property Insurance -$63
HOA -$170
Property Management Fees -$143
CASH FLOW
-$812

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.

$740,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.8%
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-$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$201,850

INVESTMENT

$201,850

Down Payment
$185,000
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,570

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $185,000
Loan Amount $555,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,150

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $2,922

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,920
1$2,9202$3,2003$3,2004$3,2005$3,250
$3,250
RENT COMPS ANALYSIS
  • 60 New Season Irvine, CA 1
    • 3 beds 3 baths ∙ 1,491 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,491 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.96
    •  
  • 25 Milazzo Irvine, CA 2
    • 3 beds 3 baths ∙ 1,645 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,645 Sqft ∙ Built 1985
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.95
    •  
  • 12 Avalon Irvine, CA 3
    • 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 2002
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.00
    •  
  • 36 Night Bloom Irvine, CA 4
    • 3 beds 3 baths ∙ 1,635 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,635 Sqft ∙ Built 2005
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.96
    •  
  • 11 Montelena Irvine, CA 5
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2002
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.93
    •  
PROPERTY LISTING DETAILS
Ling Liu
Atm Asset Mgmt, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21045623
Last Updated: 03/04/2021
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