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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $500.00
- 5 Days on Market
- MLS # : OC20226000
- Updated Date : 12/26/2020 at 14:03
CONSTRUCTION
- Beds : 3
- Floor Size : 1,600 sqft
- Baths : 2 full , 1 half
Listing Agent
First Team Real Estate
Listing Agent's Description
Make forever memories in this charming Santa Barbara style detached home located in the quiet community of Mericort. Situated on a premium, interior location overlooking a greenspace, you’ll be proud to call it home! Enter into the cozy main living area, where the fireplace will take the chill out of the cool winter air! The updated kitchen is a chef’s delight, featuring Cambria Quartz counters & farm-style sink. A large island with a wine fridge, storage & seating is the perfect place for casual dining. The spacious dining area has a sliding door leading to your lush, private backyard retreat. Hardwood floors in the kitchen & dining area, as well as plantation shutters throughout the main level, add warmth & comfort to the living spaces. Upstairs are all three bedrooms. When you’re ready to unwind at the end of the day, the master suite is the place to be, with rich dark wood shutters & a large walk-in closet. Also separated from the secondary bedrooms, the master offers the utmost in privacy. The master bath features a separate shower & over-sized soaking tub. The two large secondary bedrooms share a Jack & Jill bath, with a dual vanity & a separate tub/shower area. Whether it’s coffee in the morning or wine in the evening, you’ll enjoy the backyard ambiance, which features Flagstone floors. There's enough room to plant some flowers. Attend award winning schools including Hicks Canyon Elem, Orchard Hills Middle school & Beckman High, just a short walk away! Welcome Home!
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MARKET HIGHLIGHTS
- 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.
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Trailing Vine
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Trailing Vine
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,110 |
| EXPENSES | Loan Payment | -$2,952 |
| Property Tax | -$849 | |
| Property Insurance | -$66 | |
| HOA | -$170 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$1,079
|
||
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.
$800,000
PROJECTED PRICE
$3,110
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,750
LOAN DETAILS
$2,952
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $200,000 |
| Loan Amount | $600,000 |
0.25
YEARS SAVED
$379
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,110
LIST RENT -
$1.94
LIST RENT PER SQFT
-
$3,112
COMP ESTIMATED VALUE -
$1.94
COMP AVG. RENT PER SQFT
Comps Range
-
71 Night Bloom Irvine, CA 1
- 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $3,110
- $1.94
-
12 Avalon Irvine, CA 2
- 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 3
- 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 4
- 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
-
3 Evensen Irvine, CA 5
- 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2002
LEASED 08/03/20- Rent
- Rent Per SQFT
- $3,400
- $1.89
PROPERTY LISTING DETAILS
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20226000
Last Updated: 12/26/2020
