Is 116 Sunnyside reasonably priced at $1.80M?
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Considering its proximity to the freeway, you'd need to check elevation and wind direction from the 241 due to air pollution concerns. Fortunately, 241 has less vehicle traffic than I-5 and 405.
If you look at say, 14181 Moore Ct, it's a great (older) single level SFR on 6,500 sq ft lot and $65/month HOA. But it's also close to the I-5 and you'll be breathing freeway pollutants 24/7 at the house.
Furthermore, even with the additional $250 monthly payment—totaling $40,000 over 30 years—its present value, assuming a 2% annual inflation rate, is approximately $16,580.70 today
HOA fee doesn't cover trash collection. That's a separate service with Waste Management and it's about $60 every 3 months.
$250/mo for 360 months is $90,000 of payments, not $40,000. $250/mo towards a 6.5% mortgage for 30 years affords $40,000 of borrowing power today.
But anyway, sounds like you have all the help you need. Good luck with your home search!
momopi
Well-known member
Considering its proximity to the freeway, you'd need to check elevation and wind direction from the 241 due to air pollution concerns. Fortunately, 241 has less vehicle traffic than I-5 and 405.
If you look at say, 14181 Moore Ct, it's a great (older) single level SFR on 6,500 sq ft lot and $65/month HOA. But it's also close to the I-5 and you'll be breathing freeway pollutants 24/7 at the house.
someguy
Well-known member
I think 128 Messenger and 116 Sunnyside are slightly different products. They're both 4 bed though. 128 Messenger has an extra half bath. In that respect, pretty similar.
116 Sunnyside is a denser product - an attached condo.
128 Messenger is a detached condo. This is preferable and all else equal, will demand a higher $/sqft,
Consider HOA dues, which impact total house payment
116 Sunnyside: $551/mo
128 Messenger: $303/mo
If one paid $250 towards loan instead of HOA, at 6.5% for 30 years, that would cover about $40k of additional loan (about $20/sqft for a 2,000 sqft house).
Consider $/sqft of each
116 Sunnyside: $897
128 Messenger: $979 (TBD on final price)
Consider size
116 Sunnyside is claimed at 2,006sqft, 4 bed, 4 bath (I say claimed because sometimes this is exaggerated/inaccurate. Check county records.)
128 Messenger is claimed at 1,849sqft, 4 bed, 4.5 bath
Consider when they were built and what their history is.
116 Sunnyside looks to have been built in 2024 with some efforts to rent since then.
128 Messenger looks to have been built in 2020. Nothing stands out to suggest it was sold since then. I can't tell if it was owner occupied or rented. The former tends to bode better than the latter in terms of how the house was cared for, but not a guarantee.
Consider location
116 Sunnyside is very close to the 241 toll road.
128 Messenger is comfortably in the interior of the community.
They're both comfortably in high fire risk zone, but if a fire comes it's likely going to reach 116 Sunnyside first.
The higher $/sqft of 128 Messenger is likely due to it being a detached condo in a location further from the 241 toll road.
134 Newburry looks like a close comparable. It was sold for $1,560,000 on 10/25/24.
https://www.redfin.com/CA/Irvine/134-Sunnyside-92618/home/188060402
I see the same listing agent for 116 Sunnyside is also selling 146 Sunnyside with an ask of $1,716,000. 146 Sunnyside has only 3 bed and 3.5 bath though.
https://www.redfin.com/CA/Irvine/146-Sunnyside-92618/home/189772783
136 Newburry looks like a close comparable. Redfin thinks it's worth $1.6M (though these estimates are hardly reliable)
https://www.redfin.com/CA/Irvine/136-Newburry-92618/home/180707219
136 Sunnyside looks like a close comparable. Redfin thinks it's worth $1.64M (again, highly unreliable)
https://www.redfin.com/CA/Irvine/136-Sunnyside-92618/home/188060401
Having said all that, my answer is I don't know if $1.80M is a fair price. I'm not seeing evidence to convince me it's fairly priced, but the absence of evidence isn't good evidence.
If I had better access to comps I would look there. I would look at how long similar products have been on the market and at what asking price (if they're sitting more than 30 days, they're probably overpriced). There's some new homes for sale there - are any of them attached condos? If so, I would check out what the builders are offering - in soft market conditions like we're currently in, new builders tend to not be too far off from market after all their incentives plus upgrade costs are accounted for, especially on near completed products. Maybe a single digit premium for the privilege of buying direct from the builder.
If you're serious about your home search, my biggest recommendation would be to reach out to a great local realtor like @usctrojancpa . People like him are worth every penny. Don't try to do it alone on such a massive purchase. Don't team up with some wannabe realtor who doesn't know what they're doing other than hunting for commissions.
Good luck with your search!
