Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9 Blanco Lake Forest, CA 92610

3 Beds 3 Baths 1,500 sqft Built 1993

$799,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $532.67
  • 16 Days on Market
  • MLS # : OC21004502
  • Updated Date : 01/21/2021 at 13:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Come live your best life in this gorgeous Foothill Ranch home nestled on a quiet cul-de-sac with a large, private backyard that borders a lush greenbelt. The bright & spacious 3 bedroom & 2.5 bath home makes up approximately 1500 square feet of comfortable living space and has been beautifully upgraded and remodeled to provide an open concept floorplan with wood flooring downstairs, plantation shutters throughout and upgraded light fixtures. Upon entering you're greeted with a light-infused great room with high ceilings, and a beautiful marble-accented fireplace. The completely remodeled kitchen (spring of 2020) features a large center island with a white quartz counter and eat-at counter and pendant lighting. The abundant cabinetry is white shaker style, s/s appliances and wine/coffee bar. The owner's suite is spacious and has a walk-in closet. The owner's bath has been remodeled with newer cabinetry, a subway tile backsplash and newer fixture, while the shower has been redone with tile. Two other separate secondary bedrooms share a beautifully remodeled full bath with a new vanity, quartz counters and quartz like tile surround tin tub/shower. The low maintenance backyard is perfect for outdoor entertaining and dining with a covered patio, a built in, streamlined concrete BBQ, a putting green and artificial landscaping turf.

SEE MORE

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: 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
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$2,775
Property Tax -$694
Property Insurance -$63
HOA -$84
Property Management Fees -$150
CASH FLOW
-$707

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.

$799,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.38%

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

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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,724

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $3,053

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,060
1$3,0602$3,1003$3,2004$3,3005$3,300
$3,300
RENT COMPS ANALYSIS
  • 9 Blanco Lake Forest, CA 1
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $2.04
    •  
  • 5 Espalier Drive Lake Forest, CA 2
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1996
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.91
    •  
  • 15 Massier Lane Lake Forest, CA 3
    • 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,517 Sqft ∙ Built 1990
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.11
    •  
  • 44 Carriage Drive Lake Forest, CA 4
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1994
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.06
    •  
  • 54 Enfilade Avenue Lake Forest, CA 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1995
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.06
    •  
PROPERTY LISTING DETAILS
Misty Tracy
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21004502
Last Updated: 01/21/2021
BESbswy