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8 Chamomile #27 Irvine, CA 92604

3 Beds 3 Baths 1,653 sqft Built 1980

$808,000

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $488.81
  • 10 Days on Market
  • MLS # : WS21013994
  • Updated Date : 01/29/2021 at 08:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,653 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Masters

Listing Agent's Description

Beautiful condo in a quiet neighborhood. In the Yale Loop, this home is near parks, shopping, schools and a short walk to North Lake and Lagoon. Enjoy all of Woodbridge's amenities: the lake, pools, tennis courts, parks, sports courts, sand volleyball courts, BBQ’s, club house, kids play sand area and loads of other great family-friendly activities. Buyers are greeted with high ceilings, lots of light, and an open floor plan on the first level. The ground level features a living room, large kitchen, dining area, downstairs bedroom, and powder room. The HVAC was replaced in the summer of 2019, and there is central heating along with a large fireplace located in the main living area. The kitchen features granite countertops, cabinets, ample storage, and stainless steel appliances. Two bedrooms and two bathrooms are located on the second level. The master bedroom has an attached bath with a double vanity, soaking tub, and separate room for the shower and toilet. The backyard provides a large space for a patio deck and area for outdoor enjoyment with minimal landscaping care, brick wall and full trees for extra privacy.

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: Hollygrove West

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $239k943k

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

Neighborhood: Hollygrove West

ZipNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18443809

* 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
Eastshore Elementary School Primary Regular 635 21 8
Lakeside Middle School Middle Regular 650 21 10
Woodbridge High School High Regular 2,480 82 10

Eastshore Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 21
8
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 650
  • # of teachers: 21
10
GreatSchools Rating

Woodbridge High School

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

$727,200$888,800$808,000

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$2,806
Property Tax -$736
Property Insurance -$67
HOA -$105
Property Management Fees -$157
CASH FLOW
-$662

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$808,000

PROJECTED PRICE

$3,210

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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$20k

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$219,870

INVESTMENT

$219,870

Down Payment
$202,000
Rehab Estimate
$5,750
Closing Costs
$12,120

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $202,000
Loan Amount $606,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$9,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $1.94

    LIST RENT PER SQFT
  • $3,203

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1503$3,2104$3,2505$3,250
$3,250
RENT COMPS ANALYSIS
  • 8 Chamomile Irvine, CA 3
    • 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $1.94
    •  
  • 4 Windwood Irvine, CA 1
    • 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 1977
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.94
    •  
  • 5 Driftwood Irvine, CA 2
    • 3 beds 3 baths ∙ 1,646 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,646 Sqft ∙ Built 1976
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.91
    •  
  • 7 Fernbank Irvine, CA 4
    • 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1980
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.97
    •  
  • 3 Clove Blossom Irvine, CA 5
    • 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1978
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.93
    •  
PROPERTY LISTING DETAILS
Michael Yue
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21013994
Last Updated: 01/29/2021
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