Irvine Housing Blog

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Westpark or West Irvine? Posted: 09 Jul 2012 05:00 AM PDT A four bedroom, 2.5 or 3 bath room house is a necessity for a middle-class family of four with an occasionally working from home parent.  For a city with a median income of $107,546, and excellent school district, Irvine offers a lot of properties in that price range. Today, we will compare two such properties priced at $699,000. 16 SANTA CATALINA AISLE, IRVINE CA 92606 Listing Price: $699,000 Beds: 4 Baths: 2.5 Sq. Ft.: 1,900 $/Sq. Ft.: $368 Lot Size: 2,928 SF Property Type: Residential, Single Family Style: Two Level, Contemporary Year Built: 1996 Community: Westpark Builders Tract Name: Ravenna Builders Tract Code: RAVE Builders Model Code: B Monthly expenses: HOA Dues: $155/month ($47+$108) Monthly Mortgage (30 YR Fixed, 3.625%): $2,550 Pricing History: June 08, 2012 Listed (Active) $699,000 Dec 23, 1996 Sold (Public Records) $241,000 Monthly Fixed Expenses: $2,705 Schools assigned: Plaza Vista Elementary School API Rank: 10 API Growth: 958 Lakeside Middle School API Rank: 10 API Growth: 933 Woodbridge High School API Rank: 10 API Growth: 877 11 RED COAT PLACE, IRVINE CA 92620 Listing Price: $699,000 Beds: 4 Baths: 2.5 Sq. Ft.: 2,000 $/Sq. Ft.: $350 Lot Size: 3,866 SF Property Type: Residential, Single Family Style: Two Level, Mediterranean Year Built: 1998 Community: West Irvine Builders Tract Name: LIBERTY Builders Tract Code: LIBT Builders Model Name/Code: Rushmore/5 Monthly expenses: HOA Dues: $0 Monthly Mortgage (30 YR Fixed, 3.625%): $2,550 Pricing History: July 06, 2012 Listed (Active) $699,000 Nov 13, 2002 Sold (Public Records) $465,000 June 03, 1999 Sold (Public Records) $318,000 Nov 21, 1997 Sold (Public Records) $224,000 -- Public Records Monthly Fixed Expenses: $2,550 Schools assigned: Myford Elementary API Rank: 10 API Growth: 951 Pioneer Middle School API Rank: 10 API Growth: 939 Arnold Beckman Middle School API Rank: 10 API Growth: 866 Which one would you buy? (Since the County Tax website is updating the information, and the property tax/Mello roos information wasn’t available, I didn’t include that in my calculation. Both the properties have a property tax rate slightly above 1%, and both have Mello Roos) Both properties are nicely upgraded.  West Irvine property has a larger lot size than the Westpark property. Westpark has two HOA dues, but West Irvine doesn’t have HOA dues. The schools for West Irvine property are under Tustin Unified School District, and even though the API rank is 10, the growth score is a little lower than Westpark schools. I would go for the West Irvine property in a heartbeat. Which one would you buy?

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