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7 Abbey Drive Lake Forest, CA 92610

3 Beds 3 Baths 1,308 sqft Built 1994

$719,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1994
  • Price/Sqft : $549.69
  • 24 Days on Market
  • MLS # : OC20218632
  • Updated Date : 11/04/2020 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,308 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Award

Listing Agent's Description

Welcome Home to Peace and Tranquility! Your neighbor friendly front porch welcomes you to the light filled entry and 2 story living room. A cozy fireplace awaits some time to relax. The spacious dining area is open to the well equipped kitchen with breakfast bar and inviting view window to your newly re-landscaped backyard oasis. With new retaining walls, drought resistant flowers and succulents, you will spend countless hours enjoying this outdoor space. The Pergola is enhanced by a new shade extender for full yard enjoyment. The loft is a perfect place to retreat for a little work or time to relax. Two secondary bedrooms are connected with a full bath. The Master Retreat is spacious and welcoming! Close proximity to shopping, parks and walking trails. Convenient access to toll roads for that quick weekend getaway!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Foothill Antibes

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Foothill Antibes

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $17253818

* 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
 

$647,100$790,900$719,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,653
Property Tax -$628
Property Insurance -$59
HOA -$70
Property Management Fees -$135
CASH FLOW
-$794

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.

$719,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.6%
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$15k

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$196,285

INVESTMENT

$196,285

Down Payment
$179,750
Rehab Estimate
$5,750
Closing Costs
$10,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $179,750
Loan Amount $539,250
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,740

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $2,747

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$3,2003$3,2004$3,3005$3,300
$3,300
RENT COMPS ANALYSIS
  • 7 Abbey Drive Lake Forest, CA 1
    • 3 beds 3 baths ∙ 1,308 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,308 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.10
    •  
  • 15 Massier Lane Lake Forest, CA 2
    • 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1990
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.11
    •  
  • 7 Balise Lane Lake Forest, CA 3
    • 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1995
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.17
    •  
  • 5 Massier Lane Lake Forest, CA 4
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1991
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.06
    •  
  • 44 Carriage Drive Lake Forest, CA 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1994
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.06
    •  
PROPERTY LISTING DETAILS
Karen Roberts
Century 21 Award
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20218632
Last Updated: 11/04/2020
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