Score
0Irvine, CA
59 Ivory Petal
1.5M
3 beds
2 baths
1,704 sqft
3 bd • 2 ba • 1,704 sf
This analysis was generated on 1/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$1,486,600
Price/Sq.Ft
$872
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 59 Ivory Petal, Irvine, CA 92620 offers several attractive features:
1. Location: Situated in the highly desirable Irvine area, known for its master-planned communities and excellent amenities. The image shows a well-maintained, aesthetically pleasing neighborhood with manicured landscaping.
2. Size: At 1,704 sq ft, this 3-bedroom, 2-bathroom house is spacious enough for a small family or professionals working from home. It's 13% larger than the average 3-bedroom rental in Irvine (1,500 sq ft).
3. Potential rental income: Based on the provided rental rates, a 3-bedroom property in Irvine can command $4,410/month in rent. This suggests a potential gross rental yield of 3.56% annually, which is reasonable for a high-value area like Irvine.
4. Community features: The image shows a private, gated-looking community with ample green spaces, suggesting good HOA maintenance and potentially desirable shared amenities.
5. Architectural style: The Mediterranean-inspired design with tile roofs and stucco exteriors is popular and tends to hold value well in Southern California markets.
6. Market position: While priced high at $1,486,600, it's within range for Irvine's competitive market. The price per square foot ($872.42) is indicative of the area's premium status.
The Bad
1. High price point: At $1,486,600, this property is significantly above the median home value in most US markets, limiting the pool of potential buyers.
2. Price per square foot: $872.42/sq ft is exceptionally high, even for Irvine. This suggests the property might be overpriced compared to market averages.
3. Limited information: The lack of details about the property's age, features, and condition makes it difficult to fully assess its value and potential issues.
4. Potential HOA restrictions: Given the uniform appearance of the neighborhood, there are likely strict HOA rules that may limit personalization and increase monthly costs.
5. Lack of uniqueness: The property appears similar to others in the community, which may make it harder to stand out in a competitive market.
6. Affordability concerns: With Irvine's median income at $131,521, this home's price is over 11 times the median income, far exceeding typical affordability ratios.
The Ugly
1. Potential Mello-Roos taxes: Many Irvine communities have additional Mello-Roos taxes, which can add thousands to annual property tax bills. Without specific information, this could be a hidden cost.
2. HOA fees: While not specified, HOA fees in similar Irvine communities can range from $300-$800 monthly. This could add $3,600-$9,600 annually to ownership costs.
3. Total monthly ownership costs: Assuming a 20% down payment and a 30-year mortgage at 6% interest, the monthly costs break down as follows:
- Mortgage: $7,130
- Property tax (1.1% + potential Mello-Roos): $1,360+
- HOA (estimated): $500
- Insurance (estimated): $200
Total: $9,190+ per month or $110,280+ annually
4. Income requirement: To afford this property (using a 36% debt-to-income ratio), a household would need an annual income of approximately $305,000, which is 2.3 times Irvine's median income.
5. Market volatility risk: High-end properties in desirable areas can be more susceptible to market fluctuations. Any economic downturn could significantly impact property values.
6. Limited appreciation potential: Given the already high price point, future appreciation may be limited compared to more moderately priced markets.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. High-income professionals or executives earning $300,000+ annually, likely in tech, healthcare, or finance sectors.
2. Families prioritizing Irvine's excellent school system and safe neighborhoods, willing to pay a premium for these benefits.
3. Foreign investors looking for a stable, high-end real estate market with strong rental potential.
4. Empty nesters or retirees downsizing from larger homes but wanting to maintain a luxury lifestyle in a managed community.
5. Buyers who value a turnkey property in a well-maintained, aesthetically pleasing neighborhood with likely amenities such as pools, parks, and trails.
Not For
This property is not suitable for:
1. First-time homebuyers or those with household incomes below $300,000, due to the high purchase price and ongoing costs.
2. Investors seeking high rental yields or significant cash flow, as the potential rental income ($4,410/month) falls well short of likely mortgage payments.
3. Buyers looking for unique or historically significant properties, as this home is part of a uniform, planned community.
4. Those who prefer low-maintenance or hands-off homeownership, as HOA restrictions likely require adherence to community standards.
5. Buyers uncomfortable with potential additional costs like Mello-Roos taxes or rising HOA fees.
6. Large families needing more than 3 bedrooms or significantly more space than 1,704 sq ft.
Demographics
Area Median Income
$131,521
Property History
Price History
Ownership Timeline
$736,500Financed
Jan 14, 2015Irvine Pacific LpJeetendra Soneja
Grant Deed
New Construction Residential Transactions
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
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Schools
Nearby school quality by education level
Elementary
7.0/10
GoodMiddle
8.5/10
ExcellentHigh
9.0/10
ExcellentFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$2,480
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$1,486,600
Price/sqft
$872
Layout
3 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$1,398,133
6.3%
Your price is 6.3% above average
Median Price
$1,500,000
0.9%
Based on 6 recent sales
Price per Sq.Ft
$896
2.6%
Your price is 2.6% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 125 Burgess, Irvine, CA 92618 | $1,500,000 | 1,579 | 3 | 2 | $9508.9% | 11/4/2024 |
| 5121 Doanoke Avenue, Irvine, CA 92604 | $1,400,800 | 1,480 | 4 | 2 | $9468.5% | 10/25/2024 |
| 20 Magellan Aisle, Irvine, CA 92620 | $1,025,000 | 1,388 | 3 | 2 | $73815.4% | 8/12/2024 |
| 30 Roycroft, Irvine, CA 92620 | $1,633,000 | 1,656 | 3 | 3 | $98613.0% | 11/14/2024 |
| 511 Rush Lily, Irvine, CA 92620 | $1,500,000 | 1,611 | 3 | 3 | $9316.7% | 11/23/2024 |
| 64 Granite, Irvine, CA 92620 | $1,330,000 | 1,611 | 3 | 3 | $8265.4% | 11/13/2024 |
125 Burgess, Irvine, CA 92618
Price: $1,500,000
Sq.Ft: 1,579
Beds/Baths: 3/2
$/Sq.Ft:
$9508.9%
Sale Date: 11/4/2024
5121 Doanoke Avenue, Irvine, CA 92604
Price: $1,400,800
Sq.Ft: 1,480
Beds/Baths: 4/2
$/Sq.Ft:
$9468.5%
Sale Date: 10/25/2024
20 Magellan Aisle, Irvine, CA 92620
Price: $1,025,000
Sq.Ft: 1,388
Beds/Baths: 3/2
$/Sq.Ft:
$73815.4%
Sale Date: 8/12/2024
30 Roycroft, Irvine, CA 92620
Price: $1,633,000
Sq.Ft: 1,656
Beds/Baths: 3/3
$/Sq.Ft:
$98613.0%
Sale Date: 11/14/2024
511 Rush Lily, Irvine, CA 92620
Price: $1,500,000
Sq.Ft: 1,611
Beds/Baths: 3/3
$/Sq.Ft:
$9316.7%
Sale Date: 11/23/2024
64 Granite, Irvine, CA 92620
Price: $1,330,000
Sq.Ft: 1,611
Beds/Baths: 3/3
$/Sq.Ft:
$8265.4%
Sale Date: 11/13/2024
Frequently Asked Questions
Property Discussion
1 commentYou
m
mark 1/25/2025
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