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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $481.77
- 6 Days on Market
- MLS # : NP21006165
- Updated Date : 01/12/2021 at 17:32
CONSTRUCTION
- Beds : 3
- Floor Size : 1,920 sqft
- Baths : 2 full , 1 half
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Welcome to Tustin Legacy! This beautiful home offers 3 bedrooms and 2.5 baths, along with an office/den on the main floor. The inviting floorplan provides an open concept living with kitchen, dining and living areas. Chefs kitchen with ample working space, large center island/breakfast bar, designer tile back splash, granite counters, plenty of cupboard space and stainless steel appliances. All 3 bedrooms are upstairs, including a generous master with an en suite that offers dual sinks, a soaking tub, separate shower and a sizable walk in closet. For convenience and efficiency the laundry room is located upstairs as well and offers a huge open shelving linen closet. Additionally you will find recessed lighting, plantation shutters, gorgeous easy to maintain floors on the main level and carpet offering quiet warmth for the upstairs bedrooms. The private rear yard provides covered patio and finished hardscape making back yard entertaining a delight. 2 car finished garage with room for storage and direct access to the home. Tustin Legacy community offers resort style living, you will enjoy the clubhouse, along with a loggia with a fireplace with plenty of seating, Firepit, BBQ area, basketball court, two bocce ball courts, a picnic pavilion, huge swimming pool, spa, interactive waterplay area, and a large lawn area. This property is perfectly located near the District which provides, shopping, restaurants and movie theaters.
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: Tustin Legacy
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Tustin Legacy
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,560 |
| EXPENSES | Loan Payment | -$3,213 |
| Property Tax | -$909 | |
| Property Insurance | -$73 | |
| HOA | -$290 | |
| Property Management Fees | -$174 | |
|
CASH FLOW
-$1,100
|
||
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.
$925,000
PROJECTED PRICE
$3,560
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.4% |
| 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
$250,875
LOAN DETAILS
$3,213
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $231,250 |
| Loan Amount | $693,750 |
0.33
YEARS SAVED
$703
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,560
LIST RENT -
$1.85
LIST RENT PER SQFT
-
$3,562
COMP ESTIMATED VALUE -
$1.86
COMP AVG. RENT PER SQFT
Comps Range
-
93 Barnes Road Tustin, CA 4
- 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2016
- Rent
- Rent Per SQFT
- $3,560
- $1.85
-
15540 Sonora Street Tustin, CA 1
- 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2007
LEASED 11/17/20- Rent
- Rent Per SQFT
- $3,200
- $1.83
-
35 Avanzare Irvine, CA 2
- 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 1997
LEASED 03/02/20- Rent
- Rent Per SQFT
- $3,250
- $1.74
-
5 Barnes Road Tustin, CA 3
- 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2016
LEASED 04/27/20- Rent
- Rent Per SQFT
- $3,550
- $1.91
-
35 Barnes Rd Tustin, CA 5
- 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2015
LEASED 10/23/20- Rent
- Rent Per SQFT
- $3,600
- $1.94
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservice
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: NP21006165
Last Updated: 01/12/2021
