New Toll Brothers Home Lake Forest 4bd/4bth for rent, $5500/month + utilities

L

lakeforestrental

New member
For Rent: 4bd 4 bath Lake Forest (Bake Pkwy/Rancho Pkwy)

This is a BRAND NEW SINGLE FAMILY HOME built by Luxury builder: Toll Brothers!

The MEADOWS community offers resort-style amenities including large recreation center, pools, parks, playgrounds, dog parks and outdoor fireplace & picnic areas, and excellent K-8 schools, designed and cultivated by Toll Brothers.

This home has 4 Bedrooms/4 Baths. 1 Bed/1 Bath on first floor and 3 Bed/3bath on second floor. Open floor plan with California room and expansive private backyard and 2 car garage. Fully upgraded appliances. Gourmet kitchen with fully upgraded appliances. Lots of windows and plenty of sunlight throughout the house. Great upgrades in home include recessed lighting in all rooms, ceiling mounted speakers in great room and bonus room, EV charging port for EV vehicles and Solar panels to reduce electricity costs.

This location is very convenient: close to Irvine Spectrum and Irvine Technology work center, Great Park, Foothill Ranch shopping center and numerous convenient shopping centers.

Solar included, Tenants pay less power for Edison and other utilities.

This won't last long! Contact/email now for more information!
 
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The description is vague. The only ones you can rule out are Evergreens and Magnolias, Redwoods Elite, and Parklands (3 stories).

Even though Willows say 4bd / 4ba, it's actually powder room downstairs, so you probably can rule out Willows as well.

So I guess that leaves Oaks and Redwoods. Redwoods are ~2300 sq ft and Oaks are ~2700 sq ft. Oaks are motor court homes with a driveway.
 
Hello, the floor plan is the Oaks floorplan, listed at 2728 sqft. There is a downstairs bedroom with en suite bathroom, two additional bdrms and 2 bathrooms on the 2nd floor, in addition to the Primary suite and primary bathroom + walk in closet (total of 4bd/4bth)

Here is a link to the Zillow listing:
www.zillow.com

110 Edna Pkwy, Lake Forest, CA 92630 | Zillow

110 Edna Pkwy, Lake Forest CA, is a Single Family home that contains 2728 sq ft and was built in 2022.It contains 4 bedrooms and 4 bathrooms. The Zestimate for this Single Family is $1,922,700, which has increased by $31,777 in the last 30 days.The Rent Zestimate for this Single Family is...
www.zillow.com www.zillow.com

Owner is motivated to rent the home, so the price was recently lowered to $5100/month.
Please share if you know someone that is interested. Thanks!
 
Wow - rents deflating already - the next problem will be tenants qualifying. Doesn't seem like enough to carry the PITI or a lame cap rate for a cash purchase.
 
Also, this is a bullish sign for equities as $5100/mo for 4BR new construction represents significant rent deflation so the Fed may like what it sees and pause a bit
 
usctrojancpa said:
That means that rates won't go to 10%. ;)
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It's 50/50 to me - we haven't seen a normally functioning mortage market since pre-dotcom bubble. I think they may spike to the 9 range and will settle ~7 for the next few years, maybe longer. sub-5% rates I doubt will ever be seen.
 
OCtoSV said:
It's 50/50 to me - we haven't seen a normally functioning mortage market since pre-dotcom bubble. I think they may spike to the 9 range and will settle ~7 for the next few years, maybe longer. sub-5% rates I doubt will ever be seen.
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Yes we will, once the Fed pivots and starts cutting rates when inflation goes negative in the next 12-24 months.
 
usctrojancpa said:
Yes we will, once the Fed pivots and starts cutting rates when inflation goes negative in the next 12-24 months.
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OCtoSV still hasn't come to terms yet that we will NOT see 10%.

He's going to be wrong on all 3 of his predictions:

1. Oil price going to $300.
2. Mortgage rate going to 10%.
3. Irvine condos dropping by 50% by June 2023.
 
usctrojancpa said:
Yes we will, once the Fed pivots and starts cutting rates when inflation goes negative in the next 12-24 months.
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Now you've departed from reality and are talking your book - why would the Fed cut rates, and what will be the driver for lower mortgage rates? The MBS market is a disaster. Why would banks put low yielding mortgages on their books? The Fed wants RE to crash.
 
