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63 Glen Arbor #123 Irvine, CA 92602

3 Beds 3 Baths 1,649 sqft Built 2001

$898,000

List Price

$3,260

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $544.57
  • 3 Days on Market
  • MLS # : PW20230075
  • Updated Date : 11/01/2020 at 15:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,649 sqft
  • Baths : 2 full , 1 half
Listing Agent

Properties By Sutton & Assoc.

Listing Agent's Description

Lovely, private and rare detached home in the highly sought after West Irvine Pointe community of Wisteria. 3 Bedrooms, plus an office and 2.5 Baths provide 1649 Sq. Ft. of living space. A large family room with high ceilings, crown molding and a fireplace is open to the kitchen with stainless steel appliances and a walk-in pantry. Tall French doors open to the beautiful low maintenance yard with it's own outdoor fireplace and artificial turf. The master suite has a large walk-in closet, a dual sink bath with spa tub and shower. A second bath is shared by two other bedrooms. The downstairs office and powder room adjoin the entry hall. A two car garage is easily accessible to the kitchen. The community recreation area has a park and pool. Some of the features that this neighborhood provides are Excellent, highly ranked schools (including Beckman High School), and close proximity to shopping and the toll roads. Light and bright this home is a "Must See!" Call for an appointment! COVID-19 Protocol is followed.

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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: Walnut Square

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $158k943k

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

Neighborhood: Walnut Square

ZipNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $19814129

* 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
Greentree Elementary School Primary Regular 517 19 8
Greentree Elementary School Middle Regular 517 19 8
Irvine High School High Regular 1,968 64 9

Greentree Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 19
8
GreatSchools Rating

Greentree Elementary School

  • Education Level: Middle
  • # of students: 517
  • # of teachers: 19
8
GreatSchools Rating

Irvine High School

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

$808,200$987,800$898,000

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$3,313
Property Tax -$801
Property Insurance -$67
HOA -$132
Property Management Fees -$160
CASH FLOW
-$1,213

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.

$898,000

PROJECTED PRICE

$3,260

PROJECTED RENT

0.36%

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$2.5M

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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,720

INVESTMENT

$243,720

Down Payment
$224,500
Rehab Estimate
$5,750
Closing Costs
$13,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,313

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,500
Loan Amount $673,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$515

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $3,257

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,980
1$2,9802$2,9903$3,2004$3,2605$3,500
$3,500
RENT COMPS ANALYSIS
  • 63 Glen Arbor Irvine, CA 4
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $1.98
    •  
  • 22 Pleasonton Irvine, CA 1
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1986
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.98
    •  
  • 19 Potomac Irvine, CA 2
    • 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 1985
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.95
    •  
  • 8 Waynesboro Irvine, CA 3
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1985
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.00
    •  
  • 65 Cornflower Irvine, CA 5
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2004
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.97
    •  
PROPERTY LISTING DETAILS
Donna Sutton
Properties By Sutton & Assoc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20230075
Last Updated: 11/01/2020
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