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67 Fox Hollow #67 Irvine, CA 92614

3 Beds 2 Baths 1,320 sqft Built 1980

$610,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $462.12
  • 2 Days on Market
  • MLS # : PW21015812
  • Updated Date : 02/06/2021 at 20:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 1 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

Welcome to this great 3 bedroom condo in the sought after Woodbridge area of Irvine. This home features hardwood floors, large tile flooring and crown molding downstairs. Both of the bathrooms have been remodeled and the tub was just reglazed. The large living room has a cozy fireplace with stacked stone and a PC work area under the stairs. The large kitchen and dining area has a newer vinyl slider that leads out to the large private patio. The patio is enclosed with a vinyl fence and has a storage room. There is a separate laundry room off the kitchen with included washer and dryer. There is plenty of storage in the pantry in laundry room and the double door closet in the hallway. The master bedroom is oversized and with organizers in the closet. Newer A/C and Furnace. This condo is on the interior of the complex, very quite The exterior of the complex was painted last year. The home is located in the middle of all three top ranked Irvine Schools, parks, swimming pools including a salt water pool, sport courts, lake with a beach area, clubhouse and all of the Woodbridge amenities. Also close to the 5 and 405 freeways and Airport. Irvine is know for it's excellent safety ratings and school ratings. No Mello Roos!

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: Somerset

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $180k943k

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

Neighborhood: Somerset

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200340036003800Rent in $14553818

* 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
South Lake Middle School Middle Regular 678 23 8
Woodbridge High School High Regular 2,480 82 10
South Lake Middle School Middle Unknown NA

South Lake Middle School

  • Education Level: Middle
  • # of students: 678
  • # of teachers: 23
8
GreatSchools Rating

Woodbridge High School

  • Education Level: High
  • # of students: 2,480
  • # of teachers: 82
10
GreatSchools Rating

South Lake Middle School

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

$549,000$671,000$610,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,119
Property Tax -$554
Property Insurance -$59
HOA -$105
Property Management Fees -$141
CASH FLOW
-$107

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.

$610,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,119

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$29,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $2.17

    LIST RENT PER SQFT
  • $2,868

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,8004$2,8705$3,100
$3,100
RENT COMPS ANALYSIS
  • 67 Fox Hollow Irvine, CA 4
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $2.17
    •  
  • 42 Thicket Irvine, CA 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1982
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.18
    •  
  • 18 Fox Holw Irvine, CA 2
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1980
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.14
    •  
  • 16 Fairside Irvine, CA 3
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1983
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.22
    •  
  • 17 Tidewater Irvine, CA 5
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1981
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.15
    •  
PROPERTY LISTING DETAILS
Sandra Griffo
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21015812
Last Updated: 02/06/2021
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