OCtoSV said:
Now you've departed from reality and are talking your book - why would the Fed cut rates, and what will be the driver for lower mortgage rates? The MBS market is a disaster. Why would banks put low yielding mortgages on their books? The Fed wants RE to crash.
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Negative inflation while the world mfg base is getting out of China, a key contributor to prior decades of low inflation - that's funny
 
OCtoSV said:
Now you've departed from reality and are talking your book - why would the Fed cut rates, and what will be the driver for lower mortgage rates? The MBS market is a disaster. Why would banks put low yielding mortgages on their books? The Fed wants RE to crash.
Click to expand...

Why? Because we'll be in recession and inflation will turn negative due to job losses so all bonds, including MBS bonds, will catch at bid as the market will begin pricing Fed easing. Yes, the Fed wants the real estate market to cool off not to crash it....there's a difference.
 
OCtoSV said:
Negative inflation while the world mfg base is getting out of China, a key contributor to prior decades of low inflation - that's funny
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Inflation is primarily driven by Fed printing, Gov't checks, and a strong labor market increasing wages. The first two are gone and the third one will happen starting in 2023.
 
usctrojancpa said:
Inflation is primarily driven by Fed printing, Gov't checks, and a strong labor market increasing wages. The first two are gone and the third one will happen starting in 2023.
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Too broad of an analysis. So many drivers but food and energy are the hardest to corral. Groceries up 12%, lunchmeat up 19%. Elec & Nat Gas up 17 and 14%. Until labor participation rate increases and we start making more stuff inflation will be persistently high and the Fed's blunt tool of interest rates is only going to serve to deflate asset prices, primarily in real estate.
 
OCtoSV said:
Too broad of an analysis. So many drivers but food and energy are the hardest to corral. Groceries up 12%, lunchmeat up 19%. Elec & Nat Gas up 17 and 14%. Until labor participation rate increases and we start making more stuff inflation will be persistently high and the Fed's blunt tool of interest rates is only going to serve to deflate asset prices, primarily in real estate.
Click to expand...
Now step back and look at the big picture - 10 yrs of low cost money and 20 years of low cost labor arbitrage all just went out the window. Cost of money and labor are way up. And we haven't even touched on QT where the Fed is letting $100B/mo run off their balance sheet massively swelling the supply of long duration assets. The Fed wants to see capitulation in the RE market and it will take another year to feel the impacts of their 2022 actions.
 
OCtoSV said:
Now step back and look at the big picture - 10 yrs of low cost money and 20 years of low cost labor arbitrage all just went out the window. Cost of money and labor are way up. And we haven't even touched on QT where the Fed is letting $100B/mo run off their balance sheet massively swelling the supply of long duration assets. The Fed wants to see capitulation in the RE market and it will take another year to feel the impacts of their 2022 actions.
Click to expand...

The Fed has already created a lot of pain in real estate, Irvine hasn't been as effected as other parts of the country like the hot money markets like Boise, Phoenix, Arizona, etc. The Fed hikes haven't even fully worked their way through the system, it takes about 12-18 months. Also, you are hearing more and more about layoffs and hiring freezes so the job market will begin to cool off in short order. The Fed will stop rates around 5% and leave them there for at least 9-12 months to squash inflation.
 
usctrojancpa said:
The Fed has already created a lot of pain in real estate, Irvine hasn't been as effected as other parts of the country like the hot money markets like Boise, Phoenix, Arizona, etc. The Fed hikes haven't even fully worked their way through the system, it takes about 12-18 months. Also, you are hearing more and more about layoffs and hiring freezes so the job market will begin to cool off in short order. The Fed will stop rates around 5% and leave them there for at least 9-12 months to squash inflation.
Click to expand...
One of my old Trojan brothers who has been a TX RE investor, business owner and realtor for a couple decades proposed a bet this morning that the 10 yr has peaked today at 4.33%. I took the over. The Austin market has tanked so he needs rates to go back down.
 
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