Irvine: Westpark Overview
Median home price is $480,000. Based on a rental parity value of $606,000, this market is under valued.
Monthly payment affordability has been worsening over the last 2 month(s). Momentum suggests worsening affordability.
Resale prices on a $/SF basis increased from $334/SF to $336/SF.
Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months.
Median rental rates increased $16 last month from $2,458 to $2,475.
Rents have been rising for 12 month(s). Price momentum suggests rising rents over the next three months.
Market rating = 8
Proprietary Irvine Housing News home purchase analysis 
1 SANTA CATALINA AISLE Irvine, CA 92606
$698,900 …….. Asking Price
$369,000 ………. Purchase Price
7/23/1996 ………. Purchase Date
$329,900 ………. Gross Gain (Loss)
($29,520) ………… Commissions and Costs at 8%
============================================
$300,380 ………. Net Gain (Loss)
============================================
89.4% ………. Gross Percent Change
81.4% ………. Net Percent Change
4.1% ………… Annual Appreciation
Cost of Home Ownership
——————————————————————————
$698,900 …….. Asking Price
$139,780 ………… 20% Down Conventional
3.67% …………. Mortgage Interest Rate
30 ……………… Number of Years
$559,120 …….. Mortgage
$135,706 ………. Income Requirement
$2,564 ………… Monthly Mortgage Payment
$606 ………… Property Tax at 1.04%
$6 ………… Mello Roos & Special Taxes
$175 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$155 ………… Homeowners Association Fees
============================================
$3,506 ………. Monthly Cash Outlays
($405) ………. Tax Savings
($854) ………. Equity Hidden in Payment
$169 ………….. Lost Income to Down Payment
$107 ………….. Maintenance and Replacement Reserves
============================================
$2,522 ………. Monthly Cost of Ownership
Cash Acquisition Demands
——————————————————————————
$8,489 ………… Furnishing and Move In at 1% + $1,500
$8,489 ………… Closing Costs at 1% + $1,500
$5,591 ………… Interest Points
$139,780 ………… Down Payment
============================================
$162,349 ………. Total Cash Costs
$38,600 ………. Emergency Cash Reserves
============================================
$200,949 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale on the MLS.
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$712,000 10 SANTA CATALINA AISLE |
0.03 miles 4 bd / 2.5 ba 1,900 Sq. Ft. |
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