116 Sunnyside is a denser product - an attached condo.
128 Messenger is a detached condo. This is preferable and all else equal, will demand a higher $/sqft,
Consider HOA dues, which impact total house payment
116 Sunnyside: $551/mo
128 Messenger: $303/mo
If one paid $250 towards loan instead of HOA, at 6.5% for 30 years, that would cover about $40k of additional loan (about $20/sqft for a 2,000 sqft house).
Consider $/sqft of each
116 Sunnyside: $897
128 Messenger: $979 (TBD on final price)
Consider size
116 Sunnyside is claimed at 2,006sqft, 4 bed, 4 bath (I say claimed because sometimes this is exaggerated/inaccurate. Check county records.)
128 Messenger is claimed at 1,849sqft, 4 bed, 4.5 bath
Consider when they were built and what their history is.
116 Sunnyside looks to have been built in 2024 with some efforts to rent since then.
128 Messenger looks to have been built in 2020. Nothing stands out to suggest it was sold since then. I can't tell if it was owner occupied or rented. The former tends to bode better than the latter in terms of how the house was cared for, but not a guarantee.
Consider location
116 Sunnyside is very close to the 241 toll road.
128 Messenger is comfortably in the interior of the community.
They're both comfortably in high fire risk zone, but if a fire comes it's likely going to reach 116 Sunnyside first.
The higher $/sqft of 128 Messenger is likely due to it being a detached condo in a location further from the 241 toll road.
134 Newburry looks like a close comparable. It was sold for $1,560,000 on 10/25/24.
https://www.redfin.com/CA/Irvine/134-Sunnyside-92618/home/188060402
I see the same listing agent for 116 Sunnyside is also selling 146 Sunnyside with an ask of $1,716,000. 146 Sunnyside has only 3 bed and 3.5 bath though.
https://www.redfin.com/CA/Irvine/146-Sunnyside-92618/home/189772783
136 Newburry looks like a close comparable. Redfin thinks it's worth $1.6M (though these estimates are hardly reliable)
https://www.redfin.com/CA/Irvine/136-Newburry-92618/home/180707219
136 Sunnyside looks like a close comparable. Redfin thinks it's worth $1.64M (again, highly unreliable)
https://www.redfin.com/CA/Irvine/136-Sunnyside-92618/home/188060401
Having said all that, my answer is I don't know if $1.80M is a fair price. I'm not seeing evidence to convince me it's fairly priced, but the absence of evidence isn't good evidence.
If I had better access to comps I would look there. I would look at how long similar products have been on the market and at what asking price (if they're sitting more than 30 days, they're probably overpriced). There's some new homes for sale there - are any of them attached condos? If so, I would check out what the builders are offering - in soft market conditions like we're currently in, new builders tend to not be too far off from market after all their incentives plus upgrade costs are accounted for, especially on near completed products. Maybe a single digit premium for the privilege of buying direct from the builder.
If you're serious about your home search, my biggest recommendation would be to reach out to a great local realtor like @usctrojancpa . People like him are worth every penny. Don't try to do it alone on such a massive purchase. Don't team up with some wannabe realtor who doesn't know what they're doing other than hunting for commissions.
Good luck with your search!
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I also like 24 Tree Clover, Irvine, CA 92618. 2000SF with a “Driveway”!!
I appreciate your advice; however, I don’t see that 116 Sunnyside is a wall-to-wall attached condo. Additionally, the extra $250 HOA fee for 30 years may not apply to everyone, as the average homeowner typically stays in the same house for about 10 years. Besides, this additional HOA fee often covers services such as trash collection…etc.
Furthermore, even with the additional $250 monthly payment—totaling $40,000 over 30 years—its present value, assuming a 2% annual inflation rate, is approximately $16,580.70 today
CalBears96
Well-known member
116 Sunnyside is probably Fiore, so it should be detached condo. In fact, none of the still ongoing PS communities is attached condo. Fiore and Arbor are detached condos. Sierra, Olivewood, Azul, and Cielo are single family homes.
HOA fee doesn't cover trash collection. That's a separate service with Waste Management and it's about $60 every 3 months.
someguy
Well-known member
The google maps street view is insightful as is the satellite view. 116 Sunnyside is an attached product. It's "Lapis" built by California Pacific Homes. "Luxury Town Homes" according to the sign. Exactly where is it attached? Well certainly they share the same roof and some common exterior walls. Anymore detail would require an onsite visit.
$250/mo for 360 months is $90,000 of payments, not $40,000. $250/mo towards a 6.5% mortgage for 30 years affords $40,000 of borrowing power today.
But anyway, sounds like you have all the help you need. Good luck with your home search!
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usctrojancpa
Well-known member
I would recommend staying away from attached condos as much as possible due to the insurance issues as HOAs are horrible in shopping for insurance. Detached condos always appreciate better than attached condos which is a function of having attached walls and higher HOAs. As such, Sunnyside is overpriced IMO.