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104 Hartford Drive Newport Beach, CA 92660

3 Beds 3 Baths 1,741 sqft Built 1984

INVESTimate

$925,000

List Price

$3,860

$3,610 - $4,110

Rent Est.

$1,002,515  ( +8.38%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $531.30
  • 3 Days on Market
  • MLS # : NP20173115
  • Updated Date : 08/25/2020 at 09:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,741 sqft
  • Baths : 3 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Welcome home to this popular plan in the gated community of Bayridge! This 3 bedroom, 3 bath townhouse is situated in a prime, quiet location and has recently been updated with new floors, fresh paint, new hardware and stainless steel appliances. Rarely on the market, buyers love this floor plan with the downstairs bedroom and full bath, open living and dining room with vaulted ceilings, fireplace and the access to the cozy side patio. The upstairs features a large main bedroom suite with dual sinks and a second en-suite bedroom. Inside laundry, attached 2-car garage with extra storage and close-by guest parking makes this condo stand out to the most discriminating buyers. Community amenities feature pool and spa, two gates, pretty landscaping and this location is central to all the OC fun including the John Wayne airport, UCI, Fashion Island and the many Back Bay trails and Newport beaches!

SEE MORE

MARKET HIGHLIGHTS

  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)

PRICE & RENT TRENDS

Neighborhood: Bayridge Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k600k800k1000k1200k1400k1600k1800k2000kPrice in $244k2016k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Bayridge Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200025003000350040004500500055006000Rent in $17946232

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Lincoln Elementary School Primary Regular 620 22 7
Corona Del Mar High School Middle Regular 2,557 93 9
Corona Del Mar High School High Regular 2,557 93 9

Lincoln Elementary School

  • Education Level: Primary
  • # of students: 620
  • # of teachers: 22
7
GreatSchools Rating

Corona Del Mar High School

  • Education Level: Middle
  • # of students: 2,557
  • # of teachers: 93
9
GreatSchools Rating

Corona Del Mar High School

  • Education Level: High
  • # of students: 2,557
  • # of teachers: 93
9
GreatSchools Rating
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$3,474$4,246$3,860

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,860
EXPENSES Loan Payment -$3,413
Property Tax -$840
Property Insurance -$69
HOA -$477
Property Management Fees -$189
CASH FLOW
-$1,128

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$925,000

PROJECTED PRICE

$3,860

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.98%
Appreciation Year (1-5) 8.38%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,413

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$870

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,860

    LIST RENT
  • $2.22

    LIST RENT PER SQFT
  • $3,856

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,8603$3,9504$4,0005$4,100
$4,100
RENT COMPS ANALYSIS
  • 104 Hartford Drive Newport Beach, 2
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,860
    • $2.22
    •  
  • 132 Westport Newport Beach, 1
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.07
    •  
  • 39 Hartford Drive Newport Beach, 3
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.27
    •  
  • 545 Vista Flora Newport Beach, 4
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1964
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.30
    •  
  • 309 Vista Suerte Newport Beach, 5
    • 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1970
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.22
    •  
PROPERTY LISTING DETAILS
Eliisa Stowell
Pacific Sotheby's Int'l Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP20173115
Last Updated: 08/25/2020
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