Irvine: Walnut Overview
Median home price is $506,000. Based on a rental parity value of $592,000, this market is fairly valued.
Monthly payment affordability has been worsening over the last 4 month(s). Momentum suggests worsening affordability.
Resale prices on a $/SF basis declined from $285/SF to $283/SF.
Resale prices have been falling for 10 month(s). Price momentum suggests falling prices over the next three months.
Median rental rates increased $240 last month from $2,260 to $2,500.
Rents have been slowly rising for 12 month(s). Price momentum suggests slowly rising rents over the next three months.
Market rating = 2
Proprietary Irvine Housing News home purchase analysis 
14442 MAJORCA Ave Irvine, CA 92606
$520,000 …….. Asking Price
$448,500 ………. Purchase Price
9/16/2002 ………. Purchase Date
$71,500 ………. Gross Gain (Loss)
($35,880) ………… Commissions and Costs at 8%
============================================
$35,620 ………. Net Gain (Loss)
============================================
15.9% ………. Gross Percent Change
7.9% ………. Net Percent Change
1.6% ………… Annual Appreciation
Cost of Home Ownership
——————————————————————————
$520,000 …….. Asking Price
$104,000 ………… 20% Down Conventional
3.88% …………. Mortgage Interest Rate
30 ……………… Number of Years
$416,000 …….. Mortgage
$104,247 ………. Income Requirement
$1,957 ………… Monthly Mortgage Payment
$451 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$130 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$155 ………… Homeowners Association Fees
============================================
$2,693 ………. Monthly Cash Outlays
($314) ………. Tax Savings
($612) ………. Equity Hidden in Payment
$138 ………….. Lost Income to Down Payment
$85 ………….. Maintenance and Replacement Reserves
============================================
$1,989 ………. Monthly Cost of Ownership
Cash Acquisition Demands
——————————————————————————
$6,700 ………… Furnishing and Move In at 1% + $1,500
$6,700 ………… Closing Costs at 1% + $1,500
$4,160 ………… Interest Points
$104,000 ………… Down Payment
============================================
$121,560 ………. Total Cash Costs
$30,400 ………. Emergency Cash Reserves
============================================
$151,960 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..
We're sorry, but it seems that we're having some problems loading MLS # S690662 from our database. Please check back soon.
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