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71 Tavella Place Lake Forest, CA 92610

3 Beds 3 Baths 2,200 sqft Built 1991

$924,900

List Price

$3,410

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $420.41
  • 5 Days on Market
  • MLS # : OC20236410
  • Updated Date : 11/13/2020 at 17:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Nestled among rolling hills in the charming community of Foothill Ranch, this exquisite home offers rare privacy & panoramic city lights & sunset views w/ no neighbors behind you.The bright & spacious 3 bedroom plus loft, exercise nook & 2.5 baths make up approx 2200 square feet of comfortable living space.Offering over $120K of custom upgrades,the home’s walls of windows & soaring ceilings lend an airy refinement,while details like upgraded laminate flooring & designer paint. The home’s stylish formal living & dining rooms make entertaining a cinch, while the family room’s gas fireplace w/ upgraded tiles offers warmth. The spacious kitchen features stunning white cabinetry w/quartz countertops & trendy backsplash,new stainless steel appliances & adjacent breakfast nook. Custom appointments include a sunroom which is not included in the square footage of the home, water filtration system, electrical subpanel w/ 240V outlet, owned solar panels,upgraded garage cabinets w/epoxy flooring & new garage door. The master suite is located upstairs & encompasses rich details including a walk-in closet,dual vanity,large soaking bathtub & separate shower. All bathrooms have been remodeled. Enjoy the convenience of an inside laundry room w/sink. The private backyard offers amazing sunset views w/ a new patio cover, custom flooring & synthetic turf. Enjoy this perfectly located home—w/ close proximity to Whiting Ranch Wilderness Park & walking distance to Foothill Ranch Elementary School.

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: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19033818

* 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
 

$832,410$1,017,390$924,900

PURCHASE PRICE

$3,069$3,751$3,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$3,412
Property Tax -$806
Property Insurance -$81
HOA -$84
Property Management Fees -$167
CASH FLOW
-$1,140

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.

$924,900

PROJECTED PRICE

$3,410

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.0%
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$15k

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$250,849

INVESTMENT

$250,849

Down Payment
$231,225
Rehab Estimate
$5,750
Closing Costs
$13,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,412

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $231,225
Loan Amount $693,675
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,410

    LIST RENT
  • $1.54

    LIST RENT PER SQFT
  • $3,635

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$3,410
1$3,4102$3,4653$3,5004$3,5005$3,595
$3,595
RENT COMPS ANALYSIS
  • 71 Tavella Place Lake Forest, CA 1
    • 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $3,410
    • $1.54
    •  
  • 47 Massier Lane Lake Forest, CA 2
    • 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1991
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,465
    • $1.69
    •  
  • 42 Blanco Lake Forest, CA 3
    • 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 1991
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.51
    •  
  • 5 Cozumel Lake Forest, CA 4
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 1993
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.66
    •  
  • 21 Tresaunce Way Lake Forest, CA 5
    • 3 beds 3 baths ∙ 2,127 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,127 Sqft ∙ Built 1993
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,595
    • $1.69
    •  
PROPERTY LISTING DETAILS
Tim Morissette
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20236410
Last Updated: 11/13/2020
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