Brio in Beacon Park

S

Sunnyirvine

Member
Want to know your opinion, if Brio, Plan 1 approx 625k single level is a good rental or long term investment.

HOA $360 per month.
 
Depends on how much you are putting down and your cash flow but for 625k, there are better options that you can do with rentals outside of Irvine.  Bottom floor flat is a tough sell for me.  That would probably fetch $2800 a month which wouldn't come close to covering the mortgage payment.

Long term investment is a tough call since it feels we are close to the top of the market.  I would get a Tustin Greenwood home or Harper home in BP for 100k more for the money.
 
High MR properties won't cash flow. Unless you are banking on an appreciation play.  $625k + some upgrades for 1500sf feels rich judging by closed comps.
 
for rental comps, just found an older place recently for about $600k-ish and rents for about $2400-ish, low hoa, so it's a give and take
 
AW said:
for rental comps, just found an older place recently for about $600k-ish and rents for about $2400-ish, low hoa, so it's a give and take
Click to expand...
I am not a rental expert (so I'll caveat this right off the bat) but when it comes to rental comps, I think largely the comps go by number of rooms vs. square footage. I also don't think you get much of a premium for new vs. old (at least when you are talking older homes). So if you think from a landlord perspective, I would presume, in most cases, especially when focused on cash flow, you are better off finding an older place in Irvine for less money with lower taxes. That said, you might miss out on some appreciation benefits but I don't know that much anything in today's market has significant appreciation upside (at least not in the next 3-5 years). Longer term, maybe, but I usually think of a rental as being something to generate cash flow first (with appreciation being a far more secondary draw).

One of the resident realtors could probably provide more perspective. I'd also think whatever you get, you'd want at least 3 rooms. I certainly wouldn't want to be a landlord competing with the TIC properties. Those amenities they offer are pretty damn nice, so I don't want my unit competing with them, I want at least 3 BR so I'm not competing with a glut of apartments.   
 
bones said:
Brio plan 1 can be 3 bed.

Between MR and HOA, already $800 OTD every month.
Click to expand...

use-the-interest-in-a-checking-account-i-barely-touch.jpg
 
Thank you all for your straightforward input. I really appreciate your thoughts.

Single level and being in the first phase of buying attracted but I think I need to do a little more homework.

Thanks!!!
 
You must log in or register to reply here.
Back
Top