Renting out an SFR in Irvine (not in a community)

stevers

New member
I'm estimating the rental income and demand for my SFR house in El Camino Glen (Yale and Walnut).  4 bed, 3 bath, 1950sq ft.  Zillow puts the estimate at $3,400, but I question if this is accurate.  Even though it has no community amenities/HOA, it does have a full driveway and a backyard.  Condition is fair, but not great.  Upgraded throughout the years, but doesn't have the luxe feeling of a new community.

Questions:
- Is zillow's estimate usually on the high side, or spot on?
- Are SFR non-community rentals in high demand?  I hear that Irvine places don't stay vacant for very long, but I think that applies to newer communities.
- With new communities sporting hefty HOA and mello roos, do you see these kinds of homes appreciating faster than new constructions?  I flipped when I saw the mello roos for great park neighborhoods.

I've never lived in a new community in Irvine, and I've been eyeing townhomes in newer communities.  My current thought is to rent out my current place and buy in Eastwood Village or Cypress Village.  If my current place cannot rent for more than my expenses, I'll have to really consider selling.
 
I just ran some rental comps for you on MLS for 4 bedroom detached homes ranging from 1,800sf to 2,100sf in El Camino that were leased out in the past year and the range is $3,200/mo to $3,600/mo so $3,400/mo seems reasonable.  See the list below....

PW16760347 L SFR/D 4121 Glenwood ST IR EC 4/2,0,1,0 $3,200 $1.58 62/62 2025/A 1971/ASR 2 0.1148/5,000 02/08/17

OC16747011 L SFR/D 4141 Homestead ST IR EC 4/2,0,1,0 $3,250 $1.61 82/82 2017/A 1972/ASR 2 0.1148/5,001 02/24/17

OC16186491 L SFR/D 14732 BEL AIRE ST IR EC 4/3,0,0,0 $3,300 $1.58 4/4 2089/P 1973/ASR 2 0.115/5,000 09/01/16

OC16038301 L SFR/D 18 Star Thistle IR EC 4/1,2,0,0 $3,300 $1.58 33/33 2095/A 1974/ASR 2 0.095/4,131 05/01/16

OC16158657 L SFR/D 4941 Barkwood AV IR EC 4/3,0,0,0 $3,400 $1.89 2/2 1800/A 1971/EST 2 0.115/5,000 08/01/16

PW16152584 L SFR/D 4882 Kron IR EC 4/3,0,0,0 $3,600 $1.80 14/14 2000/E 1972/ASR 2 0.161/7,000 08/04/16

CV16179194 L SFR/D 14752 Doncaster RD IR EC 4/3,0,0,0 $3,600 $1.75 15/15 2056/A 1970/ASR 2 0.115/5,000 08/31/16
 
Thanks for the info!  I recognize two addresses on barkwood and doncaster.  They were purchased last year; did not realize both were bought then immediately rented out.  I guess I'll plan on buying in the summer and renting out my place before the school year starts.
 
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